Income Tax Search and Seizure & Income Tax Settlement Commission (ITSC)- Detection of any undisclosed income subsequent to the final order of ITSC
Introduction:- Chapter XIX - A of Income Tax Act, 1961 provides for settlement of cases. Income Tax Settlement Commission was set up in the year...
![ITAT deletes disallowance on Account of Interest Paid on Debit Balances of Capital Account with other firms [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/ITAT-disallowance-account-of-interest-paid-debit-balances-capital-account-firms-Taxscan.jpg "ITAT deletes disallowance on Account of Interest Paid on Debit Balances of Capital Account with other firms [Read Order]")
![Cash Medical Benefit to LIC Employees does not attract TDS: ITAT grants relief to LIC [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/Cash-Medical-Benefit-LIC-Employees-TDS-ITAT-LIC-Taxscan.jpg "Cash Medical Benefit to LIC Employees does not attract TDS: ITAT grants relief to LIC [Read Order]")
![ITAT allows deduction to Deloitte Haskins & Sells for expenditure representing TDS deducted [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/ITAT-deduction-Deloitte-Haskins-Sells-expenditure-TDS-deducted-Taxscan.jpg "ITAT allows deduction to Deloitte Haskins & Sells for expenditure representing TDS deducted [Read Order]")
![Indian Newspaper Society not required to deduct TDS on payment of Lease Premium: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/TDS-Indian-Newspaper-Society-ITAT-Lease-Premium-Taxscan.jpg "Indian Newspaper Society not required to deduct TDS on payment of Lease Premium: ITAT [Read Order]")
CBDT directs Income Tax Officers to impose Penalty u/s 271AAD for False Entry in Books of Accounts [Read Circular]
The Central Board of Direct Taxes (CBDT) notified the penalty under section 271AAD for false entry etc. in the books of accounts. The CBDT has inserted section 271AAD in the Income Tax Act,...
![CBDT directs Income Tax Officers to impose Penalty u/s 271AAD for False Entry in Books of Accounts [Read Circular]](https://www.taxscan.in/wp-content/uploads/2021/01/CBDT-Income-Tax-Officers-Penalty-False-Entry-in-Books-of-Accounts-Taxscan.jpg "CBDT directs Income Tax Officers to impose Penalty u/s 271AAD for False Entry in Books of Accounts [Read Circular]")
![CBDT notifies directions for giving effect to Faceless Penalty Scheme 2021 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2021/01/CBDT-Faceless-Penalty-Scheme-Taxscan.jpg "CBDT notifies directions for giving effect to Faceless Penalty Scheme 2021 [Read Notification]")
ITAT allows exemption to National Internet Exchange of India as charitable activities are undertaken [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench allowed the exemption to National Internet Exchange of India as charitable activities are undertaken. The assessee, National Internet Exchange...
![ITAT allows exemption to National Internet Exchange of India as charitable activities are undertaken [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/ITAT-exemption-National-Internet-Exchange-of-India-charitable-activities-Nixi-Taxscan.jpg "ITAT allows exemption to National Internet Exchange of India as charitable activities are undertaken [Read Order]")
Income from Sale of Software by US Company to Indian Customers or through Distributors or Resellers constitutes Business Income, Not Royalty: ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the income received by a non-resident company from sale of software, either directly to the customers in India or through...
![Income from Sale of Software by US Company to Indian Customers or through Distributors or Resellers constitutes Business Income, Not Royalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/Income-Sale-of-Software-Indian-Customers-Resellers-Business-Income-Royalty-ITAT-Taxscan.jpg "Income from Sale of Software by US Company to Indian Customers or through Distributors or Resellers constitutes Business Income, Not Royalty: ITAT [Read Order]")
Unabsorbed Depreciation eligible for set off against Income even after lapse of eight years: Madras High Court [Read Judgment]
The Madras High Court unabsorbed depreciation is eligible for set off against income even after the lapse of eight years. The appellant, M/s. Harvey Heart Hospitals Ltd. is in the healthcare...
![Unabsorbed Depreciation eligible for set off against Income even after lapse of eight years: Madras High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/01/Unabsorbed-depreciation-income-Madras-High-Court-Taxscan.jpeg "Unabsorbed Depreciation eligible for set off against Income even after lapse of eight years: Madras High Court [Read Judgment]")
No Income Tax applicable on receipt of Software License Fees from Indian subsidiary: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that no income Tax applicable on receipt of software license fees from an Indian subsidiary. The assessee, SCA Hygiene Products AB is a...
![No Income Tax applicable on receipt of Software License Fees from Indian subsidiary: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/Income-Tax-receipt-of-software-license-fees-Indian-subsidiary-ITAT-Taxscan.jpg "No Income Tax applicable on receipt of Software License Fees from Indian subsidiary: ITAT [Read Order]")
Question, Whether Taxes are due to be paid on any Income, shall be considered during Assessment, Not on granting Registration: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench held that the question of whether taxes are due to be paid on any income shall be considered during Assessment, and not on granting Registration. ...
![Question, Whether Taxes are due to be paid on any Income, shall be considered during Assessment, Not on granting Registration: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/taxes-income-Assessment-granting-Registration-ITAT-Taxscan.jpg "Question, Whether Taxes are due to be paid on any Income, shall be considered during Assessment, Not on granting Registration: ITAT [Read Order]")