Failure to Report Non-Disclosure and Non-Submission of Annual Return under Foreign Regulation Rules is Professional Misconduct: ICAI Reprimands CA
The Institute of Chartered Accountants of India (ICAI), reprimanded a Chartered Accountant (CA), and observed that failure to report non-disclosure...
![No Concealment of Particulars and Filing of Inaccurate Particulars of Income: ITAT deletes Penalty u/s Section 271(1)(c) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Concealment-Inaccurate-Particulars-of-Income-Particulars-of-Income-ITAT-deletes-Penalty-ITAT-Penalty-Income-Tax-Act-taxscan.jpg "No Concealment of Particulars and Filing of Inaccurate Particulars of Income: ITAT deletes Penalty u/s Section 271(1)(c) of Income Tax Act [Read Order]")
![CBDT notifies Tax Exemption u/s 10 to Certain Income of Joint Electricity Regulatory Commission for Goa and Union Territories except Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/CBDT-Tax-Exemption-Income-Joint-Electricity-Regulatory-Commission-Goa-Union-Territories-taxscan-1.jpg "CBDT notifies Tax Exemption u/s 10 to Certain Income of Joint Electricity Regulatory Commission for Goa and Union Territories except Delhi [Read Order]")
![Advance received for Sale of Property is taxable under ‘Income from other sources’ if Agreement for Sale is not registered u/s 56(2)(ix) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Advance-Sale-of-Property-Income-from-other-sources-Agreement-for-Sale-Income-Tax-Act-ITAT-taxscan.jpg "Advance received for Sale of Property is taxable under ‘Income from other sources’ if Agreement for Sale is not registered u/s 56(2)(ix) of Income Tax Act: ITAT [Read Order]")
![Mere Suspicion Not Enough for Income Tax Dept to make Additions to Taxpayers Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Mere-Suspicion-Suspicion-Income-Tax-Mere-Suspicion-Not-Enough-for-Income-Tax-Dept-taxscan.jpg "Mere Suspicion Not Enough for Income Tax Dept to make Additions to Taxpayers Income: ITAT [Read Order]")
Tax Credit u/a 23 of Indo-Thai DTAA can be Claimed only when Income Tax had been Paid by a Subsidiary in Thailand: Delhi HC [Read Order]
The Delhi High Court has held that tax credit under Article 23 of the Indo-Thai Double Taxation Avoidance Agreement (DTAA) can be claimed only when income tax had been paid by a subsidiary in...
![Tax Credit u/a 23 of Indo-Thai DTAA can be Claimed only when Income Tax had been Paid by a Subsidiary in Thailand: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Tax-Credit-Indo-Thai-DTAA-DTAA-Tax-Indo-Thai-DTAA-can-be-Claimed-only-when-Income-Tax-had-been-Paid-by-a-Subsidiary-Subsidiary-in-Thailand-Taxscan.jpg "Tax Credit u/a 23 of Indo-Thai DTAA can be Claimed only when Income Tax had been Paid by a Subsidiary in Thailand: Delhi HC [Read Order]")
Central Govt sends 1 Lakh notices for Non-Filing of Returns, Underreported and Misrepresented Income
The Finance Minister of the Union revealed that 100,000 notices have been issued by the Income Tax Department to taxpayers who failed to submit their income tax returns. Furthermore, individuals who...
CBDT notifies Aircraft Lease Business unit under IFSC exempted from TDS u/s 194 from any Income in nature of dividend w.e.f. September 1st 2023 [Read Notification]
The Central Board of Direct Taxes (CBDT) vide notification no. S.O. 3254(E) published on 20th July 2023 has notified the exemption of income in nature of divided incurred by the aircraft lease...
Income from Letting Out properties along with other Amenities are chargeable to Tax under head ‘’Income from Business” : ITAT deletes revision order
The Income Tax Appellate Tribunal (ITAT) Jaipur Bench held that Income from letting out properties along with other amenities are chargeable to tax under the head of Income from business ....
Commission Earned from Provision of Accommodation Entry shall be Added to Total Income of Assessee: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the commission earned from the provision of accommodation entry shall be added to the total income of the assessee. The...
![Commission Earned from Provision of Accommodation Entry shall be Added to Total Income of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Commission-Earned-from-Provision-of-Accommodation-Entry-Commission-Earned-Commission-Provision-of-Accommodation-Entry-shall-be-Added-to-Total-Income-of-Assessee-Income-Assessee-ITAT-Taxscan.jpg "Commission Earned from Provision of Accommodation Entry shall be Added to Total Income of Assessee: ITAT [Read Order]")