Income Tax Act
![Notional Income from Interest-Free Loans is not taxable in the absence of a specific provision in the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Notional-Income-Income-Interest-Free-Loans-Interest-Loans-taxable-Income-Tax-Act-Income-Tax-Tax-ITAT-Taxscan.jpg "Notional Income from Interest-Free Loans is not taxable in the absence of a specific provision in the Income Tax Act: ITAT [Read Order]")
Notional Income from Interest-Free Loans is not taxable in the absence of a specific provision in the Income Tax Act: ITAT [Read Order]
The Rajkot bench of the Income Tax Appellate Tribunal( ITAT ) has held that notional income from interest-free loans is not taxable in the absence of...
![Bitumen and its by products are ‘Mineral Oil’ u/s 80IB(a) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Bitumen-and-its-by-products-are-Mineral-Oil-of-Income-Tax-Act-ITAT-TAXSCAN.jpg "Bitumen and its by products are ‘Mineral Oil’ u/s 80IB(a) of Income Tax Act: ITAT [Read Order]")
![Difference of grounds between Order and SCN: Delhi HC quashes proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Difference-of-grounds-between-Order-and-SCN-Delhi-HC-show-cause-notice-order-Taxscan.jpg "Difference of grounds between Order and SCN: Delhi HC quashes proceedings [Read Order]")
![LTCG for Sale of Equity Shares as Bogus, not eligible to Exemption u/s 10(38) of Income Tax Act: ITAT confirms Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/LTCG-for-Sale-of-Equity-Shares-as-Bogus-Income-Tax-Act-ITAT-confirms-Income-Tax-Addition-TAXSCAN.jpg "LTCG for Sale of Equity Shares as Bogus, not eligible to Exemption u/s 10(38) of Income Tax Act: ITAT confirms Income Tax Addition [Read Order]")
![Income from Design Charges are business income to compute deduction u/s 10A of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Design-Charges-business-income-business-income-deduction-Income-Tax-Act-Income-Tax-Tax-ITAT-taxscan.jpg "Income from Design Charges are business income to compute deduction u/s 10A of Income Tax Act: ITAT [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 -Residents not required to disclose their Assets situated outside India to the Income Tax Authorities: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai held that Non- Residents are not required to disclose their assets situated outside India to the Income Tax Authorities. The Assessee Manish Vijay...
![Non -Residents not required to disclose their Assets situated outside India to the Income Tax Authorities: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Non-Residents-Assets-situated-outside-India-Income-Tax-Authorities-Taxscan.jpg "Non -Residents not required to disclose their Assets situated outside India to the Income Tax Authorities: ITAT [Read Order]")
Interest paid on Belated Payments of Service Tax is allowable for deduction u/s 37(1) Income Tax Act: ITAT [Read Order]
In a recent ruling, Chennai Bench of the Income Tax Appellate Tribunal (ITAT) presided over by a Judicial Member V. Durga Rao and an Accountant Member G. Manjunatha decided that the interest paid on...
![Interest paid on Belated Payments of Service Tax is allowable for deduction u/s 37(1) Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Interest-paid-Belated-Payments-Service-Tax-Payments-deduction-Income-Tax-Act-Income-Tax-ITAT-taxscan.jpg "Interest paid on Belated Payments of Service Tax is allowable for deduction u/s 37(1) Income Tax Act: ITAT [Read Order]")
Payment receive from Freight/Logistic Support Service cannot treat as Royalty U/S 9(1) (Vii) of Income Tax Act & Art 12 DTAA: ITAT deletes Addition [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that the payment received from freight /logistic support service could not be treated as Royalty Under Section 9(1)(Vii) of...
![Payment receive from Freight/Logistic Support Service cannot treat as Royalty U/S 9(1) (Vii) of Income Tax Act & Art 12 DTAA: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Payment-freight-logistic-support-service-Royalty-Income-Tax-Act-ITAT-taxscan.jpg "Payment receive from Freight/Logistic Support Service cannot treat as Royalty U/S 9(1) (Vii) of Income Tax Act & Art 12 DTAA: ITAT deletes Addition [Read Order]")
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...
Cash Sales by Medical Shops Permitted by RBI during Demonetization, Doctors Prescription and ID of Purchasers Not Required: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench, while deleting an addition under section 68 of the Income Tax Act, 1961 has held that the cash sales by the medical shops and pharmacies...
![Cash Sales by Medical Shops Permitted by RBI during Demonetization, Doctors Prescription and ID of Purchasers Not Required: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Cash-Sales-Medical-Shops-RBI-Demonetizati-Doctors-Prescription-and-ID-of-Purchasers-ITAT-taxscan.jpg "Cash Sales by Medical Shops Permitted by RBI during Demonetization, Doctors Prescription and ID of Purchasers Not Required: ITAT deletes Addition [Read Order]")