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Patna HC dismisses Plea seeking TDS Refund since the matter is pending scrutiny before Competent Officer [Read Judgment]

The Patna High Court has dismissed the plea of Uttar Bihar Gramin Bank for seeking the TDS Refund since the matter is pending scrutiny before...

Interest on Security Deposit made for Sales Tax Registration is Taxable as ‘Other Income’ : ITAT...

ICAI forms Group to examine Issues raised in SC Judgment on Foreign Accounting Firms

Kerala High Court confirms Penalty as Assessee Failed to Prove Reason for Accepting Deposits from...

Warehouse Rent Taxable as Business Income: ITAT [Read Order]

UPS is Integral part of Computer: ITAT allows 60% Depreciation [Read Order]

In the case of Assistant Commissioner of Income Tax vs M/s. Caparo Engineering India Pvt. Ltd, Delhi bench of Income Tax Appellate Tribunal ( ITAT ) recently ruled that UPS is also an integral part of...

Government issues clarification on Requirement for Furnishing of CbC Report

In keeping with India’s commitment to implement the Recommendations of the 2015 Final Report on Action 13, titled “Transfer Pricing Documentation and Country-by-Country (CbC ) Reporting”, identified...

Unabsorbed Depreciation can’t be adjusted while claiming S. 10A Benefit: ITAT [Read Order]

The Delhi Bench of the ITAT in the case of M/S Vision I knowledge Solutions Pvt. Ltd versus PR. CIT ruled that Unabsorbed Depreciation can’t be adjusted while claiming deduction under section 10A of...

GST : Small Businesses with Zero Liability may be allowed to file Return Twice a Year

Reportedly, Businesses having nil tax liability under the Goods and Services Tax (GST) for six consecutive months may soon be allowed to file return bi-annually. If this proposal gets the nod of the...

GST Impact: Number of Companies Registrations, Industrial Activity Increased, says Union Minister

Union Minister of State for Law & Justice and Corporate Affairs Shri P.P. Chaudhary in Lok Sabha to the Lok Sabha that after the introduction of GST, increasing trend in the number of companies’...

No Addition if Assessee able to Prove Genuineness of Transaction: ITAT [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ), while upholding a decision of CIT (Appeals) deleting an addition of Rs. 67,50,00,000/- held that if the assessee is able to prove the...

ICAI forms Group to interact with Govt for Formation of NFRA Rules

The Institute of Chartered Accountants of India (ICAI) has formed a special group to interact with the Government on day-to-day basis for the formation of National Financial Reporting Authority ( NFRA...

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