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Income Tax Act 1961

No TDS on Commission paid to Partner by Firm: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that commission paid to partners is not covered under Section 194H of the Income Tax...

Income Tax: Pre-Consultation Notice u/s 148A(b) cannot be Challenged through Writ Petition, rules...

Reimbursement of Sales Promotion Expenses incurred through Credit Card to Directors cannot be...

ITAT deletes upward Adjustment on International Transactions for Payments of Interest on FCDs [Read...

Collection of Capitation Fee: Madras HC directs AO to Cancel Registration Certificate of Trust and...

ITAT Weekly Round-Up

This weekly round-up analytically summarizes the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan.in during the previous week from October 29 to November 4, 2022 ...

TPO not to Step into the Shoes of Assessee to Decide Prudence of Expenditure: ITAT [Read Order]

The Income Tax Appellate Tribunal( ITAT ), Mumbai Bench, has recently, in an appeal filed before it, held that the TPO shall not step into the shoes of the assessee to decide the prudence of the...

Mere Suspicion without Valid Reason not sufficient to Initiate Reassessment: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Delhi Bench, has recently, in an appeal filed before it, held that mere suspicion without valid reason is not sufficient to initiate reassessment. The...

Claims on Cess and Surcharge paid on Income Tax: Decoding Rule 132 of Income Tax Rules

On 01.10.2022, the Central Board of Direct Taxes (CBDT), through notification 111/2022, inserted the provision for Application for recomputation of income under sub-section (18) of Section 155 as...

Limitation Period not applicable When There is No Full and True Disclosure: Madras HC [Read Order]

The Madras High Court has recently in a writ petition filed before it, held that limitation period will not be applicable when there is no full and true disclosure by the petitioner. The aforesaid...

Income Tax Dept Issues FAQs on Form 3CEB [Read FAQs]

The income tax department has issued a set of Frequently Asked Questions (FAQs) for filing of form 3CEB under the Income Tax Act, 1961. Form 3CEB is report from an accountant to be furnished...

Donations and Investments made for Charity and Educational Purposes are Deductible: ITAT deletes Additions [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) held that, the donations and investments made for charity by the assessee-trust for charitable purposes and educational purposes in...

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