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Assessment Proceedings

Repayment of Loan taken for Construction of Building by Assessee Society considered as Income If for Charitable Purposes: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chandigarh bench consisting of N.K. Saini, Vice President, and Sudhanshu Srivastava, Judicial Member held...

Delhi HC allows Income Tax Deduction of Payment of Bonus by Company to Director: Directs Dept to...

Absence of Notice cannot be Cured by Invoking S. 292BB of Income Tax Act: Delhi High Court [Read...

Dealer’s Failure to contest Assessment Proceedings does not amount to Violation of Natural Justice...

Paramount - Assessee - depreciation - exchange fluctuation- assets - ITAT - Taxscan

Assessee entitled to Depreciation on Exchange Fluctuation on Assets acquired in India: ITAT [Read...

Writ Petition not maintainable against Show Cause Notice under GST during Assessment Proceedings: Rajasthan High Court [Read Order]

The Rajasthan High Court dismissed the GST Appeal as the matter is at the stage of show cause notice and an opportunity hearing is still available. The petitioner, Genus Power Infrastructure Ltd....

Section 80P Deduction allowable to Co-Operative Credit Society as it is not a Co-Operative Bank: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench ruled that the deduction under Section 80P of the Income Tax Act, 1961 is allowable to co-operative credit societies as it is not a co-operative...

Income Tax: Affidavits from Family Members sufficient to prove Genuineness of Cash Gift, rules ITAT

The Income Tax Appellate Tribunal (ITAT) ruled that the affidavits from Family Members sufficient to prove genuineness of Cash Gift. The assessee, Dheeraj Thakran is an individual and derives...

ITAT upholds Addition on the basis of Confession made at the Time of Survey [Read Order]

The Income Tax Appellate Tribunal (ITAT), Cuttack Bench upheld the addition on the basis of Confession made at the time of survey. The assessee, Sanjay Sultania submitted that a survey...

Relief to Deloitte: Taxes paid at Maximum Marginal Rate, No Loss to Revenue for not charging Interest, rules ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench observed that Deloitee Haskins and Sells paid taxes at maximum marginal rate, no loss to revenue for not charging interest. The assessee,...

ITAT affirms Assessment of Profit on Main Contract at 8% and Income from Sub-Contracts at 5%

The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench affirmed the CIT(A) assessment of the profit on main contract at 8% and income from sub-contracts at 5%. The assessee, Dasaradha Rami...

TDS not applicable on Seconded Employees If the Same is Deducted by Holding Company: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench while remitting the matter back to AO ruled that the TDS not applicable on seconded employees if the same is deducted by holding Company. The...

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