The Delhi High Court has held that the exclusion of comparables become valid as failed to demonstrate a change in circumstance from the earlier financial year and dismissed the petition of the Income Tax department.
The Supreme Court of India, in the case of the challenge of the nature of Interest income earned by Bangalore Metro Rail Corporation, issued notice for further hearing. Mr Balbir Singh, the counsel appeared for
The Kerala High Court dismissed the appeal praying for issuing direction to deposit amount for disposing Pending Assessment Proceedings Under Income Tax Act, 1961, as there was an order modified the direction. Irfan A.K, the
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that the donor has amply expressed the intention that the advances were given merely as gifts since the inception thus upheld the order of Commissioner
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that that there is no reason to disbelieve the value of closing work in progress disclosed by the assessee, thus set aside the order passed
The Raipur bench of the Income Tax Appellate Tribunal (ITAT) held that the disallowance under Section 40(a)(ia) of the Income Tax Act, 1961 shall be imposed when the assessee failed to deduct the Tax Deducted
The National Financial Reporting Authority (NFRA) has debarred the Chartered Accountant of Burnpur Cements from practicing for a period of 5 years from being appointed as an auditor or internal auditor and has additionally levied
The Income Tax Appellate Tribunal (ITAT) Mumbai Bench Ruled that the Tax Deduction at Source should be allowed in a year under consideration for which such income is assessable. Ignitive Digitech Private Limited, the assessee
The Delhi High Court directed a De novo adjudication against the notice under Section 148A(b) of the Income Tax Act, 1961 issued by the Assessing Officer (AO) without furnishing the relevant material or information against
The Jharkhand High Court while entertaining a human trafficking case, granted bail to the petitioner on the grounds that no material evidence was found to prove the commissioner of offences of money laundering under Prevention
This weekly round-up analytically summarises the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan.in during the previous week from June 3 to 9, 2023. Relief to Britannia: Revision without Proper
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently dismissed the interest charged by the Assessing Officer on reply to notice under Section 148 of Income Tax Act filed within 30 days. The
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that reopening of assessment done without the application of mind based on misunderstood facts is not valid. The assessee, Ravi Gopal Trivedy was
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has upheld the reduction in profit eligible for deduction in revenue sharing as the assessee had the ownership of equipment in bandwidth selling business. The assessee-company
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that the landlord was not liable for deduction of Tax Deduction at Source (TDS) under wrong provision by the tenant. Assesee Rajesh Kumar