The Income Tax Appellate Tribunal (ITAT), Pune Bench deleted the penalty for failure to comply with a notice. The three appeals were filed by the assessee, M/s. Sun Infrastructure Pvt. Ltd against the confirmation of

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench directed AO to restrict additions limited to the extent of bringing the G.P. rate on disputed purchases at the same rate of other genuine purchases. The assessee,

The Income Tax Appellate Tribunal (ITAT), Chandigarh bench, while granting relief to a 70-year old taxpayer, quashed re-assessment under Sec.148 of the Income Tax Act since the same was passed mechanically without application of mind.

The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that no disallowance of depreciation can be made, if invoice for car purchase could not be produced. The assessee company, Delhi Call Centre Private Limited was

The Income Tax Appellate Tribunal (ITAT), Delhi Bench deleted the penalty under Section 271D of the Income Tax Act as the Assessee bonafidely explains reasonable Cause. The assessee, Sarita Singh filed return of income declaring

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that the CIT(A) erred in confirming taxation of Rs.63.09 as income, in respect of contracts accounted under POC Method against UHDE India. The assessee-company, UHDE India

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench while recalling the Tribunal’s order ruled that the Case of erroneous application of law will fall outside the scope of section 254(2) of the Income Tax Act.

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench restored the case to the AO for examining whether the assessee is entitled to deduction under section 54 of the Income Tax Act. The assessee, Mr. Mahendrasingh

The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that the notice issued under section 143(2) of the Income tax Act to be served upon the assessee within six months. The assessee, Sajan Kumar Jain

The Central Board of Direct Taxes (CBDT) issued the clarification on the continuation of the concessional rate of tax on interest income of Foreign Portfolio Investments (FPIs). The Board has clarified that the concessional rate

The Central Government has directed the Post Offices to deduct the TDS in respect of aggregate Cash Withdrawal above Rs. 20 lakh by an account holder of National (Small) Savings Schemes for non-ITR filer under

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench deleted the disallowance on account of loss on share trading as not supported by a reasonable basis. The assessee, M/s. UBS Securities India filed its return of

The Income Tax Appellate Tribunal (ITAT), Kolkata Bench ruled that the Staff Recruitment Expenses incurred by Hotel allowable as Business Expenditure. The assessee has debited Rs. 63,01,109 under the head ‘Staff Welfare Expenses’. From the

The Central Board of Direct Taxes (CBDT) notified the new Income Tax Form 15E and Rule 29BA for application for grant of certificate for determination of the appropriate proportion of sum (other than Salary), payable

Income tax assessments are being done in a faceless manner, this was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in