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Claim of Income Tax dues can’t be excessive than the Resolution Plan approved by NCLT: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Hyderabad bench has held that the claim of Income tax dues can’t be more excessive than the resolution plan approved by NCLT. The assessee filed its...

Claim of Income Tax dues can’t be excessive than the Resolution Plan approved by NCLT: ITAT [Read Order]
Taxscan Team

Income Tax Provisional Attachment against PC Officials Expires: Delhi HC disposes Petition requesting release of 2.5 cr [Read Order]

The Delhi High Court has recently dismissed a petition by P C Financial Services Private Limited observing that the provisional attachment order has expired. Recently, the Reserve Bank of India...

Income Tax Provisional Attachment against PC Officials Expires: Delhi HC disposes Petition requesting release of 2.5 cr [Read Order]
Taxscan Team

No Income Tax on Interest paid by PE to General Enterprises: Branch and Head Offices forms part of same Legal Entity, rules ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that branch and head office forms part of the same legal entity and can’t be taxed on interest paid by PE to General Enterprises. ...

No Income Tax on Interest paid by PE to General Enterprises: Branch and Head Offices forms part of same Legal Entity, rules ITAT [Read Order]
Taxscan Team

Income Tax Deduction u/s 80IB(10) applicable to Commercial Establishments/Shops: ITAT follows SC Ruling [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai bench, while following the Apex Court ruling in the case of Sarkar Builders, held that the deduction under section 80IB(10) of the Income Tax Act,...

Income Tax Deduction u/s 80IB(10) applicable to Commercial Establishments/Shops: ITAT follows SC Ruling [Read Order]
Taxscan Team

Calcutta HC quashes Income Tax Re-Assessment Proceedings against Dead Person [Read Order]

The Calcutta High Court, on Thursday quashed a re-assessment notice under section 148 of the Income Tax Act, 1961 issued against a dead person. The petitioner, sister of the assessee, has...

Calcutta HC quashes Income Tax Re-Assessment Proceedings against Dead Person [Read Order]
Taxscan Team

CBI arrests Four Accused Including Two Senior Tax Assistants Of Income Tax Department in a Bribery Case

The Central Bureau of Investigation has arrested two Tax Assistants posted at Income Tax Department, Hyderabad and Visakhapatnam in a bribery of Rs. 60,000/-. A case was registered against a...

CBI arrests Four Accused Including Two Senior Tax Assistants Of Income Tax Department in a Bribery Case
Taxscan Team

Double Penalty for Non-Linking of PAN-Aadhaar, TDS on Cryptos: Three Major Income Tax Changes from July

1st July 2022 was a significant day for the taxpayers as some new important changes have been made in the Income Tax Act, 1961 which may affect the taxpayer’s life significantly. Non-linking of...

Double Penalty for Non-Linking of PAN-Aadhaar, TDS on Cryptos: Three Major Income Tax Changes from July
Taxscan Team

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