![Service Tax Collection shall be Deducted from Gross Receipts while Computing Profit for the purpose of section 44BB: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Chandigarh-Taxscan.jpg "Service Tax Collection shall be Deducted from Gross Receipts while Computing Profit for the purpose of section 44BB: ITAT [Read Order]")
Service Tax Collection shall be Deducted from Gross Receipts while Computing Profit for the purpose of section 44BB: ITAT [Read Order]
The Income Tax Appellate Tribunal recently ruled that the service tax collection shall be deducted from gross Receipts while computing the profit for...
![Advance given by a Company to Its Director for Sale of Land is not Deemed Dividend: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Deemed-Dividends-Taxscan.jpg "Advance given by a Company to Its Director for Sale of Land is not Deemed Dividend: ITAT [Read Order]")
![Notice Sent to Company returned as ‘Addressee Left’: Kerala HC Upholds Ex-parte Assessment since Director received Notice send to him [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/01/Kerala-High-Court-Taxscan.jpg "Notice Sent to Company returned as ‘Addressee Left’: Kerala HC Upholds Ex-parte Assessment since Director received Notice send to him [Read Judgment]")
Interest Income from Depositing Share Capital in FDs with Bank under constraint is Capital Receipt: ITAT [Read Order]
Hyderabad bench of Income Tax Appellate Tribunal recently held that interest income earned from deposits of share capital as fixed deposits in bank should be considered as capital receipt which is not...
![Interest Income from Depositing Share Capital in FDs with Bank under constraint is Capital Receipt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Sale-of-Shares-Tax-Scan.jpg "Interest Income from Depositing Share Capital in FDs with Bank under constraint is Capital Receipt: ITAT [Read Order]")
Interest Expenditure on Borrowed Funds is not allowable since Assessee deposited the same in Banks as FDs: ITAT [Read Order]
Bangalore bench of Income Tax Appellate Tribunal (ITAT) recently held that the interest expenditure on borrowed funds is not allowable under the provisions of the Income Tax Act since the same was not...
![Interest Expenditure on Borrowed Funds is not allowable since Assessee deposited the same in Banks as FDs: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/05/Interest-Taxscan.jpg "Interest Expenditure on Borrowed Funds is not allowable since Assessee deposited the same in Banks as FDs: ITAT [Read Order]")
RBI mandates Authorization from Competent Authorities on Delay in Reporting Govt Transactions by Banks [Read Letter]
The Reserve Bank of India (RBI) recently notified that the agency banks should submit necessary authorization from the concerned government departments in case of delay in reporting government...
![Assessment cannot be Revised after issue of Certificate of Settlement: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/Madras-High-Court-Taxscan.jpg "Assessment cannot be Revised after issue of Certificate of Settlement: Madras HC [Read Order]")
![Revisional Order without hearing Assessees’ Submission is Invalid: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Delhi-High-Court-Tax-Scan-1.jpg "Revisional Order without hearing Assessees’ Submission is Invalid: Delhi HC [Read Order]")