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Income Tax Act

HUF is “Person” Liable for getting Its Accounts Audited: ITAT Allows Benefit of Extending Date Explanation 2(a)(ii) to S. 139(1) IT Act [Read Order]

Aparna. M

The Pune bench of Income Tax Appellate Tribunal (ITAT) has recently while allowing the benefit of extending date as per explanation...

Case Digest on Cash Transaction under Section 269SS of the Income Tax Act

Case Digest on Income from House Property under Income Tax Act

No Interest u/s 234A and 234B of Income Tax Act Beyond Date of Self-Assessed Tax: ITAT

Receipts from Leasing/Hiring of RIGs Taxable as Business Profits u/s 44BB of Income Tax Act: ITAT...

Deduction Allowable towards Allocation of R&D Expenses for Eligible Units u/s 80IB and 80IC of Income Tax Act: ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the deduction should be allowed towards allocation of Research and Development (R & D) expenses for eligible units under...

Expenditure towards ESOP Eligible for Deduction u/s 37 of Income Tax Act: ITAT [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) has held that the expenditure towards “Erroneous disallowance of Payment of Employee Stock Option Plan (ESOP) would be eligible for...

Relief to Ride A Cycle Foundation: Applicability of S. 2(15) of Income Tax Act shall not be Based on Default of Parties, says ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench, has recently, in an appeal filed before it, while granting relief to Ride a Cycle Foundation, held that the applicability of S. 2(15) of the...

Advance to Subsidiary Company Written Off Due to Non-Repayment shall be Deductible u/s 37(1) of Income Tax Act: ITAT [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the advance to the subsidiary company which was written off due to the non-repayment should be deductible under Section...

Payments Towards Bus Hire Charges and Wharfage Charges are subject to TDS u/s 194C of Income Tax Act: ITAT [Read Order]

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that payment towards bus hire charges and wharf age charges are subject to Tax Deduction at Source under section 194 C of...

Benefit of TDS shall be Allowed in Intimation u/s 143(1) of Income Tax Act Even If It is Not Deposited: ITAT [Read Order]

The Pune bench of Income Tax Appellate Tribunal ( ITAT ) recently held that benefit of Tax deduction at source should not be allowed in intimation under section 143(1) of Income Tax Act 1961 if it...

Provisions of IBC Overrides All Acts Including Income Tax Act: ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the provisions of IBC would override all the acts including the Income Tax Act 1961. The Revenue filed an appeal against...

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