Read all Latest Updates on and about section 143(3) of the Income Tax Act

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section 143(3) of the...

No “Purchase” If Sale Deed Executed in favor of Assessee to Claim Capital Gain exemption u/s 54/54F: ITAT [Read Order]

Gayathri C.H

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that no purchase can be said to be made, if...

Mere Appearance of staff of person in Judicial Custody should not be taken as appearance by Assessee...

Remand back of matter to AO to calculate Disputed Tax and not Fresh Adjudication: Bombay HC quashes...

Relief to PWC: ITAT direct Re-Adjudication on Income Tax Penalty Cases [Read Order]

Interest paid on Customs Duty Deductible u/s 43B of Income Tax Act: ITAT [Read Order]

Initiation of Revision Jurisdiction on Mere Conjectures, Suspicions and Surmises is invalid: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ), observed that initiation of revision jurisdiction on mere conjectures, suspicions and surmises is invalid. The assessment in the...

TDS Not Applicable to Trade Discount to Customers: ITAT [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) has while dismissing the appeal held that Tax Deduction at Source shall not be applicable to trade discount to customers. Konda...

Statutory Provisions of S. 244A of Income Tax Act cannot be Altered by CBDT Circular: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, held that statutory provisions of S. 244A of the Income Tax Act cannot be altered by CBDT circular. ...

Sale Proceeds of Agricultural Land Not Taxable as Capital Gain: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, held that sale proceeds of agricultural land is not taxable as capital gain. The aforesaid...

Road Construction Expenses Incurred to provide Easy and Smooth Access from Highway to Factory Allowable as Business Expenditure: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Rajkot Bench, has recently, in an appeal filed before it, held that road construction expenses incurred to provide easy and smooth access from highway to...

Premium paid by Company towards Life Insurance Policy of Director in Individual Capacity Not “Business Expenditure”: ITAT [Read Order]

Income Tax Appellate Tribunal ( ITAT ) Pune Bench ruled that the premium paid by the company towards the Life Insurance Policy of the Director in individual capacity is not Business Expenditure. ...

S. 50C Not Applicable to Buyer of Property: ITAT directs Re-do Addition u/s 56(2)(vii) [Read Order]

Pune Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to re-do the addition under section 56(2)(vii) of Income Tax Act, 1961 as Section 50C of Income Tax is not applicable to...

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