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Income Tax Act 1961

Waiver of Principal Loan Amount in Cash cannot be treated as Business Perquisite: ITAT [Read Order]

Taxscan Team

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the waiver of principal loan amount in cash cannot be treated as business...

Customary Practice of NRI Providing Cash to Parents not 'Suspicious': ITAT deletes Cash Deposit by...

Sufficiency/Adequacy of 'Reason to Believe' need not be considered to determine Validity of Search...

CAM charges which are Contractual Payments made for availing Services are subject to TDS u/s 194C:...

Surplus returned from Common Fund contributed by persons together doesn't amount to profit, No need...

CBDT notifies Income Tax Exemption to Bihar Electricity Regulatory Commission [Read Notification]

The Central Board of Direct Taxes (CBDT) has notified the tax exemption to the Bihar Electricity Regulatory Commission under section 10(34) of the Income Tax Act, 1961. The notification issued on...

Order passed u/s 263 will not sustainable when no error in Assessment Order: ITAT [Read Order]

The Income Tax Appellate Tribunal, Rajkot bench held that the order passed u/s 263 will not sustainable when no error in the assessment order by AO. The appellant was represented by Shri Mehul...

Dell hiring Chartered Accountants

The Dell Technologies has invited applications for the post of Accounting Senior Analyst - Stat audit. Responsibilities: Preparation of financial statementsAudit Support: Understand the process...

Dell - hiring - Chartered Accountant - taxscan

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 July 1 to July 8, 2022 M/s....

Income Tax Officials bound to follow CBDT Circular: ITAT quashes Revisional Order [Read Order]

The Cochin bench of the Income Tax Appellate Tribunal (ITAT) comprising Shri George George K., Judicial Member and Shri Laxmi Prasad Sahu, Accountant Member has held that the circulars issued by the...

Income Tax Dept notifies Tax Exemption to Uttar Pradesh Electricity Regulatory Commission [Read Notification]

The Central Board Direct Taxes (CBDT) has notified tax exemption to the Uttar Pradesh Electricity Regulatory Commission under section 10(34) of the Income Tax Act, 1961. A notification issued on...

Cash Loan from Father’s Proprietary Concern does not attract S. 269SS and Penalty: ITAT [Read Order]

The Rajkot bench of the Income Tax Appellate Tribunal (ITAT) consisting of Shri Waseem Ahmed (Accountant Member) and Shri Siddhartha Nautiyal (Judicial Member) has held that the cash loan accepted...

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