CBDT Clarifies definition of 'Sikkimese' under IT Act
The term “Sikkimese” defined for the purposes of Section 10(26AAA) of Income Tax Act, 1961, is only for the purposes of the Income-tax Act, 1961, and...
![Denying Exemption u/s 80P of IT Act merely on ground of Belated Filing of Return Is not Justifiable [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Denying-Exemption-Exemption-Income-Tax-Act-IT-Act-Filing-of-Return-Justifiable-Taxscan-.jpg "Denying Exemption u/s 80P of IT Act merely on ground of Belated Filing of Return Is not Justifiable [Read Order]")
![Income Limit u/s 149 IT Act not met: Rajasthan HC stays Time barred Re-assessment Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Income-Income-Limit-IT-Act-Rajasthan-High-Court-Time-barred-Re-assessment-Re-assessment-Proceedings-Taxscan.jpg "Income Limit u/s 149 IT Act not met: Rajasthan HC stays Time barred Re-assessment Proceedings [Read Order]")
![Payment for Time charter of ship does not fall under the ambit of royalty and is not taxable under section 9(1)(vi) of the IT Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Payment-Time-charter-of-ship-royalty-IT-Act-ITAT-taxscan.jpg "Payment for Time charter of ship does not fall under the ambit of royalty and is not taxable under section 9(1)(vi) of the IT Act: ITAT [Read Order]")
Disallowance u/s. 40(a)(i) cannot be Invoked in view of Retrospective Amendment to S. 195 Imposing TDS on Payment to Non-Residents: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) of Chennai Bench ruled that the disallowance imposed under Section 40(a)(i) of the Income Tax Act, 1961, prohibiting Tax Deduction Source (TDS) on payments to...
![Disallowance u/s. 40(a)(i) cannot be Invoked in view of Retrospective Amendment to S. 195 Imposing TDS on Payment to Non-Residents: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Disallowance-us.-40ai-Retrospective-Amendment-to-S.-195-Imposing-TDS-Payment-Non-Residents-ITAT-Taxscan.jpg "Disallowance u/s. 40(a)(i) cannot be Invoked in view of Retrospective Amendment to S. 195 Imposing TDS on Payment to Non-Residents: ITAT [Read Order]")
Late Filing of Returns during Re-Assessment Only to Frustrate Time Limit: Bombay HC Upholds Proceedings [Read Order]
The High Court of Bombay at Goa has recently upheld the re-assessment proceedings by the income tax department finding that the late filing of income tax returns by the assessee was with an intention...
![Late Filing of Returns during Re-Assessment Only to Frustrate Time Limit: Bombay HC Upholds Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Late-Filing-of-Returns-Re-Assessment-Frustrate-Time-Limit-Bombay-HC-taxscanProceedings.jpg "Late Filing of Returns during Re-Assessment Only to Frustrate Time Limit: Bombay HC Upholds Proceedings [Read Order]")
Execution of Registered Sale Deed is a Valid 'Transfer': Telangana HC upholds Income Tax Addition [Read Order]
A division bench of the Telangana High Court has held that the execution of a registered sale deed shall be treated as a valid “transfer” within the meaning of Section 2(47)(V) of the Income Tax Act,...
![Execution of Registered Sale Deed is a Valid Transfer: Telangana HC upholds Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Registered-Sale-Deed-Telangana-high-court-taxscan.jpeg "Execution of Registered Sale Deed is a Valid Transfer: Telangana HC upholds Income Tax Addition [Read Order]")
![Charitable entity u/s 2(15) of Income Tax Act eligible for Exemption u/s 11: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Charitable-entity-IT-Act-ITAT-taxscan.jpeg "Charitable entity u/s 2(15) of Income Tax Act eligible for Exemption u/s 11: ITAT [Read Order]")
Expenditure resulting in Income or Substantial Income not necessary for granting Deduction for Business Purpose: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) has held that, Expenditure resulting in income or substantial income not necessary for granting deduction for business purposes. The assessee, M/s....
![Expenditure resulting in Income or Substantial Income not necessary for granting Deduction for Business Purpose: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Expenditure-income-substantial-income-deduction-business-ITAT-Taxscan.jpg "Expenditure resulting in Income or Substantial Income not necessary for granting Deduction for Business Purpose: ITAT [Read Order]")
Setback to Wipro: Deduction to EOU u/s 10B can be denied on for Delay in filing Declaration, rules Supreme Court [Read Order]
A two-judge bench of the Supreme Court, while considering an appeal by Wipro Ltd., has held that the deduction to Export-oriented Units (EOU) under section 10(8) of the Income Tax Act, 1961 can be...
![Setback to Wipro: Deduction to EOU u/s 10B can be denied on for Delay in filing Declaration, rules Supreme Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Wipro-Deduction-EOU-sole-ground-Declaration-Supreme-Court-taxscan.jpg "Setback to Wipro: Deduction to EOU u/s 10B can be denied on for Delay in filing Declaration, rules Supreme Court [Read Order]")
Cash Deposits not Corroborated with Business Receipts or Cash Withdrawals: ITAT upholds Addition u/s 68 [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that cash deposits are not corroborated with business receipts or cash withdrawals and upholds addition under section 68 of IT Act. ...
![Cash Deposits not Corroborated with Business Receipts or Cash Withdrawals: ITAT upholds Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Cash-Deposits-Business-Receipts-Cash-Withdrawals-ITAT-Taxscan.jpg "Cash Deposits not Corroborated with Business Receipts or Cash Withdrawals: ITAT upholds Addition u/s 68 [Read Order]")