![NBFCs Not Liable to Pay Interest Tax on Interest received under Hire-Purchase Agreement: Supreme Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/NBFCs-Interest-Tax-Interest-Tax-on-Interest-received-Hire-Purchase-Agreement-Supreme-Court-taxscan.jpg "NBFCs Not Liable to Pay Interest Tax on Interest received under Hire-Purchase Agreement: Supreme Court [Read Order]")
NBFCs Not Liable to Pay Interest Tax on Interest received under Hire-Purchase Agreement: Supreme Court [Read Order]
A two-judge bench of the Supreme Court has held that the non-banking finance companies are not liable to pay interest tax on the interest component...
![Distributorship Contracts Alone would not Attract Penalty for Cash Transaction Exceeding Rs. 2 Lakh for Co-operative Societies: CBDT [Read Circular]](https://www.taxscan.in/wp-content/uploads/2022/12/Distributorship-Contracts-Penalty-Cash-Transaction-Co-operative-Societies-CBDT-taxscan.jpg "Distributorship Contracts Alone would not Attract Penalty for Cash Transaction Exceeding Rs. 2 Lakh for Co-operative Societies: CBDT [Read Circular]")
![NFAC bound to Follow CBDT Circular: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/NFAC-bound-NFAC-CBDT-CBDT-Circular-ITAT-Taxscan.jpg "NFAC bound to Follow CBDT Circular: ITAT [Read Order]")
Depreciation can be allowed on Factual aspects under CBDT Instruction, even If the Value is not Recorded in Books of Account: ITAT [Read Order]
The Amritsar bench of the Income Tax Appellate Tribunal ( ITAT ) has held that depreciation can be allowed on factual aspects under CBDT instruction, even if the value is not recorded in the books of...
![Depreciation can be allowed on Factual aspects under CBDT Instruction, even If the Value is not Recorded in Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Depreciation-CBDT-Instruction-CBDT-Books-of-Account-ITAT-taxscan.jpg "Depreciation can be allowed on Factual aspects under CBDT Instruction, even If the Value is not Recorded in Books of Account: ITAT [Read Order]")
![CBDT issues SOP for Filing of Appeals & SLPs by Income Tax Department in Supreme Court [Read Circular]](https://www.taxscan.in/wp-content/uploads/2022/12/CBDT-issues-SOP-CBDT-SOP-Filing-of-Appeals-Appeals-SLPs-Income-Tax-Department-Income-Tax-Tax-Supreme-Court-taxscan.jpg "CBDT issues SOP for Filing of Appeals & SLPs by Income Tax Department in Supreme Court [Read Circular]")
Initiation of Re-assessment proceeding beyond six years is barred by Limitation, not valid: Calcutta HC [Read Order]
The Calcutta High Court (HC) has held that the Initiation of re-assessment proceeding beyond six years is barred by limitation and is not valid. Indra MohanVanijya Private Limited, the petitioner...
![Initiation of Re-assessment proceeding beyond six years is barred by Limitation, not valid: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Initiation-of-Re-assessment-proceeding-beyond-barred-by-Limitation-not-valid-Calcutta-HC-TAXSCAN.jpg "Initiation of Re-assessment proceeding beyond six years is barred by Limitation, not valid: Calcutta HC [Read Order]")
![CBDT notifies Relaxation of e-filing of Form 10F for non-residents [Read Notification]](https://www.taxscan.in/wp-content/uploads/2022/12/e-filing.jpg "CBDT notifies Relaxation of e-filing of Form 10F for non-residents [Read Notification]")
Non-mentioning of DIN invalidates Revision Order for Violation of Procedure given in CBDT Circular: ITAT [Read Order]
The Banglore Bench of the Income Tax Appellate Tribunal ( ITAT ) has recently held that non-mentioning of Document Identification Number (DIN) as per the instruction of the Central Board of Direct...
![Non-mentioning of DIN invalidates Revision Order for Violation of Procedure given in CBDT Circular: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/DIN-CBDT-Revision-Order-CBDT-Circular-ITAT-taxscan.jpg "Non-mentioning of DIN invalidates Revision Order for Violation of Procedure given in CBDT Circular: ITAT [Read Order]")
Value of Medical Treatment Including Covid Treatment provided to Employee Not 'Perquisite', No TDS: CBDT [Read Circular]
The Central Board of Direct Taxes (CBDT), in a circular issued on 7th December, has clarified that the value of any medical treatment provided to an employee or any member of his family in any...
![Value of Medical Treatment Including Covid Treatment provided to Employee Not Perquisite, No TDS: CBDT [Read Circular]](https://www.taxscan.in/wp-content/uploads/2022/12/Medical-Treatment-Covid-Treatment-Employee-Perquisite-TDS-CBDT-taxscan.jpg "Value of Medical Treatment Including Covid Treatment provided to Employee Not Perquisite, No TDS: CBDT [Read Circular]")
Family Pension Taxable as “Other Income”, TDS u/s 192 of Income Tax Act Not Applicable: CBDT Clarifies
In a circular clarifying the rates and other important issues in connection with the Tax Deduction at Source (TDS) on salaries, the Central Board of Direct Taxes ( CBDT ) has clarified that TDS need...
