Direct Tax
Co-Accused May Apply Separately For Compounding Of Offences U/s 276B and 278B Of Income Tax Act, 1961: Delhi High Court
The Delhi High Court has held that co-accused may apply separately for compounding of offences under section 276B and 278B Of Income Tax Act,...
Bank Of India Entitled To Income Tax Deduction to BPI On Purchase Of HTM Securities: Bombay High Court Disapproves AO’s Non-Compliance To High Court’s...
The Bombay High Court has disapproved the AO’s non-compliance to high court’s decisions and held that assessee are entitled for deduction to the broken...
Not Accepting Revised Computation Of Income Citing Delay In Filing Form 9A Leads To Undue Financial Burden To Taxpayer: Bombay High Court
The Bombay High Court has held that non-acceptance of revised computation of income by the department in light of delayed filing of Form 9A...
Enhanced Tax Rate Of 60% U/S 115BBE Not Applicable To Cash Deposits During Demonetisation: ITAT
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the enhanced tax rate of 60% under section 115BBE of the Income...
MCX Investment Protection Fund Eligible For Income Tax Exemption : ITAT
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that Multi Commodity Exchange (MCX) Investment Protection Fund is eligible for income tax...
Donations Of Rs. 228 Crores To Shirdi Saibaba Sansthan Is Exempted From Income Tax : Bombay High Court Quashes Reassessment
The Bombay High Court has held that the donations of Rs. 228 crores to Shirdi Saibaba Sansthan is exempted from income tax.The bench of...
ITAT Dismisses Department’s Appeal Against NFAC’s Order Citing Low Tax Effect
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has dismissed the income tax department’s appeal citing low tax effect.The bench of Madhumita Roy...
Unethical Distribution Of Freebie By Pharma Company Abbvie Healthcare : Apex Committee For Pharma Marketing Practices Loops CBDT
The Apex Committee For Pharma Marketing Practices has looped Central Board of Direct Taxes (CBDT) in the case where a Pharma Company, Abbvie Healthcare...