Income Tax Archives

Explained| Scope of Section 80-IA(5) of the Income Tax Act, 1961 with respect to determination of quantum of deduction under Section 80-IA(1)

Supreme Court: Interpreting the true scope of Section 80-IA(5) of the Income Tax Act, 1961, the bench of L. Nageswara Rao* and

Case Briefs Tribunals/Commissions/Regulatory Bodies

ITAT| Whether amount deducted from the sale proceeds constitute trading receipts in the hands of the Assessee?

by Akshat Malpani†

Case Briefs Supreme Court

Amounts paid by Indian companies to non-resident manufacturers/suppliers for resale/use of the computer software not royalty, hence, not taxable in India: Supreme Court [Read detailed report]

DTAA provisions must be treated as law and followed by Indian courts, notwithstanding what may be contained in the Income Tax Act to the contrary, unless more beneficial to the assessee.

Experts Corner Tarun Jain (Tax Practitioner)

Revisiting General Anti-Avoidance Rules in Income Tax Law

by Tarun Jain†

Cite as: 2021 SCC OnLine Blog Exp 9

Case Briefs Tribunals/Commissions/Regulatory Bodies

ITAT | Can enhancement be made when the same was not there in the reasons recorded for reopening the assessment? Tribunal answers

Income-tax Appellate Tribunal, New Delhi: Dealing with the issue of enhancement by CIT(A) which was never therein the reasons recorded for reopening

Hot Off The Press News

CBDT launches e-portal for filing complaints regarding tax evasion/Benami Properties/Foreign Undisclosed Assets

Taking another step towards e-governance and encouraging participation of citizen as stakeholders in curbing tax evasion, the Central Board of Direct Taxes

Case Briefs Tribunals/Commissions/Regulatory Bodies

Tata Trusts Case | When can a Corpus be treated as a Capital or Investment? ITAT Mumbai

Income Tax Appellate Tribunal, Mumbai (ITAT): Dealing with the issue on nature, scope, and explanation Section 263 (2)(a) to the effect that

Hot Off The Press News Taxation

Extension of time limits for income tax returns

In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the

Case Briefs Tribunals/Commissions/Regulatory Bodies

ITAT | “Legal fees paid to a partnership firm of lawyers can indeed be subjected to levy of tax under Art. 12 of Indo-Japanese Tax Treaty”; Foreign Tax Credit allowed under the treaty

Income Tax Appellate Tribunal (ITAT), Mumbai: The Bench of Pramod Kumar (Vice President) and Pavan Kumar Gadale (Judicial Member) allows Foreign Tax Credit

Case Briefs Tribunals/Commissions/Regulatory Bodies

CIC decides whether disclosure of income tax returns and gross income of husband to his wife is permissible under RTI Act or not || Read the decision

Central Information Commission (CIC): Neeraj Kumar Gupta (Information Commissioner) decided whether disclosure of income tax returns of the husband to wife under RTI

Case Briefs High Courts

Ker HC | If a particular income is not taxable under Income Tax Act, it cannot be taxed on basis of estoppel or any other equitable doctrine; Court reiterates principles for recovery under Income Tax Act

Kerala High Court: Vinod Chandran J., while answering the law points in favour of the Revenue department, restrained from any recovery of

Case Briefs High Courts

Del HC | Whether information in respect of an investigation carried out by office of DG of Income Tax (Investigation) is required to be intimated to complainant? Read HC’s view

Delhi High Court: Suresh Kumar Kait, J., while addressing the present matter, observed that, Providing information regarding an ongoing investigation to its informer

Op Eds OP. ED.

Income Tax Return — A Child’s Play?

by Shubhangi Agarwal*

Hot Off The Press News

Search & Seizure action carried out by Income tax Department in a case of a leading Advocate

The Income Tax Department has carried out a search and seizure action on 14-10-2020 in the case of a leading advocate practicing

Case Briefs Tribunals/Commissions/Regulatory Bodies

ITAT| Can exempted income which is not part of the total income alone be considered for disallowance u/s 14A of Income Tax Act?

by Akshat Malpani†

Case Briefs High Courts

Pat HC | Court upholds the constitutional validity of S. 234E of Income Tax Act; petition challenging the same disposed

Patna High Court: In a petition alleging Section 234E of the Income Tax Act, 1961 to be unconstitutional, ultra vires and in

Legislation Updates Notifications

CBDT | Charges collected on prescribed electronic modes asked to be refunded, if collected after 1st January, 2020

Central Board of Direct taxes notifies a clarification that the imposition of a charge on the prescribed electronic modes under Section 269

Case Briefs Tribunals/Commissions/Regulatory Bodies

ITAT| Treating entire bogus purchases as the income of the Assessee when not appropriate? ITAT explains

Income Tax Appellate Tribunal, Hyderabad: Dealing with the issue on accommodation entries and bogus purchases, the Tribunal has said that the entire

Case Briefs Supreme Court

Disallowance under Section 40(a)(ia) of IT Act whether confined to the amount “payable” and not to the amount “already paid”?SC explains

Supreme Court: Dealing with the question as to whether disallowance under Section 40(a)(ia) of the Income Tax Act, 1961 is confined/limited to

Case Briefs Tribunals/Commissions/Regulatory Bodies

ITAT| Disallowance under Section 40(a)(ia) IT Act not to remain in force if the IT Return reflects the transaction

Income Tax Appellate Tribunal (ITAT), Mumbai: Explaining the law on disallowance u/s.40(a)(ia), the Tribunal has said that if the payees have included