Judgement

Tribunal rules that requirement of bringing foreign exchange into India applies only; remands issues of exempt dividend and enhanced 10AA deduction for reconsideration.

ITAT Pune: Deduction under Section 10AA Cannot Be Denied for Late Realisation of Export Proceeds

Tribunal holds HUF cannot be donor under Section 56(2)(vii) but allows reconsideration under Section 10(2)

HUF not relative donor u/s 56(2)(vii) of Income Tax: ITAT

News

Get clarity on delayed FY 2024-25 income tax refunds, reasons behind the hold-up, and how to track them online.

Income Tax Refunds FY 2024-25: Here's Why They’re Delayed and How to Track Yours Online

The Supreme Court, agreeing with the order of the Karnataka High Court, said that the tax rate in the DTAA signed by these companies, which is 10% in some cases, would prevail over Section 206AA.

TDS on Payments to Foreign Entities Cannot Exceed 10% as per DTAA Provisions: Supreme Court

Articles

The Tribunal highlighted the proposition of law that an assessing officer cannot review his earlier opinion without any fresh, tangible material.

Reopening Assessment on Previously Examined Issue Without Fresh Material Is Invalid: ITAT

Tribunal upholds CIT(A) relief as AO failed to conduct any independent enquiry and relied solely on generic third-party statements

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ITAT Pune: Deduction under Section 10AA Cannot Be Denied for Late Realisation of Export Proceeds

HUF not relative donor u/s 56(2)(vii) of Income Tax: ITAT

Income Tax Refunds FY 2024-25: Here's Why They’re Delayed and How to Track Yours Online

TDS on Payments to Foreign Entities Cannot Exceed 10% as per DTAA Provisions: Supreme Court

Reopening Assessment on Previously Examined Issue Without Fresh Material Is Invalid: ITAT

Interest on Past Unsecured Loans Cannot Be Disallowed unless original loans are first proved bogus: ITAT