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Addition of income u/s 56(2)(viib) read with Rule 11UA (2) of the Income Tax Rules without verifying Valuation report is not permissible: ITAT

Taxscan Team

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that the Addition of income u/s 56(2)(viib) read with Rule 11UA (2) of the...

CIT(A) order accepting Additional Evidence in Violation of Rule 46A of Income Tax Rules not valid:...

CBDT amends Income Tax Rules in case of Refund for Denying TDS Liability: Notifies Form No. 29D...

Income Tax Return: CBDT enables Facility of Excel Offline Utility

Income Tax E-filing Update: CBDT enables Various e-filing statutory forms on Portal

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 9 to July 15, 2022 S.K....

TDS on Perquisites and VDA: CBDT Notifies Revised Returns [Read Notification]

In view of the recent amendments to impose TDS on the perquisites of businessmen and professionals and the virtual digital assets (VDAs), the Central Board of Direct Taxes (CBDT) has notified the...

PAN, Aadhaar mandatory for Transactions above Rs. 20 Lakh: CBDT amends Income Tax Rules [Read Notification]

The Central Board of Direct Taxes (CBDT) issued a notification on May 10, 2022, amending the income tax rules to make the furnishing of a Permanent Account Number (PAN) or Aadhaar compulsory for a...

Income Tax Dept issues Instructions for filing Form 10BD [Read Instructions]

The income tax department has issued an instruction for the filing of form 10BD. The income tax Department has made live form 10BD, return of donation. 31st May is the last date for filing the form. ...

Delay in filing Form 67 can’t be a reason to deny Foreign Tax Credit: ITAT [Read Order]

The ITAT, Bangalore bench, consisting of members Beena Pillai (Judicial Member) and Chandra Poojari (Accountant Member) has ruled that Rule 128 of the Income Tax Rules which requires the assessee to...

CBDT releases Detailed Circular regarding TDS and Income Tax Deduction on Salaries for AY 2021-22 [Read Circular]

The Central Board of Direct Taxes (CBDT) has released a circular regarding Tax Deduction at Source (TDS) and income tax deduction on salaries for the year 2021-22. The Circular issued today...

Income Tax Department issues Annual Information Statement (AIS) Handbook [Read Handbook]

The Directorate of Income Tax (Systems) has issued an Annual Information Statement (AIS) Handbook to develop a common and shared understanding related to Annual Information Statement (AIS) and...

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