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The Income Tax Appellate Tribunal (ITAT) Bangalore, ruled that the profit on selling the land comes beneath the capital gain and thus liable for all the deductions permitted while calculating the income beneath the capital gain. The taxpayer is the owner of Shri Babulal is the proprietor of M/s. Bangalore sales and marketing is said […]
The Income Tax Appellate Tribunal (ITAT), Pune Bench has permitted the deduction beneath Section 35(1)(ii) of the Income Tax Act with respect to the donation. The taxpayer owner of MRC transolutions Pvt ltd furnished a donation of Rs 1.25 cr to the organization known as the school of human Human Genetics and Population Health (hereinafter […]
In the particular act providing benefits to the Life Insurance Corporation of India (LIC), the Income Tax Appellate Tribunal (ITAT), Bangalore bench the organization does not need to cut the tax with respect to the cash payment of cash medical advantage to its employees similar is in the fact of mere compensation outside the confines […]
According to clause (a) of sub-section (2) of section 80CCA, TDS (Tax Deducted at Source) is the income tax collected by a person when paying another person for his/her service. TDS is deducted at the time of payment and at the rate of ten per cent. The rule also says that no TDS shall be […]
Concerning the case of the Central Goods and Service Tax Act (CGST Act), the central government has been questioned by the Gujarat High court to initiate the step to stop the threats on bank accounts of persons post to the GST council raids on the tax theft. With respect to the GST council Get to […]
A survey is initiated at the offices of Zee Entertainment Enterprises Ltd and Larsen & Toubro (L&T) Ltd. which comes under the tax examination with respect to the 2 organizations by the Directorate General of GST Intelligence (DGGI). A fake input tax credit is found to be filed by the two firms named zee and […]
The Telangana High Court said to the Income Tax Authority to return the cash of Rs. 5 crores along with 12% interest and deliver the employee to the applicant. The applicant is the owner of the business in which he engages in buying the agricultural lands along with the agricultural products throughout the country and […]
The Delhi High Court ordered the Income Tax Authority to pass the benefit of revised TDS rates for the FY 2019-20 and a discount of 25%. The order comes in the case where Manpower Services is the petitioner and has challenged the order passed by the respondent authority following section 197 of the Income Tax […]
As per a recent order held by the Income Tax Appellate Tribunal (ITAT), Delhi Branch, CIT (A) is not allowed to reject applications (appeal) on a technical basis without providing an opportunity to the assessee for making the required correction. In this case, AO passed an ex-parte assessment order as per section 147 or 144 […]
