![Onus to Prove Genuineness of Transaction of Sale of Share not being Bogus not Discharged by Mere Filing of Documentary Evidence: ITAT Confirms Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Onus-Prove-Genuiness-Transaction-Sale-Share-Bogus-Documentary-Evidence-ITAT-Income-tax-taxscan.jpg "Onus to Prove Genuineness of Transaction of Sale of Share not being Bogus not Discharged by Mere Filing of Documentary Evidence: ITAT Confirms Income Tax Addition [Read Order]")
Onus to Prove Genuineness of Transaction of Sale of Share not being Bogus not Discharged by Mere Filing of Documentary Evidence: ITAT Confirms Income Tax Addition [Read Order]
The Ahemdabad bench of Income Tax Appellate Tribunal (ITAT) held that the onus on the assessee of proving the genuineness of long term capital gains...
![Penalty Imposed u/s 272A(1)(d) of Income Tax Act without Giving Proper Opportunity to Assessee: ITAT Deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-Imposed-of-Income-Tax-Act-without-Giving-Proper-Opportunity-to-Assessee-ITAT-Deletes-Penalty-TAXSCAN.jpg "Penalty Imposed u/s 272A(1)(d) of Income Tax Act without Giving Proper Opportunity to Assessee: ITAT Deletes Penalty [Read Order]")
![AO Disallows 85% Accumulation Claim on Grounds that Form 10 Lacks Specific Purpose of such Claim: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-AO-Disallow-Accumulation-Claim-Form-10-Specific-Purpose-Claim-directs-Re-adjudication-taxscan.jpg "AO Disallows 85% Accumulation Claim on Grounds that Form 10 Lacks Specific Purpose of such Claim: ITAT directs Re-adjudication [Read Order]")
![ITAT deletes TP adjustment made towards rendering of GIS services by AE for Advertising Business [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-TP-adjustment-GIS-services-AE-advertising-business-income-tax-income-tax-taxscans.jpg "ITAT deletes TP adjustment made towards rendering of GIS services by AE for Advertising Business [Read Order]")
Denial of Registration u/s 12AA of Income Tax Act on ground of Non Falling of Trust within Ambit of ‘ Charitable Purpose ‘ : ITAT Directs Re-adjudication [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal ( ITAT) directed the assessing officer to re-adjudicate the rejection of registration under section 12AA of the Income Tax Act,1961 due to the...
![Denial of Registration u/s 12AA of Income Tax Act on ground of Non Falling of Trust within Ambit of ‘ Charitable Purpose ‘ : ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Denial-of-Registration-Income-Tax-Act-on-ground-of-Non-Falling-of-Trust-within-Ambit-of-Charitable-Purpose-ITAT-Directs-Re-adjudication-TAXSCAN.jpg "Denial of Registration u/s 12AA of Income Tax Act on ground of Non Falling of Trust within Ambit of ‘ Charitable Purpose ‘ : ITAT Directs Re-adjudication [Read Order]")
Fee Paid for Late Filing of Professional Tax Return is Penal in Nature: ITAT Upholds Disallowance [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has upheld the disallowance as the fee paid for late filing of professional tax return was penal in nature. The assessee, Shriram Chits...
![Fee Paid for Late Filing of Professional Tax Return is Penal in Nature: ITAT Upholds Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Fee-Paid-for-Late-Filing-of-Professional-Tax-Return-is-Penal-in-Nature-ITAT-Upholds-Disallowance-TAXSCAN.jpg "Fee Paid for Late Filing of Professional Tax Return is Penal in Nature: ITAT Upholds Disallowance [Read Order]")
Income Tax Update: Biometric-based Authentication available in Protean and UTIISL for Demographic Mismatch in PAN-Aadhar Link
The PAN-Aadhaar demographic mismatching fix has been mentioned by the Income Tax Department. The taxpayers are already aware that there is a Rs. 1000 fine if the PAN and Aadhaar are not linked by...
Additional Income Tax on Dividend paid by Domestic Company to Non-Resident Shareholders shall be at Rate Prescribed u/s115-O not DTAA: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the additional income tax on dividends paid by domestic companies to non-resident shareholders should be at rate prescribed...
![Additional Income Tax on Dividend paid by Domestic Company to Non-Resident Shareholders shall be at Rate Prescribed u/s115-O not DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Additional-Income-Tax-on-Dividend-paid-by-Domestic-Company-to-Shareholders-shall-be-at-Rate-Prescribed-DTAA-ITAT-TAXSCAN.jpg "Additional Income Tax on Dividend paid by Domestic Company to Non-Resident Shareholders shall be at Rate Prescribed u/s115-O not DTAA: ITAT [Read Order]")
Non-Mentioning of Business Income in Books of Account cannot be Sole Reason to Invoke S. 115BBE of the Income Tax Act: ITAT [Read Order]
The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) held that Non-mentioning of the business income in the books of account cannot be the sole reason to invoke the provisions of Section...
![Non-Mentioning of Business Income in Books of Account cannot be Sole Reason to Invoke S. 115BBE of the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-Business-income-Non-Mentioning-of-Business-Income-Books-of-Account-Business-Income-in-Books-of-Account-Invoke-taxscan.jpg "Non-Mentioning of Business Income in Books of Account cannot be Sole Reason to Invoke S. 115BBE of the Income Tax Act: ITAT [Read Order]")
Additional Income Tax on Dividend paid by Domestic Company to Non-Resident Shareholders shall be at Rate Prescribed u/s115-O not DTAA: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the additional income tax on dividends paid by domestic companies to non-resident shareholders should be at rate prescribed...
![Additional Income Tax on Dividend paid by Domestic Company to Non-Resident Shareholders shall be at Rate Prescribed u/s115-O not DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/additional-income-tax-Dividend-domestic-company-non-resident-shareholders-income-tax-income-tax-taxscan.jpg "Additional Income Tax on Dividend paid by Domestic Company to Non-Resident Shareholders shall be at Rate Prescribed u/s115-O not DTAA: ITAT [Read Order]")
No Income Tax on Amount Received Under IT & SAP Software Services under Fees for Technical Services: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the services rendered under IT & SAP service agreement are different from technical collaboration agreement. Thus the receipt of...
![No Income Tax on Amount Received Under IT & SAP Software Services under Fees for Technical Services: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/No-Income-Tax-on-Amount-Received-Under-IT-SAP-Software-Services-under-Fees-for-Technical-Services-ITAT-TAXSCAN.jpg "No Income Tax on Amount Received Under IT & SAP Software Services under Fees for Technical Services: ITAT [Read Order]")