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Kolkata ITAT eliminates additions made without scrutinizing the expenditure nature of fetching that the expenses were made for the business purposes at the time of operation of a business, towards which the taxpayer has provided all the basic information which was not reviewed via AO, the addition made by AO is been deleted by the […]
Once Tax Deducted at Source (TDS) is deducted then liability for non-deposit of TDS by deductor cannot be fastened on the deductee the Kolkata bench of the Income Tax Appellate Tribunal (ITAT) ruled. The taxpayer is a salaried employee employed with M/s. Falcon Tyres Ltd. at its Kolkata office and in the year received a […]
The Madras High Court ruled that under the new income tax regime, approval from a higher authority, like the Principal Chief Commissioner of Income Tax or the Principal Director General, is obligatory to issue a notice u/s 148 of the Income Tax Act after the lapse of a three-year limitation period. Justice C. Saravanan mentioned […]
No service tax is to be imposed on hostel fees received for non-residential courses conducted by the coaching institute, the Kolkata Bench of the CESTAT has held. The Bench of Ashok Jindal (Judicial Member) and K. Anpazhakan (Technical Member) has cited that “the stand-alone hostel charges collected for non-residential courses, have no connection with Commercial […]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has removed the INR 26.35 lakh addition made to cash deposits during the demonetization period, marking that the Revenue Department had accepted the sales and purchases without rejecting the books of accounts. The taxpayer/applicant, Shivinder Pal Singh, appealed against the order on 26.10.2023 for the Assessment […]
The Income Tax Appellate Tribunal (ITAT) in Chennai has sent a case back to the Assessing Officer (AO) for reassessment. The decision was made because a public charitable trust operating educational institutions filed its audit report under Form 10BB late. Under sections 12AA and 10(23C)(vi) of the Income Tax Act, 1961, the trust, registered, had […]
The Income Tax Appellate Tribunal ( ITAT ) Rajkot Bench sent a case back to the Assessing Officer (AO) for fresh adjudication, expressing that the authorities losses to perform inquiry for unsecured loans amounting to Rs.1.82 crore and Rs.1 crore. The tribunal marked that the additions under section 68 of the Income Tax Act, 1961, […]
The Calcutta High Court supported a decision made by the Income Tax Appellate Tribunal (ITAT) that eliminated an additional charge of over ₹4 crore on a taxpayer’s income during a review of their taxes. It was ruled by the division bench of Chief Justice TS Sivagnanam and Justice Bivas Pattanayak that the assessing officer had […]
ITAT Delhi In the matter of Cheil India Private Limited vs. DCIT, addressed the disallowance of a ₹2.57 crore deduction asserted u/s 80G of the Income Tax Act, 1961, for CSR expenditures. The deduction has been refused by the National Faceless Assessment Centre (NFAC) reasoning that CSR expenses as obligated u/s 135 of the Companies […]
