News

Even after this hefty demand, Electrotherm, based on its assessment and legal advice, expressed its confidence that the order does not affect the financial operations of the company.

Electrotherm Faces Huge Income Tax Demand of Rs 72.69 Crore; Plans to Challenge Order

Judgement

Tribunal holds ESOP and IT support payments to overseas group company are allowable business expenses; directs assessee to challenge sales return disallowance separately

ITAT Allows ESOP Expenses And Promotional Testers Allowed As Business Deduction

ITAT Allows ESOP Expenses and Promotional Testers Allowed As Business Deduction

The Income Tax Department has raised a demand of Rs 537.75 crore, including tax of Rs 441.24 crore and interest of Rs 96.51 crore.

SBI Life Insurance Receives Income Tax Assessment Order Raising Rs 537.75 Crore Demand

Tribunal directs AO/TPO to treat goodwill amortization as extraordinary expense while computing PLI under TNMM for determining arm’s length price.

ITAT Holds Goodwill Amortization from Slump Sale as Non-Operating for TP Margin

Articles

As per Carraro India, the draft assessment order does not have any immediate impact on its financial, operations or other activities.

Carraro India Gets Major Tax Relief as Draft Assessment Order Cuts Corporate Tax Adjustment to Rs 52.6 Lakh

To encourage the taxpayers for voluntary compliance, the department has started the Saksham Nudge campaign. Under this campaign, the taxpayers are advised to voluntarily correct their mistakes.

Explore Our Blogs

Stay updated with the latest insights, tips, and industry trends from our experts

Electrotherm Faces Huge Income Tax Demand of Rs 72.69 Crore; Plans to Challenge Order

ITAT Allows ESOP Expenses and Promotional Testers Allowed As Business Deduction

SBI Life Insurance Receives Income Tax Assessment Order Raising Rs 537.75 Crore Demand

ITAT Holds Goodwill Amortization from Slump Sale as Non-Operating for TP Margin

Carraro India Gets Major Tax Relief as Draft Assessment Order Cuts Corporate Tax Adjustment to Rs 52.6 Lakh

Income Tax survey on Restaurants reveals suppression of sales of around Rs. 408 crore