Read all Latest Updates on and about section 250 of the Income Tax Act

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Basic Condition as Stipulated under Section 271(1)(c) not been Fulfilled: ITAT Deletes Penalty [Read Order]

Gayathri C.H

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, on finding that the basic condition as stipulated...

Non-Application of Mind by AO: ITAT quashes Income Tax Penalty u/s 271(1)(c) [Read Order]

Setback to Deutsche India: ITAT confirms Disallowance on Delayed Payment of Employee’s Contribution...

Income Tax Deduction Claim u/s 80IA cannot be denied for Vague and Ambiguous Reasons: ITAT [Read...

Addition of Deemed Rent cannot be made in respect of a Non-Habitable Residential Flat: ITAT [Read...

Addition to Difference in Stock as per Books and Valuation Report can't be made without Credible Evidence: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that an addition on the difference in stock as per books and valuation report can't be made without credible evidence. The...

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. ...

Liaison Office doesn't constitute PE in India, No Income Tax Addition: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal(ITAT) has held that the Liaison office doesn't constitute PE in India and Income tax addition is not permissible. Nagase And Company Ltd., the...

Interest expenses u/s 36(1)(iii) not allowable for Utilization of Funds for Investment in Shares of Subsidiary Company: ITAT [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT), held that Interest expenses under Section 36(1)(iii) of the Income Tax Act, 1961 not allowable for utilization of funds for investment...

Non-Filing of Income Tax Return amounts to Escapement of Income: ITAT upholds Reassessment u/s 147 [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, in an appeal filed before it, while upholding the reassessment under section 147 of the Income Tax Act, 1961, held that...

Supportive Services with Certificate for Non-Deduction of TDS issued u/s 195(2), Entitled to Allowance: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, in an appeal filed before it, held that supportive services with certificate for non-deduction of TDS, issued u/s 195(2) of the...

Forfeiture of Earnest Money is Expenditure: ITAT deletes Disallowance [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held thatthe forfeiture of earnest money from OMDC is an expenditure and deleted the disallowance. Vardhaman Axles & Wheels...

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