![Madras HC directs AO to determine borrowed funds were used for advancing loans to Subsidiary Company or Surplus Funds of Company were diverted [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/10/Madras-High-court-directs-AO-determine-borrowed-funds-advancing-loans-Subsidiary-Company-Surplus-Funds-Company-Taxscan.jpeg "Madras HC directs AO to determine borrowed funds were used for advancing loans to Subsidiary Company or Surplus Funds of Company were diverted [Read Judgment]")
Madras HC directs AO to determine borrowed funds were used for advancing loans to Subsidiary Company or Surplus Funds of Company were diverted [Read Judgment]
The Madras High Court directed the Assessing Officer to determine whether borrowed funds used for advancing loans to Subsidiary Company or Surplus...
![Long Term Capital Gain Tax is not applicable to indirect transfer of Indian Assets: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/Long-Term-Capital-Gain-Tax-indirect-transfer-Indian-Assets-ITAT-Taxscan.jpeg "Long Term Capital Gain Tax is not applicable to indirect transfer of Indian Assets: ITAT [Read Order]")
![Assessing Officer not empowered to reject selection and valuation methods adopted by Taxpayer: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/Assessing-Officer-empowered-reject-selection-valuation-methods-adopted-Taxpayer-ITAT-taxscan.jpg "Assessing Officer not empowered to reject selection and valuation methods adopted by Taxpayer: ITAT [Read Order]")
![Leasehold Rights can’t be computed as Capital Gains in respect of transactions in land or building under Section 50C: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/Leasehold-Rights-capital-gains-transactions-land-building-Section-50C-ITAT-Taxscan.jpg "Leasehold Rights can’t be computed as Capital Gains in respect of transactions in land or building under Section 50C: ITAT [Read Order]")
![Kerala HC quashes order rejecting Tee Cee Trading Company’s claim in view of not being substantiated with proper evidence and due to lack of time [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/Kerala-High-court-quashes-order-Tee-Cee-Trading-Company-claim-substantiated-proper-evidence-lack-of-time-Taxscan.jpeg "Kerala HC quashes order rejecting Tee Cee Trading Company’s claim in view of not being substantiated with proper evidence and due to lack of time [Read Order]")
![ITAT imposes Penalty for failure to maintain Transfer Pricing Documents [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/ITAT-Penalty-failure-maintain-Transfer-Pricing-Documents-taxscan.jpg "ITAT imposes Penalty for failure to maintain Transfer Pricing Documents [Read Order]")
Roaming charges paid by Reliance Communications aren’t in the nature of ‘fee for technical services’, TDS not liable to be paid: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that roaming charges paid by Reliance Communications are not in the nature of ‘fee for technical services’, tax deducted at source (TDS)...
![Roaming charges paid by Reliance Communications aren’t in the nature of ‘fee for technical services’, TDS not liable to be paid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/ITAT-Reliance-Communications-ITAT-Mumbai-fee-technical-services-TDS-Taxscan.jpg "Roaming charges paid by Reliance Communications aren’t in the nature of ‘fee for technical services’, TDS not liable to be paid: ITAT [Read Order]")
PCIT rightly directed the Bank of India’s case to Transfer Pricing Officer for determining ALP: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that PCIT rightly directed the Bank of India’s case to the Transfer Pricing Officer (TPO) under section 92CA for determination of arm’s...
![PCIT rightly directed the Bank of India’s case to Transfer Pricing Officer for determining ALP: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/ITAT-PCIT-Bank-of-India-Transfer-Pricing-Officer-ALP-Taxscan.jpeg "PCIT rightly directed the Bank of India’s case to Transfer Pricing Officer for determining ALP: ITAT [Read Order]")
![ITAT deletes disallowance made by Assessing Officer against Coffeeday [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/ITAT-deletes-disallowance-Assessing-Officer-Coffeeday-Taxscan.jpg "ITAT deletes disallowance made by Assessing Officer against Coffeeday [Read Order]")
![Payments to Church, Police Station, Summits, Schools, etc are not CSR Expense: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/ITAT-CSR-Expense-church-police-station-summits-Payments-Vedanta-Ltd-Taxscan.jpg "Payments to Church, Police Station, Summits, Schools, etc are not CSR Expense: ITAT [Read Order]")
Madras HC affirms Deemed Dividend to be assessed in the hands of the Shareholder and not in the hands of the Firm [Read Judgment]
The Madras High Court while upholding the order passed by the Tribunal held that the deemed dividend under Section 2(22) (e) is to be assessed in the hands of the shareholder and not in the hands of...
![Madras HC affirms Deemed Dividend to be assessed in the hands of the Shareholder and not in the hands of the Firm [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/10/deemed-dividend-assessed-Taxscan.jpg "Madras HC affirms Deemed Dividend to be assessed in the hands of the Shareholder and not in the hands of the Firm [Read Judgment]")
Assessing Officer erred in holding Bank of India guilty of non-deduction of TDS: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Jaipur Bench vehicle deleting the penalty held that the assessee, Bank of India was not guilty of non-deduction of Tax Deduction at Source (TDS). The...
![Assessing Officer erred in holding Bank of India guilty of non-deduction of TDS: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/ITAT-TDS-Bank-of-India-Taxscan.jpeg "Assessing Officer erred in holding Bank of India guilty of non-deduction of TDS: ITAT deletes Penalty [Read Order]")