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The Central Government has granted income tax exemption to U.P. Awas Evam Vikas Parishad under Section 10(46A) of the Income-tax Act, effective from Assessment Year 2024-25.

Big Relief for UP Awas Evam Vikas Parishad! CBDT exempts Income from Tax u/s 10(46A)

Judgement

The AAR Tamil Nadu ruled that ITC can be claimed only on steel used for supporting HVAC and crane structures and clarified the timeline for availing ITC on advance invoices.

GST Alert: Miss ITC Claim by Nov 30 & Lose It Forever, AAR

The Tamil Nadu AAAR upheld the AAR ruling, dismissing Becton Dickinson India’s appeal on ITC eligibility for import IGST via TR-6 challan.

AAAR Upholds AAR Ruling: ITC on Import IGST via TR-6 Challan Not Allowed, Appeal Dismissed

The ITAT held that the reason was levying a penalty, saying that the assessee failed to benchmark the international as well as specified domestic transactions, is not permissible under the provisions of section 271G of the Act.

Section 271G Penalty is Levied for Non-Submission of Information and Not for Failure to Benchmark: ITAT Ahmedabad

The Income Tax Appellate Tribunal (ITAT), Ahmedabad, grants full relief to the assessee, deleting Rs. 11.70 lakh added as unexplained loan under Section 68.

Relief Granted: ITAT Deletes Entire Rs. 11.70 Lakh Addition in Loan Dispute Under Section 68

News

Income Tax Department Alerts Taxpayers to Phishing Scams, Fraudulent Refund Emails, and Fake Websites; Advises Caution and Reporting Steps.

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Big Relief for UP Awas Evam Vikas Parishad! CBDT exempts Income from Tax u/s 10(46A)

GST Alert: Miss ITC Claim by Nov 30 & Lose It Forever, AAR

AAAR Upholds AAR Ruling: ITC on Import IGST via TR-6 Challan Not Allowed, Appeal Dismissed

Section 271G Penalty is Levied for Non-Submission of Information and Not for Failure to Benchmark: ITAT Ahmedabad

Relief Granted: ITAT Deletes Entire Rs. 11.70 Lakh Addition in Loan Dispute Under Section 68

IT Dept Warns Taxpayers About Phishing, Fake Refund Emails, and Fraudulent Websites