Section 147 of the Income Tax Act

Carat Wise Stock Maintenance - Carat Wise Stock - Genuine Purchases - Diamond Trade - Trade - ITAT Deletes Addition - ITAT - Addition - Taxscan

Carat Wise Stock Maintenance is Sufficient Compliance to Genuine Purchases in Diamond Trade :ITAT Deletes Addition [Read Order]

June 9, 2023

Income Tax Act is Appealable Order - Calcutta HC Dismisses WP - HC - TAXSCAN'

Assessment Order u/s147 of Income Tax Act is Appealable Order: Calcutta HC Dismisses WP [Read Order]

June 9, 2023

ITAT Deletes Addition to Income of Elderly Agriculturist - Based on Adequate Justification and - Proper Account Maintenance - TAXSCAN

ITAT Deletes Addition to Income of Elderly Agriculturist Based on Adequate Justification and Proper Account Maintenance [Read Order]

June 9, 2023

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Audit on Books of Account - Books of Account - IT Act due to Turnover Limitation - ITAT deletes penalty - penalty - taxscan

No Audit on Books of Account u/s 44AB of IT Act due to Turnover Limitation: ITAT deletes penalty

June 10, 2023

The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT) deleted the penalty for auditing the books of account under section 44AB of the Income Tax Act,1961 due to turnover limitation. Bangla Readymade Garments Mfg and Traders Welfare Association, the appellant assessee was an association of persons formed for looking after the interests of […]

Interest Expenses - Income from Loans - Income - Loans - Loans and Advances - Disallowed - Income Tax Act - ITAT - Income Tax - taxscan

Interest Expenses incurred for earning Income from Loans and Advances shall not be Disallowed u/s 57 of Income Tax Act: ITAT [Read Order]

June 10, 2023

The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) has recently held that the interest expenses incurred for earning income from loans and advances should not be disallowed under Section 57 of Income Tax Act, 1961. The assesee Ankit Ashok Savla after filing the return for the assessment year 2017-18. The case was selected for […]

Admit Card of ICAI CA Foundation -Admit Card - ICAI CA Foundation-ICAI - CA taxscan

Admit Card of ICAI CA Foundation is live: Download Here

June 10, 2023

The Institute of Chartered Accountants of India (ICAI) has released the admit card for Chartered Accountancy – CA Foundation for the June 2023 examination. The candidates who have registered for the CA- Foundation exam shall download the admit card from the official website of ICAI. The CA- Foundation examination will be conducted from June 24th […]

Claim of FTC - FTC - Claim of FTC on Payment - Payment of Foreign Tax - due to Late Filing of ROI - Late Filing of ROI - ROI - ITAT - Income Tax - ITAT directs re-adjudication - taxscan

Claim of FTC on Payment of Foreign Tax Rejected due to Late Filing of ROI: ITAT directs Re-Adjudication [Read Order]

June 10, 2023

The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) directed re-adjudication to the assessing officer for rejecting the claim of Foreign Tax Credit (FTC) on payment of foreign tax due to late filing of Return of Income ( ROI). Shridhar Madhav Diwan, the appellant assessee appealed against the order passed by the Commissioner of […]

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No Audit on Books of Account u/s 44AB of IT Act due to Turnover Limitation: ITAT deletes penalty

June 10, 2023

Interest Expenses incurred for earning Income from Loans and Advances shall not be Disallowed u/s 57 of Income Tax Act: ITAT [Read Order]

June 10, 2023

Admit Card of ICAI CA Foundation is live: Download Here

June 10, 2023

Claim of FTC on Payment of Foreign Tax Rejected due to Late Filing of ROI: ITAT directs Re-Adjudication [Read Order]

June 10, 2023

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