Taxation

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Taxation

Taxation of Interest Income

Taxation of Interest Income

Interest income can be defined as the amount earned by the taxpayers on different financial products, accounts and investments either by way of lending to...

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Taxation

Tonnage Taxation System: An Overview

Tonnage Taxation System: An Overview

The government of India has introduced the Tonnage tax system, and this scheme is optional for qualifying Indian Shipping Companies after meeting certain e...

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ITAT

ITAT Denies Exemption under Section 10 (38) For Bogus S...

ITAT Denies Exemption under Section 10 (38) For Bogus Share Transactions

The Pune Income Tax Appellate tribunal in the Case of Abhishek Ashok Lohade vs ITO 2022 has ruled that where the assessee is unable to prove to the court t...

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Taxation

Exemption u/s 10A of IT Act Unavailable in case ITR Fil...

10A of IT Act

The ITAT Chennai passed a judgement in the case titled Redisolve Software P. Ltd. Vs DCIT dated 30th November 2022, holding that ITR  is req...

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Taxation

Liability to Deduct TDS u/s 201 of IT Act is a Vicariou...

Liability to Deduct TDS u/s 201 of IT Act is a Vicarious Liability

The ITAT Mumbai passed a judgement dated 9th November 2022 in the case titled ICICI Securities Limited versus Income Tax Officer, International Taxati...

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ITAT

SC’s Recent Judgment on Revaluation of Capital Assets...

SC’s Recent Judgment on Revaluation of Capital Assets

The Supreme Court's decision, with Justices M.R. Shah and M.M. Sundresh sitting on the divisional bench, ruled that Section 45(4) of the Income Tax Act app...

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ITAT

Legal Expenses Allowed As Business Expenditure under Se...

Legal Expenses Allowed As Business Expenditure under Section 37 of IT Act

The Chennai Income Tax appellate tribunal in the case of Kalaignar TV (P.) Ltd. v. Assistant Commissioner of Income-tax 2022 has remanded the matter back t...

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Taxation

Deletion of Additions Allowed If Transactions are Genui...

Deletion of Addition Allowed If Genuineness of Transaction Is Proved: ITAT Delhi

The Income Tax Appellate Tribunal of Delhi pronounced a judgement on 25th October 2022 in the case titled DCIT Vs. Intuitent Online Venture...

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