Judgement

ITAT deleted the Rs 12.62 lakh Section 68 addition and directed the AO to allow the LTCG exemption after finding no transaction-specific evidence of price manipulation or accommodation entry.

ITAT Allows Section 10(38) LTCG Exemption and Deletes Rs 12.62 Lakh Penny Stock Addition After Finding No Evidence of Accommodation Entry

ITAT Ahmedabad deletes Rs 9.66 lakh disallowance, ruling that Section 195 TDS does not apply to foreign agents’ commission for services rendered outside India.

ITAT Deletes Rs 9.66 Lakh Disallowance on Foreign Commission, Holds TDS Under Section 195 Not Applicable Where Services Rendered Outside India

ITAT directed the Income Tax Department to grant Rs 14.32 lakh Foreign Tax Credit for taxes paid in Kenya, holding that delayed Form 67 filing cannot deny genuine tax relief.

ITAT Allows Rs 14.32 Lakh Foreign Tax Credit, Holds Delay in Filing Form 67 Cannot Deny Genuine Relief for Taxes Paid in Kenya

ITAT remands Rs 2.35 crore Section 40(a)(i) disallowance to CIT(A), directing fresh consideration alongside the pending TDS appeal.

ITAT Remands Section 40(a)(i) Disallowance Dispute to CIT(A) Over Rs 2.35 Crore Payment to Singapore Firm

News

The Central Bureau of Investigation (CBI) has arrested Debabrata Dutta, an absconding accused in the Rs 17.22 Crore chit-fund scam case. 

CBI Arrests Absconding Accused in Rs 17.22 Crore Chit-Fund Scam Case

Articles

ICAI has issued an Exposure Draft Guidance Note on Section 92E, covering transfer pricing reporting, responsibilities, ALP methods, documentation, penalties and related provisions.

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ITAT Allows Section 10(38) LTCG Exemption and Deletes Rs 12.62 Lakh Penny Stock Addition After Finding No Evidence of Accommodation Entry

ITAT Deletes Rs 9.66 Lakh Disallowance on Foreign Commission, Holds TDS Under Section 195 Not Applicable Where Services Rendered Outside India

ITAT Allows Rs 14.32 Lakh Foreign Tax Credit, Holds Delay in Filing Form 67 Cannot Deny Genuine Relief for Taxes Paid in Kenya

ITAT Remands Section 40(a)(i) Disallowance Dispute to CIT(A) Over Rs 2.35 Crore Payment to Singapore Firm

CBI Arrests Absconding Accused in Rs 17.22 Crore Chit-Fund Scam Case

ICAI Issues Exposure Draft Guidance Note on Report Under Section 92E of Income-tax Act 1961