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The New Delhi ITAT after determining that the taxpayer does not file either of the conditions specified in section 54 of the income tax, ruled that no infirmity in the IT authority’s order in refusing the advantage of the deduction of the long-term capital gains to the taxpayer under section 54. The Division Bench of […]
The Income Tax Appellate Tribunal (ITAT) Delhi issued a significant ruling in the matter of Mandeep Singh Anand Vs ACIT for the authority of the Commissioner of Income Tax (Appeals) (CIT(A)) to add a new source of income without providing an enhancement notice. This blog furnishes a summary of the case and the decision of […]
In response to an appeal made in the case of Sanjay Kukreja versus ACIT against the rejection of the claim for deduction u/s 80IA by the Income Tax department, the New Delhi ITAT, on Tuesday, reversed the decision, directing the assessing officer to allow claimed deduction on the grounds that filing of audit report with […]
The auditor failed to file the audit report including the return of income the Ahmedabad bench Income Tax Appellate Tribunal ( ITAT ) ruled while asking to permit an exemption under section 11 of the Income Tax Act, 1961. In this matter, the taxpayer, Karma Falya Trust filed an income tax return for Assessment Year […]
The decision of the Commissioner of Income Tax (Appeals) (CIT (A)) is upheld by the Mumbai ITAT to annul an addition made, quoting a discrepancy between Form 26AS and the Profit & Loss Account, attributable to the declaration of service tax amounts. On 27/11/2012 when the assessee filed its income tax return the case appeared, […]
Overview For the matter of Bawa Float Glass Ltd Vs DCIT, the Income Tax Appellate Tribunal (ITAT) Delhi addressed the legal approval granted issue under section 153D of the Income Tax Act lacking a Document Identification Number (DIN). The taxpayer challenged the absence of DIN directing to the important decision via the tribunal. In-depth Examination […]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) ruled that marketing services directed via the US entity in India do not levy tax in India a Fee for Technical Service (FTS). The addition made by the Assessing officer is been deleted by the bench. The assessee AD2PRO Media Solutions Pvt. Ltd. provides marketing […]
The notion of earning 90% profit is unbelievable and is contractual loot under the impression of alleged development activities, The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) ruled. The bench of R.K. Panda (Vice President) and Laliet Kumar (Judicial Member) sees that the funds of government towards the development must be used for the […]
The Income Tax Appellate Tribunal (ITAT) in Delhi recently noted the requirement of Tax Deducted at Source (TDS) following Section 194J of the Income Tax Act, 1961. The ITAT bench noted that if the payment for consultancy services, excluding the service tax, does not surpass Rs. 30,000, there is no obligation to deduct TDS. The […]
