Income Tax

Penalty cannot be levied for making error in claiming deduction with complicated conditions 5 min read

• Income Tax

Penalty cannot be levied for making error in claiming deduction with complicated conditions

Baisakhi Ganguly 9 years ago

The ITAT, Delhi in the case of Oxford Softech Pvt. Ltd. (PAN: AAACO 4916 E) vs. ITO, Ward 13(1) A 6/3, Vasant Vihar ,New Delhi... Read More

Draft Assessment – Bombay High Court Judgment 2 min read

• Income Tax

Draft Assessment – Bombay High Court Judgment

Anuj Mathur 9 years ago

The draft assessment request on 30th March, 2015 was even with the choice for  the Supreme Court in GKN Driveshafts (India) Ltd v/s Income Tax Officer and Others reported... Read More

Application for Charitable Trust Registration Under Section 12 AA 2 min read

• Income Tax

Application for Charitable Trust Registration Under Section 12 AA

Manager 9 years ago

In Society for the Promotion of Education, Adventure Sport and Conservation of Environment versus Chief of Income Tax (2008) 216 CTR (All) 167, the Allahabad... Read More

Union Budget suggests treating Security Transaction Tax as advance income tax 2 min read

• Income Tax

Union Budget suggests treating Security Transaction Tax as advance income tax

Baisakhi Ganguly 9 years ago

It has been suggested in the Union Budget that Security Transaction Tax (STT) should be treated as advance income tax such as TDS and income... Read More

Application for Charitable Trust Registration Under Section 12 AA 2 min read

• Income Tax

Application for Charitable Trust Registration Under Section 12 AA

Anuj Mathur 9 years ago

In Society for the Promotion of Education, Adventure Sport and Conservation of Environment versus Chief of Income Tax (2008) 216 CTR (All) 167, the Allahabad... Read More

Willful Concealment – Penalty Proceedings are Void in case of Notice without Application of Mind 2 min read

• Income Tax

Willful Concealment – Penalty Proceedings are Void in case of Notice without Application of Mind

Anuj Mathur 9 years ago

The assesse Safina Hotels Private Ltd. claimed certain deductions as revenue expenditure disclosing the same under the head ‘financial expenses’ in the income tax return... Read More

Managerial services from a UK Company to an Indian Company cannot be treated as “fees for technical services” 4 min read

• Income Tax

Managerial services from a UK Company to an Indian Company cannot be treated as “fees for technical services”

Baisakhi Ganguly 9 years ago

It has recently been held in the case filed by Cummins Limited, 49-51, Gresham Road, Staines, Middlesex, TW18 2BD, United Kingdom being A.A.R. No1152 of... Read More

The onus to prove the genuineness of transactions is upon the assessee 2 min read

• Income Tax

The onus to prove the genuineness of transactions is upon the assessee

Manager 9 years ago

The ITAT, Chandigarh in the case of ITO, Ward-2, Panchkula vs. M/s C. Max Healthcare, 2016 (2) TMI 156 has held that in the absence... Read More

Audit Objections – Reopening of Assessment is Invalid if AO doesn’t agree 2 min read

• Income Tax

Audit Objections – Reopening of Assessment is Invalid if AO doesn’t agree

Anuj Mathur 9 years ago

Audit objections were raised on the revenue audit on the evaluation done by the judge. The audit objections were not accepted by the AO and... Read More

Addition cannot be allowed solely based on information received from the sales-tax department 4 min read

• Income Tax

Addition cannot be allowed solely based on information received from the sales-tax department

Baisakhi Ganguly 9 years ago

The Income Tax Appellate Tribunal, Mumbai in the cases of ITA No.4547/Mum/2014,ITA No.2545/Mum/2014 and ITA No.1275/Mum/2014 has held that addition cannot be allowed solely based... Read More