![Holding-Subsidiary Transaction Excludes S. 56(2) (viib) Taxation in Absence of any Benefit Occurring to any Outsider: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Holding-Subsidiary-Transaction-Taxation-ITAT-deletes-Addition-ITAT-taxscan.jpg "Holding-Subsidiary Transaction Excludes S. 56(2) (viib) Taxation in Absence of any Benefit Occurring to any Outsider: ITAT deletes Addition [Read Order]")
Holding-Subsidiary Transaction Excludes S. 56(2) (viib) Taxation in Absence of any Benefit Occurring to any Outsider: ITAT deletes Addition [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has deleted the addition made, as the holding-subsidiary transaction does not attract...
![No liability to Deduct TDS on Payment made to Wholly-Owned Subsidiary Company in respect of Sales commission u/s 40 (a)(i): ITAT deletes addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Bangalore-ITAT-Income-Tax-TDS-Tax-Deducted-At-Source-ITAT-TDS-liability-ruling-Taxscan.jpg "No liability to Deduct TDS on Payment made to Wholly-Owned Subsidiary Company in respect of Sales commission u/s 40 (a)(i): ITAT deletes addition [Read Order]")
![Failure to prove Malafide purpose of Shifting Profit under Client code modification: ITAT quashes Reassessment Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-Reassessment-Proceedings-TAXSCAN.jpg "Failure to prove Malafide purpose of Shifting Profit under Client code modification: ITAT quashes Reassessment Proceedings [Read Order]")
![Shareholding Prerequisite for Deemed Dividend status for making Addition u/s 2(22) (e) of Income Tax Act: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Chennai-Income-tax-Income-tax-news-Deemed-Dividend-TAXSCAN.jpg "Shareholding Prerequisite for Deemed Dividend status for making Addition u/s 2(22) (e) of Income Tax Act: ITAT deletes Addition [Read Order]")
![Failure to Deposit Employees’ share of PF and ESIC within prescribed time under Respective Act: ITAT upholds Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Pune-Income-Tax-Income-Tax-news-Provident-Fund-Employee-State-Insurance-Corporation-TAXSCAN.jpg "Failure to Deposit Employees’ share of PF and ESIC within prescribed time under Respective Act: ITAT upholds Disallowance [Read Order]")
Receipts from construction of Plant and Machinery eligible for adjusting against the expenses on Capital Work in Progress: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that receipts from construction of plant and machinery are eligible for adjusting against the expenses on capital work in progress. ...
![Receipts from construction of Plant and Machinery eligible for adjusting against the expenses on Capital Work in Progress: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Receipts-from-construction-Plant-and-Machinery-expenses-Capital-Work-Progress-ITAT-TAXSCAN.jpg "Receipts from construction of Plant and Machinery eligible for adjusting against the expenses on Capital Work in Progress: ITAT [Read Order]")
Discount on ESOP Expenses rightly Debited as Expenditure in Books of Account : ITAT deletes Addition [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled in favor of the taxpayer, affirming that the deduction for ESOP ( Employee Stock Ownership Plan ) expenses was rightfully...
![Discount on ESOP Expenses rightly Debited as Expenditure in Books of Account : ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Bangalore-ITAT-Income-Tax-Employee-Stock-Ownership-Plan-Books-of-Account-ESOP-Expenses-Taxscan.jpg "Discount on ESOP Expenses rightly Debited as Expenditure in Books of Account : ITAT deletes Addition [Read Order]")
Form 10B Audit Report Submission hinders due to Technical Glitches in Software, Revenue rejects Plea for Re-submission: ITAT deletes Addition [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has deletes the addition after the Revenue rejected a plea for re-submission Form 10B audit report which was obstructed due to technical...
![Form 10B Audit Report Submission hinders due to Technical Glitches in Software, Revenue rejects Plea for Re-submission: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-tax-Income-tax-news-Form-10B-Audit-Report-Re-submission-Form-10B-taxscan.jpg "Form 10B Audit Report Submission hinders due to Technical Glitches in Software, Revenue rejects Plea for Re-submission: ITAT deletes Addition [Read Order]")
CA who is a Senior Citizen unable to Represent Client During Covid Period when Income Tax Notice Issued: Madras HC directs Re-do Assessment [Read Order]
The Madras High Court has issued a directive to the income tax authorities to conduct a re-do assessment, providing the petitioner with a fair opportunity within a 12-week timeframe in a case where...
![CA who is a Senior Citizen unable to Represent Client During Covid Period when Income Tax Notice Issued: Madras HC directs Re-do Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/CA-Senior-Citizen-CA-who-is-a-Senior-Citizen-unable-to-Represent-Client-During-Covid-Period-taxscan.jpg "CA who is a Senior Citizen unable to Represent Client During Covid Period when Income Tax Notice Issued: Madras HC directs Re-do Assessment [Read Order]")
e-Verification Scheme Update: Income tax Dept issues Instructions to AOs w.r.t. Proceedings u/s 147 of IT Act [Read Notification]
The Directorate of Income Tax (Systems) has recently issued e-Verification Instruction No. 2 (i) of 2024 on March 19, 2024, directing Assessing Officers (AO’s) to take action under section 147 of the...
![e-Verification Scheme Update: Income tax Dept issues Instructions to AOs w.r.t. Proceedings u/s 147 of IT Act [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/03/e-Verification-Scheme-e-Verification-Scheme-Update-Income-tax-Dept-AOs-IT-Act-taxscan.jpg "e-Verification Scheme Update: Income tax Dept issues Instructions to AOs w.r.t. Proceedings u/s 147 of IT Act [Read Notification]")
CBDT Issues Corrigendum for Inclusion of Sec. 43B(h) IT Act Disallowance under Clause 22 of Form 3CD [Read Notification]
The Central Board of Direct Taxes ( CBDT ) has issued a corrigendum to include Section 43B(h) disallowance under Clause 22 of Form 3CD. Previously, Notification No. 27/2024 mandated including...
![CBDT Issues Corrigendum for Inclusion of Sec. 43B(h) IT Act Disallowance under Clause 22 of Form 3CD [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/03/CBDT-CBDT-Issues-Corrigendum-Income-Tax-Disallowance-TAXSCAN.jpg "CBDT Issues Corrigendum for Inclusion of Sec. 43B(h) IT Act Disallowance under Clause 22 of Form 3CD [Read Notification]")
Income from providing Business Support Services to Indian group entities not taxable as FTS on absence of PE in India Under India-Thailand DTAA: ITAT [Read Order]
The Delhi bench Income Tax Appellate Tribunal ( ITAT ) held that Income from providing business support services to Indian group entities are not taxable as Fee for Technical Service ( FTS ) on...
![Income from providing Business Support Services to Indian group entities not taxable as FTS on absence of PE in India Under India-Thailand DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-DTAA-TAXSCAN.jpg "Income from providing Business Support Services to Indian group entities not taxable as FTS on absence of PE in India Under India-Thailand DTAA: ITAT [Read Order]")