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ITAT confirms 50% Disallowance of Motor Car and Bike Expenses due to Failure to Provide Details [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the First Appellate Authority's decision by confirming a 50% disallowance of...

Failure to Explain Unexplained Credits of Rs. 11 Cr due to Covid-19: ITAT remands Matter [Read...

Registered Gift Deed for Immovable Property cannot be Treated as Unexplained Cash Credit u/s 68 of...

Bombay High Court - Pre-Deposit - Local Body Tax - Taxscan

No Penalty/Interest Pre-Deposit Mandate on Local Body Tax Appeals: Bombay HC [Read Order]

Appeal Before CIT(A) cannot be dismissed on Technical Grounds without Sufficient Reason for...

Subscription Fees from cloud Services not Taxable as Royalty in India under India-Ireland DTAA: ITAT [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT) of Delhi held that subscription fees from cloud services are not taxable as royalty in India under the India -Ireland Double Taxation...

Relevant Information Sought by AO Not Provided by Assessee: ITAT Restores Matter to AO for Fresh Adjudication [Read Order]

Recently, the Income Tax Appellate Tribunal (ITAT) of Delhi restored a matter back to the Commissioner of Income Tax (Appeals) [CIT (A)] for fresh adjudication as ex parte order was passed without...

Revised TDS Rates for FYs 2024-25: What You Need to Know from October 1, 2024

The Union Budget 2024 has proposed TDS ( Tax Deduction at Source ) rate changes under Income tax for Financial Year 2024-25 and Assessment year 2025-26. It includes TDS on payment of Rent by...

Income - TDS - TDS Rates- Tax Deduction at Source - life insurance policy - TAXSCAN

AO’s failure to Investigate Agricultural Income, Land Purchase Sources, and Unexplained Bank Deposits: ITAT upholds PCIT Order [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) upheld the Principal Commissioner of Income Tax's (PCIT) order, agreeing that the Assessing Officer (AO) failed to conduct proper...

Deduction u/s 54 of IT Act allowable even if Old Sale Proceeds not Reinvested in New Asset Acquisition: ITAT [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) recently ruled that deduction under section 54 of Income Tax Act 1961 ( ITA ) is allowable even if proceeds from sale of old property is...

Assessment Proceedings should be conducted u/s 153C instead of Section 147 when material is found on Third-Party Premises: ITAT [Read Order]

In a recent judgement, the Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has ruled that, based on material found at a third person's premises, assessment proceedings should be conducted...

Failure to consider Total TDS deducted and Deposited: Delhi HC directs AO to grant TDS Credit in Compliance of ITAT’s direction [Read Order]

In a recent ruling, the Delhi High Court directed the Assessing Officer ( AO ) to grant Tax Deducted at Source ( TDS ) credit in compliance with the Income Tax Appellate Tribunal's ( ITAT )...

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