Direct Tax
ITAT Quashes Income Tax Reassessment Against Hyundai For Being Time Barred
The Income Tax Appellate Tribunal, Chennai, quashed the income tax reassessment against Hyundai for being time barred.
The bench noted that the notice u/s 148...
New TDS Section 194T: 10% TDS Applicable On TDS On Salary, Remuneration, Interest, Bonus Or Commission Of Partners
As of right now, the partnership business is not allowed to deduct tax at source (TDS) from the salary, compensation, interest, bonus, or commission...
Reassessment Notice Issued By JAO Is Invalid: Bombay High Court
The Bombay High Court ruled that reassessment notice issued by JAO is invalid.
The bench said that it is now well settled that for a...
Fresh Registration Of Charitable Trusts Could Be Granted Only From Year Of Preferring Application: ITATÂ Â Â Â Â
The Income Tax Appellate Tribunal, Delhi, ruled that fresh registration of charitable trusts could be granted only from the year of preferring application.
The tribunal...
ITAT Deletes Income Tax Addition Sold Based On Statements Recorded Without Corroborative Evidence Of Unaccounted Sales
The Income Tax Appellate Tribunal, Delhi, deleted the income tax addition sold based on the statements recorded without corroborative evidence of unaccounted sales.
The bench...
CBDT Specifying Circumstances For Enquiries/Verification Functions
The Central Board of Direct Taxes has issued order under proviso to Section 144B(5) of the Income Tax Act specifying the circumstances for purposes...
Loan Repayment Supports The Genuineness Of Transactions; ITAT Deletes Income Tax Addition
Author: Khushi J Prajapati
The Income Tax Appellate Tribunal (ITAT) Ahmedabad upheld the decision of the Commissioner of Income Tax (Appeals) which deleted the additions...
Income Tax Deduction Allowable On Interest Income Earned From Deposits With Co-operative Banks: ITAT
The Income Tax Appellate Tribunal Ahmedabad ruled that the Income Tax deduction is allowable on interest income earned from deposits with Co-operative banks.
The bench...