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The test of genuineness of a transaction is to prove beyond doubt the nature and source for such credits

Baljeet jaiswal October 28 2021 @ 4:36 PM

The test of genuineness of a transaction is to prove beyond doubt the nature and source for such credits The Learned Income Tax Appellate Tr...

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Test for deductible expenditure of business is that it must have been made for the purpose of business: ITAT

Baljeet jaiswal October 27 2021 @ 11:08 PM

Test for deductible expenditure of business is that it must have been made for the purpose of business: ITAT The Learned Income Tax Appellat...

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No TDS under section 194N if Cash Withdrawal is not Income

Monika October 27 2021 @ 6:37 PM

No TDS under section 194N if Cash Withdrawal is not Income The petitioners were registered under the Tamil Nadu Co-operative Societies Act, ...

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Supervisory fees paid to parent company in terms of the agreement allowed by ITAT

Studycafe October 24 2021 @ 1:48 PM

Supervisory fees paid to parent company in terms of the agreement allowed by ITAT Recently ITAT in matter of ACIT vs M/s. Dong Woo Surface T...

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Sec 68 additions deleted once taxpayer has proved identity & creditworthiness of parties & genuineness of transaction

Studycafe October 24 2021 @ 1:12 PM

Sec 68 additions deleted once taxpayer has proved identity & creditworthiness of parties & genuineness of transaction Recently ITAT ...

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ITAT: Ownership of several flats under JDA is eligible for Capital Gain Exemption

CA Bimal Jain October 19 2021 @ 1:10 PM

ITAT: Ownership of several flats under JDA is eligible for Capital Gain Exemption In Sri Ganga Poorna Prasad v. The Assistant Commissioner o...

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Substantial costs should be recovered from AOs salary if Income Tax assessment order not made as per procedure

Team Studycafe October 18 2021 @ 5:13 PM

Substantial costs should be recovered from AOs salary if Income Tax assessment order not made as per procedure IN THE HIGH COURT OF JUDICATU...

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Irrecoverable loss incurred due to bad weather and technical snags would be considered as Revenue Loss

CA Bimal Jain October 15 2021 @ 7:30 PM

Irrecoverable loss incurred due to bad weather and technical snags would be considered as Revenue Loss The Hon’ble Income Tax Appellate Tr...

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ITAT: Telecom Distributor is exempt from TDS on Commission given directly to Retailers by Service Provider

CA Bimal Jain October 13 2021 @ 6:05 PM

ITAT: Telecom Distributor is exempt from TDS on Commission given directly to Retailers by Service Provider In Laxmi D. Gupta v. ITO, Mumbai ...

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ITAT: Addition made solely on the basis of one dummy director not sustainable

CA Bimal Jain October 13 2021 @ 4:21 PM

ITAT: Addition made solely on the basis of one dummy director not sustainable In M/S. Frost Falcon Distilleries v. DCIT, Haryana [ITA No.771...

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