![Book profit to be increased by Expenses debited to P&L w.r.t. exempt income, not Disallowance u/s 14A: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/08/21/500x300_2078946-disallowance-us-14a-it-act-for-computing-book-profit-us-115jb-act-itat-taxscan.webp "Book profit to be increased by Expenses debited to P&L w.r.t. exempt income, not Disallowance u/s 14A: ITAT [Read Order]")
Book profit to be increased by Expenses debited to P&L w.r.t. exempt income, not Disallowance u/s 14A: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has clarified that while computing book profits under Section 115JB of the Income Tax...
![Income Tax Rules Amendment: CBDT Fixes ₹4 Lakh Salary and ₹8 Lakh Gross Income Thresholds [Read Notification]](https://images.taxscan.in/h-upload/2025/08/19/250x150_2078208-cbdt-salary-income-tax-rules-taxscan.webp "Income Tax Rules Amendment: CBDT Fixes ₹4 Lakh Salary and ₹8 Lakh Gross Income Thresholds [Read Notification]")
![Loans Qualify as NPAs After 180 Days of Default Under Income Tax Rules, Not 90 Days per NHB Guidelines: Supreme Court Rejects HUDCO’s RP [Read Judgement]](https://images.taxscan.in/h-upload/2025/08/04/250x150_2072916-declaration-of-loan-account-declaration-of-loan-account-as-npa-npa-nclat-nclat-rules-nclat-rules-in-favour-of-ubi-loan-account-non-performing-assets-insolvency-bankruptcy-code-ibc-taxscan.webp "Loans Qualify as NPAs After 180 Days of Default Under Income Tax Rules, Not 90 Days per NHB Guidelines: Supreme Court Rejects HUDCO’s RP [Read Judgement]")
![Only Investments Yielding Exempt Income Can Be Considered Under Section 14A: ITAT Dismisses Revenue’s Appeal Against Assessee [Read Order]](https://images.taxscan.in/h-upload/2025/07/31/250x150_2071413-investments-yielding-exempt-income-considered-under-section-14a-itat-dismisses-revenues-appeal-against-assessee-taxscan.webp "Only Investments Yielding Exempt Income Can Be Considered Under Section 14A: ITAT Dismisses Revenue’s Appeal Against Assessee [Read Order]")
AO Refuses Nil Withholding Tax Certificate Due to Valuation Ambiguity: Delhi HC Directs Fresh Valuation in Share Transfer Case [Read Order]
In a recent ruling, the Delhi High Court set aside an income tax order refusing a Nil withholding tax certificate due to valuation ambiguity in a proposed share transfer between related foreign...
![AO Refuses Nil Withholding Tax Certificate Due to Valuation Ambiguity: Delhi HC Directs Fresh Valuation in Share Transfer Case [Read Order]](https://images.taxscan.in/h-upload/2025/07/18/500x300_2065052-ao-refuses-nil-withholding-tax-certificate-nil-withholding-tax-certificate-tax-certificate-taxscan.webp "AO Refuses Nil Withholding Tax Certificate Due to Valuation Ambiguity: Delhi HC Directs Fresh Valuation in Share Transfer Case [Read Order]")
Genuineness of Business Transaction Affirmed: ITAT Deletes Rs. 4.90 Lakh Addition for Director's Loan [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has set aside an addition of Rs. 4.90 lakh made under Section 68 of the Income Tax Act, 1961, and affirmed the genuineness of a business...
![Genuineness of Business Transaction Affirmed: ITAT Deletes Rs. 4.90 Lakh Addition for Directors Loan [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/ITAT-Delhi-ITAT-Unexplained-Cash-Unexplained-Cash-Credits-Taxscan-1.jpg "Genuineness of Business Transaction Affirmed: ITAT Deletes Rs. 4.90 Lakh Addition for Directors Loan [Read Order]")
Sikkimese Identity Alone Not Sufficient for S.10(26AAA) Exemption, All Conditions Must Be Verified: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) has set aside an order that granted exemption under Section 10(26AAA) of the Income Tax Act, 1961 and ruled that all statutory...
![Sikkimese Identity Alone Not Sufficient for S.10(26AAA) Exemption, All Conditions Must Be Verified: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/Undue-Benefit-Tax-Payer-Tax-ITAT-Taxscan.jpg.webp "Sikkimese Identity Alone Not Sufficient for S.10(26AAA) Exemption, All Conditions Must Be Verified: ITAT [Read Order]")
Income Tax Rules Amendment: Non-Resident Entities with Liaison Offices in India must File Form 49C within 8 Months of FY-End [Read Notification]
The Ministry of Finance, through the Central Board of Direct Taxes ( CBDT ), has issued Notification No. 14/2025 dated February 7, 2025, introducing the Income-tax (Fourth Amendment) Rules, 2025....
![Income Tax Rules Amendment: Non-Resident Entities with Liaison Offices in India must File Form 49C within 8 Months of FY-End [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/02/Income-Tax-Rules-Income-Tax-Rules-Amendment-Liaison-Offices-in-India-Taxscan.jpg "Income Tax Rules Amendment: Non-Resident Entities with Liaison Offices in India must File Form 49C within 8 Months of FY-End [Read Notification]")
CBDT Introduces Presumptive Income Tax Rule 6GB: Conditions for Non-Residents Engaged in Cruise Ship Operations [Read Notification]
The Ministry of Finance, through the Central Board of Direct Taxes ( CBDT ), issued Notification No. 9/2025 dated January 21, 2025, introducing amendments to the Income-tax Rules, 1962, to provide...
![CBDT Introduces Presumptive Income Tax Rule 6GB: Conditions for Non-Residents Engaged in Cruise Ship Operations [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/01/CBDT-Income-Tax-Rule-Income-Tax-Rule-6GB-Cruise-Ship-Operations-Non-Residents-Engaged-taxscan.jpg "CBDT Introduces Presumptive Income Tax Rule 6GB: Conditions for Non-Residents Engaged in Cruise Ship Operations [Read Notification]")