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Bombay HC allows Assessee to Modify GST TRAN-1, Directs Dept to consider Corrected Form [Read Order]

The Bombay High Court while allowing the taxpayer to correct Form TRAN-1, has directed the department to consider the issue of whether Form TRAN-1...

Signing of Statement Admitting Tax Liability during Investigation & Making Payments shall not lead...

Assessing Officer cannot interfere with the Business Decisions of Assessee: ITAT [Read Order]

GST: Rajasthan HC refuses Exemption of Personal Appearance to Assessee [Read Order]

Fulfillment of Twin Conditions is Mandatory for Invoking the Jurisdiction u/s 263: ITAT [Read Order]

Corporate Guarantee Falls within the Scope and Ambit of International Transaction, ALP Applicable at 0.5%: ITAT [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal has held that corporate guarantee falls within the scope and ambit of international transaction and Arm’s Length Price (ALP) applicable at 0.5%. ...

‘Royalty’ cannot be attributed to providing Customized Research Advisory Services: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that customized research advisory services are not taxable under the head Royalty under the relevant treaty and the Income Tax Act,...

Receipt of Excess Share from Close Relative is not Chargeable to Tax under Other Sources: ITAT [Read Order]

The Jaipur Bench of Income Tax Appellate Tribunal has held that receipt of excess share from close relative is not chargeable to tax under other sources. The appellate, M/s Prakash Chand Sharma...

No Penalty on Receiving Cash Loan from Family Members to Meet Business Exigency: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the penalty under sections 271D and 271E of the Income Tax Act, 1961 cannot be leviable on receipt of cash loan from family members...

The Term 'Sufficient Cause' shall Interpret Liberally: ITAT [Read Order]

The Bangalore bench of the ITAT, in a significant ruling favoring the assessee, has held that the term “sufficient cause” shall interpret liberally. There was a delay of more than 500 days in...

Mere Mistake in filing of Income Tax Return would not result in Enhancement of Income: ITAT [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that a mere mistake in the filing of return of income would not result into enhancement of income of the assessee. the...

'Framing of Reassessment u/s 147 of Income Tax Act against Non-Existing Entity is void ab-initio': ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT), has held that the re-assessment under section 147 read with section 143(3) of the Income Tax Act, 1961 is not sustainable in the eye of...

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