Judgement

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

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

ITAT Grants Relief to Assessee by Restoring Key Issues Due to Lack of Proper Examination by Authorities

ITAT Remands Interest, Tax Rate & Section 80E Issues Back to AO for Fresh Verification

News

Whirlpool of India Limited has received a draft assessment order, proposing disallowances of Rs 28.39 Crore, with an estimated tax impact of about Rs 7.14 crore.

Whirlpool Of India Limited Faces Income Tax Scrutiny After Receiving Draft Assessment Order

GTPL Hathway Limited has received a GST demand order alleging wrong ITC and short GST payment. The company plans to challenge the order before appropriate appellate authorities.

GTPL Hathway Faces Rs 11.13 Crore Demand Over Alleged ITC and Short GST Payment

Articles

The IT Dept clarified that the new 12% surcharge applies only to the additional income tax payable by promoters on capital gains from share buybacks.

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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

ITAT Remands Interest, Tax Rate & Section 80E Issues Back to AO for Fresh Verification

Whirlpool Of India Limited Faces Income Tax Scrutiny After Receiving Draft Assessment Order

GTPL Hathway Faces Rs 11.13 Crore Demand Over Alleged ITC and Short GST Payment

Income Tax Department Clarifies 12% Surcharge on Promoters Buyback Gains