Judgement

The ITAT Delhi quashed penalties imposed under sections 271(1)(c) and 270A against Ajay Vision Education Pvt Ltd, holding that the notices did not specify the correct limb of the penalty charge.

ITAT Deletes Penalties u/s 271(1)(c) & 270A for Defective Penalty Notices

he Tribunal agreed with the NFAC order, saying that mere reclassification of the loss does not result in under-reporting of income under Section 270A.

Mere Re-Classification of Loss Nature Can't be Considered as Under-Reporting of Income: ITAT

The Income Tax Appellate Tribunal (ITAT) reviewed the case and found that the reimbursement from NHAI was not income but an expense reimbursement.

ITAT Allows TDS Credit on Reimbursement Received From NHAI

ITAT condones delay and allows exemption under Section 11, correcting CPC’s error in taxing gross receipts.

ITAT Condones Delay and Grants Exemption Under Section 11, Overturning CPC’s Denial

ITAT Bangalore held that Fees for Technical Services cannot be taxed in India when the India-UAE DTAA does not contain an FTS clause and the assessee has no Permanent Establishment.

FTS Can't Be Taxed in India Without a Specific DTAA Clause Unless Company Possesses a PE in India

The Delhi High Court upheld the CIT(A) and ITAT’s view that the alleged Rs. 10 bogus lakh loan was genuine and dismissed the Revenue’s appeal.

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ITAT Deletes Penalties u/s 271(1)(c) & 270A for Defective Penalty Notices

Mere Re-Classification of Loss Nature Can't be Considered as Under-Reporting of Income: ITAT

ITAT Allows TDS Credit on Reimbursement Received From NHAI

ITAT Condones Delay and Grants Exemption Under Section 11, Overturning CPC’s Denial

FTS Can't Be Taxed in India Without a Specific DTAA Clause Unless Company Possesses a PE in India

Assessee not required to prove "source of source" of funds credited as unsecured loans: Delhi HC