![Section 2(22) of Income Tax Act cannot be invoked against Non-Beneficiary Shareholders in company receiving Company Loans: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-tax-Company-Loans-Shareholders-TAXSCAN.jpg "Section 2(22) of Income Tax Act cannot be invoked against Non-Beneficiary Shareholders in company receiving Company Loans: ITAT [Read Order]")
Section 2(22) of Income Tax Act cannot be invoked against Non-Beneficiary Shareholders in company receiving Company Loans: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that Section 2 (22) of Income Tax cannot be invoked against Non-Beneficiary...
![Share Capital from Directors and Shareholders of Company duly discharged with Evidence: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Share-Capital-Directors-Shareholders-Directors-and-Shareholders-of-Company-ITAT-taxscan.jpg "Share Capital from Directors and Shareholders of Company duly discharged with Evidence: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]")
![ITAT dismisses refund of excess DDT paid to non resident company [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/itat-delhi-ITAT-decision-on-excess-DDT-refund-dividend-distribution-tax-Dismissal-of-excess-DDT-refund-non-resident-DDT-payment-taxscan.jpg "ITAT dismisses refund of excess DDT paid to non resident company [Read Order]")
Change in Individual Shareholding of Shareholders doesn't attract Section 79 of Income Tax Act: ITAT Allows Set off of Brought Forward Lossess [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) allowed set off of brought forward losses by holding that change in individual shareholding of the shareholders would also not attract the...
![Change in Individual Shareholding of Shareholders doesnt attract Section 79 of Income Tax Act: ITAT Allows Set off of Brought Forward Lossess [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Change-Individual-Shareholding-Shareholders-attract-Income-Tax-Act-ITAT-Allows-Set-off-Brought-Forward-Lossess-taxscan.jpg "Change in Individual Shareholding of Shareholders doesnt attract Section 79 of Income Tax Act: ITAT Allows Set off of Brought Forward Lossess [Read Order]")
Section 56(2)(vii)(3) of Income Tax Act Not Applicable for Bonus Shares: ITAT quashes Appeal [Read Order]
The New Delhi bench of ITAT quashed the appeal by Deputy Commissioner of Income Tax (DCIT), (the appellant) for levying Income tax from Aruna Chandhok, (the respondent) for the bonus shares she...
![Section 56(2)(vii)(3) of Income Tax Act Not Applicable for Bonus Shares: ITAT quashes Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-Act-Applicable-Bonus-Shares-ITAT-Appeal-TAXSCAN-1.webp "Section 56(2)(vii)(3) of Income Tax Act Not Applicable for Bonus Shares: ITAT quashes Appeal [Read Order]")
Section 56(2)(vii)(3) of Income Tax Act Not Applicable for Bonus Shares: ITAT quashes Appeal [Read Order]
The New Delhi bench of ITAT quashed the appeal by Deputy Commissioner of Income Tax (DCIT), (the appellant) for levying Income tax from Aruna Chandhok, (the respondent) for the bonus shares she...
![Section 56(2)(vii)(3) of Income Tax Act Not Applicable for Bonus Shares: ITAT quashes Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-Act-Applicable-Bonus-Shares-ITAT-Appeal-TAXSCAN.webp "Section 56(2)(vii)(3) of Income Tax Act Not Applicable for Bonus Shares: ITAT quashes Appeal [Read Order]")
Non-Consecutive Minutes Book Numbering: MCA Penalises L&T Employees Welfare Foundation and its Director
The Ministry of Corporate Affairs (MCA) has imposed a penalty on L&T Employees Welfare Foundation Private Limited for violating Section 118 of the Companies Act, 2013 and pertains to the improper...
Additional Income Tax on Dividend paid by Domestic Company to Non-Resident Shareholders shall be at Rate Prescribed u/s115-O not DTAA: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the additional income tax on dividends paid by domestic companies to non-resident shareholders should be at rate prescribed...
![Additional Income Tax on Dividend paid by Domestic Company to Non-Resident Shareholders shall be at Rate Prescribed u/s115-O not DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Additional-Income-Tax-on-Dividend-paid-by-Domestic-Company-to-Shareholders-shall-be-at-Rate-Prescribed-DTAA-ITAT-TAXSCAN.jpg "Additional Income Tax on Dividend paid by Domestic Company to Non-Resident Shareholders shall be at Rate Prescribed u/s115-O not DTAA: ITAT [Read Order]")
Additional Income Tax pay by Domestic Company to Resident Shareholder shall be at rate mentioned Section 115-O of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that additional income tax pay by domestic companies to resident shareholders should be at the rate mentioned under Section 115-O of...
![Additional Income Tax pay by Domestic Company to Resident Shareholder shall be at rate mentioned Section 115-O of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Additional-Income-Tax-pay-Domestic-Company-Resident-Shareholder-shall-at-rate-mentioned-Section-Income-Tax-Act-ITAT-TAXSCAN.jpg "Additional Income Tax pay by Domestic Company to Resident Shareholder shall be at rate mentioned Section 115-O of Income Tax Act: ITAT [Read Order]")
Commonality or Common Ownership Without Element of Deceit or Fraud not Sufficient for "Lifting Corporate Veil" & Establishing "Alter Ego": Bombay High Court Distinguishes NYK Line & NYK Theseus Corporation
The High Court of Bombay has delivered a significant ruling on the issue of “lifting the corporate veil”. The Bombay High Court has distinguished NYK Line and NYK Theseus Corporation on the...
