Judgement

The tribunal said that the mere omission of reporting the investment in Schedule FA represents a lapse in the reporting format of the ITR, instead of a complete disclosure failure.

No Penalty for Omission to Disclose Foreign Assets in Schedule FA if the Same is Disclosed in Other Part of ITR: ITAT

News

Fractal Analytics has received a draft assessment order, proposing a demand amounting to Rs 156.56 Crore on the grounds of certain transfer pricing and corporate tax adjustments.

Fractal Analytics Faces Rs 156.56 Crore Draft Demand Over Transfer Pricing and Corporate Tax Adjustments

Orders

TVS Srichakra Ltd has received a Rs 29.47 crore income tax demand for FY 2017-18 and plans to file an appeal with the CIT(A).

TVS Srichakra Ltd Receives Rs 29.47 Crore Income Tax Demand, Plans to File Appeal

Tribunal Holds Date of Tender of Cheque as Date of Payment for TDS Compliance

ITAT: No Interest if TDS Paid by Cheque Before Due Date, Even if Realised Later

The ITAT ruled that no penalty can be imposed for under-reported income when the taxpayer made a bona fide claim with full disclosure under a debatable legal position.

ITAT Deletes Penalty in Education Cess Dispute; Says Retrospective Amendment Not Grounds for Penalty

Tribunal reversed the orders of the lower authorities; directs deletion of the disallowance of Rs. 721 crore

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No Penalty for Omission to Disclose Foreign Assets in Schedule FA if the Same is Disclosed in Other Part of ITR: ITAT

Fractal Analytics Faces Rs 156.56 Crore Draft Demand Over Transfer Pricing and Corporate Tax Adjustments

TVS Srichakra Ltd Receives Rs 29.47 Crore Income Tax Demand, Plans to File Appeal

ITAT: No Interest if TDS Paid by Cheque Before Due Date, Even if Realised Later

ITAT Deletes Penalty in Education Cess Dispute; Says Retrospective Amendment Not Grounds for Penalty

ITAT Allows ESOP Deduction to Intel India; Treats Cross-Charge as Revenue Expense