The Supreme Court has held that the Money deposited in a bank not held by it as Trustee but it becomes part of banker's fund payable on-demand with agreed interest rate. The Appellant, N. Raghavender

The Income Tax Appellate Tribunal ( ITAT ) Delhi Bench, has, on Friday, held that grants do not form the corpus of the assessee nor is it income of the assessee under Section 11 of

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench ruled that the provisions relating to Book Profit not applicable when there is no income tax payable on the normal provisions of the Act. The assessee, M/s.

The Financial Year 2022-2023 is coming to an end soon. It is important that you, as a taxpayer, be informed of the deductions available on total tax liability and plan accordingly to ensure maximum tax

The Institute of Company Secretaries of India (ICSI) has released a clarification regarding charging of professional fees and receiving money for client payments for Government or legal dues, stating that the same will not be

The Central Board of Direct Taxes (CBDT) vide notifications number S.O. 3777(E) and S.O. 3776(E) issued on 23rd August 2023 has notified the income tax exemption under Section 10(46) of the Income Tax Act, 1961

Under the newly proposed Union Budget 2023 the Union Ministry has proposed certain major amendments for investors. No Exemption in Certain Cases of Insurance Policy Premium It is proposed to provide that where aggregate premium

Budget 2023 proposed to allow a taxpayer to obtain a certificate of Tax Deduction Source (TDS) to lower or ‘nil rate’ on sums on which tax is required to be deducted under section 194LBA of

This yearly digest analyzes all the ITAT stories published in the year 2023 at taxscan.in Sai Prerana Co-op. Credit Society Ltd vs Income Tax Officer CITATION: 2023 TAXSCAN (ITAT) 500 The Income Tax Appellate Tribunal (ITAT),

The Securities Exchange Board of India (SEBI) has notified on Resources for Trustees of Mutual Funds after interactions with the Trustees who had requested for providing administrative assistance to  Trustees in monitoring various activities of

The Central Board of Direct Taxes (CBDT), vide notification no. S.O. 4342(E) issued on 4th October 2023 has notified the income tax exemption to ‘District Mineral Foundation (DMF) Trust’ under Section 10(46) of Income Tax

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has recently upheld the order of  Commissioner of Income Tax (Exemptions) [CIT(E)], in verification of cancellation of the Income Tax registration of the assessee-Popular Front

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted the addition of Government grants which cannot be treated as corpus or income. The assessee, Howrah Improvement Trust, is the State Level Nodal

The Central Government recently issued a concept note on the applicability of Goods and Services Tax (GST) on educational services. Education Services are taxable under forward charge which means, tax shall be paid by the

The Income Tax department has clarified that donations made to the Shri Ram Janmabhoomi Teerth Kshetra Trust in respect of the repair, rebuild, or renovation of the Ram Mandir in Ayodhya are eligible for deduction