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The Jodhpur Bench of Income Tax Appellate Tribunal (ITAT) ruled that the taxpayer, the legal owner, is not liable for TDS under Section 194C, where a declaration under Section 194C(6) accompanying a PAN is received via the payees who have the vehicle, but they are not registered owners. The bench of S. Seethalakshmi (Judicial Member) […]
No addition can be made for the delay in filing Form No. 10 within the due date of the Income Tax Return under Section 139 of the Income Tax Act, 1961 since the same is been condoned by the commissioner of the income tax (exemption), Income Tax Appellate Tribunal (ITAT) in Jodhpur ruled. The taxpayer, […]
The Income Tax Department lacks the authority to impose late fees and interest related to Tax Deduction at Source (TDS) as per the notification under Section 200A of the Income Tax Act, 1961, before the amendment of the law, the Income Tax Appellate Tribunal (ITAT), Jodhpur bench, has ruled. In this case, Dinesh Infrastructure Private, […]
There is no need to disallow part of the director’s remuneration and depreciation if the business is stopped due to a temporary lull, the Jodhpur bench of the Income Tax Appellate Tribunal (ITAT) ruled. The mere pre-requisite for the permission of depreciation would be that the business must not have been closed out once and […]
The late return could not get submitted post lapse of 1 year from the finish of the assessment year (AY), the income tax appellate tribunal (ITAT), Jodhpur Bench. The stated observation was made by the Jodhpur ITAT at the time when the petition was preferred before it via the taxpayer as against the order of […]
In a recent decision, the Income Tax Appellate Tribunal (ITAT), Jodhpur Bench, ruled that TDS under Section 194IA is only applicable when the consideration for transferring immovable property is greater than Rs. 50 lacs. When the assessee filed an appeal against the judgement of the CIT(A), National Faceless Appeal Center, Delhi, dated 20-10-2021, for the […]
The respondent (assessee) is required to have deducted tax under Section 194I of the Income Tax Act, 1961, from the storage charges paid by the taxpayer, The Bombay High Court ruled. The bench of Justice K. R. Shriram and Justice Sharmila U. Deshmukh noted that the storage tanks in question are not eligible either as […]
Rajasthan’s Parliament Affairs Ministers introduced the amended bill on Wednesday related to Goods and Service Tax Laws. The minister Shanti Kumar Dhariwal announced the commencement of the said Bill through a voice note in the Parliament House. During the discussion on the bill, he conveyed that only the amendments made in GST by Parliament are […]
