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Termination of Employment due to Misconduct is not beyond the control of Assessee: ITAT refuses Exemption u/s 10(38) to Employee

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that termination of employment due to misconduct is not beyond the control...

ITAT Weekly Round-Up

Filing of Form 67 is a Procedural Requirement: Non-Compliance cannot attract Denial of FTC, rules...

NFAC Bound by Decisions of Jurisdictional High Court where AO is situated: ITAT [Read Order]

Income Tax Recovery Proceedings: Kerala HC directs NFAC to expedite hearing of Appeal and Stay...

Decisions of Jurisdictional High Courts binding on NFAC: ITAT [Read Order]

The Bangalore bench of Income Tax Appellate Tribunal (ITAT) ruled that if there are conflicting views rendered by different High Courts, the view taken by the jurisdictional High Court is binding in...

Company cannot have “Salary Income”: ITAT deletes Addition by NFAC [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Hyderabad bench has deleted an addition by the National Faceless Assessment Centre ( NFAC ) by holding that the “Company” cannot have salary income under...

ITAT deletes Income Tax Addition u/s 68 When Assessee submitted Corroborative Evidence related to Creditors [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of unexplained Creditors under section 68 of the Income Tax Act,1961 when the assessee submitted Corroborative...

NFAC bound to Follow CBDT Circular: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Hyderabad bench has held that the National faceless Appeal Centre (NFAC) is bound to follow the circulars of the Central Board of Direct Taxes (CBDT). ...

Delay in filing TDS would attracts Late Fee u/s 243E of Income Tax Act: ITAT [Read Order]

Income Tax Appellate Tribunal (ITAT) of Amritsar bench, entertained by M.L. Meera (Accountant Member) and Anikesh Banerjee (Judicial Member) upheld the decision of the Commissioner of Income Tax...

Notice issued to dissolved Firm not due Notice: Kerala HC quashes Income Tax Demand for violation on Natural Justice Principles [Read Order]

A Single Bench of Kerala High Court has recently set aside the income tax demand notice issued to the assessee - P A Logistics for violation of natural justice principles of due notice and fair...

Interest paid on Belated Payments of Service Tax is allowable for deduction u/s 37(1) Income Tax Act: ITAT [Read Order]

In a recent ruling, Chennai Bench of the Income Tax Appellate Tribunal (ITAT) presided over by a Judicial Member V. Durga Rao and an Accountant Member G. Manjunatha decided that the interest paid on...

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