ITAT

Penalty - IT Act - Concealment of Income or Filing of Inaccurate Particulars of Income - Concealment of Income - Income - Filing of Inaccurate Particulars of Income - Particulars of Income - ITAT - Taxscan

Penalty imposed u/s 271(1)(c) of IT Act without proving either Concealment of Income or Filing of Inaccurate Particulars of Income: ITAT quashes Order [Read Order]

June 10, 2023

The difference in non-delivery derivative Transactions be taken for determining Turnover - non-delivery derivative Transactions - Transactions - Turnover - Tax Audit - IT Act - ITAT deletes Penalty - ITAT - Penalty - Taxscan

The difference in non-delivery derivative Transactions be taken for determining Turnover for Tax Audit u/s 44AB of IT Act: ITAT deletes Penalty u/s 271B

June 10, 2023

Charitable Trust - Registration Rejected Without - Fair Hearing Opportunity - ITAT -TAXSCAN

Charitable Trust Registration Rejected Without Fair Hearing Opportunity: ITAT orders Reconsideration[ Read Order]

June 10, 2023

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IBBI - Penalty - IP - Negligence - Ordinary Due Care and Caution - Caution - Selling Asset Corporate Debtor - Corporate Debtor - IBBI Imposes Penalty - taxscan

IBBI Imposes Penalty on IP for his Negligence to Take Ordinary Due Care and Caution in Selling Asset Corporate Debtor [Read Order]

June 10, 2023

The Insolvency and Bankruptcy Board of India (IBBI) imposed a penalty on Insolvency Professional for his negligence of ordinary due care and caution in selling assets corporate debtor Mr Sai Ramesh Kanuparthi, Insolvency Professional (IP) submitted contraventions before the IBBI. The National Company Law Tribunal, Hyderabad, (AA) had admitted the application under section 7 of […]

Glass manufacturing - ITAT -Fabrication Charges received from AE for Manufacturing Glass - TAXSCAN

Fabrication Charges received from AE for Manufacturing Glass is not FTS under India-Singapore Tax Treaty :ITAT [Read Order]

June 10, 2023

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently held that fabrication charges received from Associate Enterprise (AE) for manufacturing glass is not Fee for Technical Services (FTS) under India-Singapore Tax Treaty. The Assessee Owens Corning Inc. is incorporated in Singapore and a group concern of Owens Corning Group of Companies, a leading […]

Cessation of Liabilty - Income Tax Act - Income Tax - Income for Addition - ITAT sets aside Addition - taxscan

Cessation of Liabilty u/s 41(1) of Income Tax Act cannot be treated as Income for Addition : ITAT sets aside Addition[Read Order]

June 10, 2023

The Delhi bench of Income Tax Appellate Tribunal ( ITAT) held that cessation of liability under Section 41(1) of Income Tax Act,1961 cannot be treated as an income for addition. Raunika Fashion Pvt. Ltd, the appellant assessee e-filed its return of income declaring total income at ‘Nil’ and claimed loss of an amount for the […]

Penalty imposed u/s 271(1)(c) of IT Act without proving either Concealment of Income or Filing of Inaccurate Particulars of Income: ITAT quashes Order [Read Order]

June 10, 2023

The Dehradun bench of the Income Tax Appellate Tribunal ( ITAT) held that the penalty imposed under section 271(1)(c ) of the Income Tax Act,1961 without proving either concealment of income or filing of inaccurate particulars of income is invalid. Saraswati Dynamics Pvt. Ltd, the appellant assessee filed the appeal against the order passed by […]

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IBBI Imposes Penalty on IP for his Negligence to Take Ordinary Due Care and Caution in Selling Asset Corporate Debtor [Read Order]

June 10, 2023

Fabrication Charges received from AE for Manufacturing Glass is not FTS under India-Singapore Tax Treaty :ITAT [Read Order]

June 10, 2023

Cessation of Liabilty u/s 41(1) of Income Tax Act cannot be treated as Income for Addition : ITAT sets aside Addition[Read Order]

June 10, 2023

Penalty imposed u/s 271(1)(c) of IT Act without proving either Concealment of Income or Filing of Inaccurate Particulars of Income: ITAT quashes Order [Read Order]

June 10, 2023

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