![ITAT Dismisses Revenues Appeal as Tax Effect Falls Below Rs. 60 Lakhs, in Accordance with CBDT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Delhi-Income-Tax-Appellate-Tribunal-ITAT-Dismisses-Revenues-Appeal-Revenues-Appeal-taxscan.jpg "ITAT Dismisses Revenues Appeal as Tax Effect Falls Below Rs. 60 Lakhs, in Accordance with CBDT [Read Order]")
ITAT Dismisses Revenue's Appeal as Tax Effect Falls Below Rs. 60 Lakhs, in Accordance with CBDT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal filed by the Revenue as the tax effect was below Rs. 60 lakhs, and...
![CIT(E) Rejects State Trust Application u/s 12AB for Missing Deadline: ITAT Overturns Decision citing CBDT Deadline Extension Circular. [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/CBDT-Deadline-Extension-Circular-Section-12AB-income-tax-act-ITAT-taxscan.jpg "CIT(E) Rejects State Trust Application u/s 12AB for Missing Deadline: ITAT Overturns Decision citing CBDT Deadline Extension Circular. [Read Order]")
Purchases Claimed by Assessee not Proven to be Non-Business Related: Delhi HC Upholds ITAT's Findings [Read Order]
In a recent ruling, the Delhi High Court upheld the findings of the Income Tax Appellate Tribunal ( ITAT ) and held that the purchases claimed by the assessee were solely and exclusively for business...
![Purchases Claimed by Assessee not Proven to be Non-Business Related: Delhi HC Upholds ITATs Findings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Delhi-high-court-Delhi-HC-Upholds-ITAT-Findings-Delhi-High-Court-case-on-business-related-purchases-taxscan.jpg "Purchases Claimed by Assessee not Proven to be Non-Business Related: Delhi HC Upholds ITATs Findings [Read Order]")
Amendments to Income Tax Rules: New Safe Harbor Provisions for Raw Diamond Businesses [Read Notification]
The Central Board of Direct Taxes ( CBDT ), under the Ministry of Finance, issued Notification No. 124/2024 on November 29, 2024, amending the Income Tax Rules, 1962. These amendments, titled the...
![Amendments to Income Tax Rules: New Safe Harbor Provisions for Raw Diamond Businesses [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/12/CBDT-notification-for-diamond-traders-Raw-diamond-trading-tax-Income-Tax-updates-taxscan.jpg "Amendments to Income Tax Rules: New Safe Harbor Provisions for Raw Diamond Businesses [Read Notification]")
[Breaking] CBDT Extends ITR Due Date for Transfer Pricing Report Filers under Section 92E: Check New Date Here [Read Circular]
The Central Board of Direct Taxes (CBDT) has extended the due date for furnishing the return of income under Section 139(1) of the Income Tax Act, 1961, for Assessment Year (AY) 2024-25 from November...
![[Breaking] CBDT Extends ITR Due Date for Transfer Pricing Report Filers under Section 92E: Check New Date Here [Read Circular]](https://www.taxscan.in/wp-content/uploads/2024/11/CBDT-ITR-Transfer-Pricing-Report-Section-92E-taxscan.jpg "[Breaking] CBDT Extends ITR Due Date for Transfer Pricing Report Filers under Section 92E: Check New Date Here [Read Circular]")
Actual Turnover of Kaccha Aarahtias is Commission Charged, Does not include Sales affected on Behalf of Principals: ITAT grants Full TDS Grant to Agent [Read Order]
In a recent case, the Vishakapatanam bench of the Income Tax Appellate Tribunal ( ITAT ) directed the department to grant full TDS credit to the assessee as he is a commission agent. It noted the...
![Actual Turnover of Kaccha Aarahtias is Commission Charged, Does not include Sales affected on Behalf of Principals: ITAT grants Full TDS Grant to Agent [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/commission-agents-tax-CBDT-circular-Kaccha-Aarahtias-TDS-credit-commission-agents-taxscan.jpg "Actual Turnover of Kaccha Aarahtias is Commission Charged, Does not include Sales affected on Behalf of Principals: ITAT grants Full TDS Grant to Agent [Read Order]")
CBDT Approves SKAN Research Trust for Income Tax Benefits u/s 35 for Scientific Research [Read Notification]
The Central Board of Direct Taxes ( CBDT ) through Notification No. 121/2024 dated November 25, 2024, officially announces SKAN Research Trust, Bengaluru, under the category of "Research Association"...
