Navigating Tax Disputes and Litigation in India Introduction Tax disputes and litigation are an inherent part of the tax landscape in India. With a complex tax system and frequent changes in tax laws, taxpayers often find themselves in disputes with tax authorities after itr tax filing. Navigating through tax disputes and litigation requires a thorough … Read more
The Institute of Cost Accountants of India (ICMAI) has requested the Union Government to include the cost accountants to appear as authorized representatives under the Income Tax Act, 1961. Representation reads as: “With the intention of the Government to re-draft the present Income–tax Act, by way of enacting new Direct Tax Law keeping in mind … Read more
Expenses incurred on Financial Charges allowable as Expenditure: ITAT[Read Order] (adsbygoogle = window.adsbygoogle || []).push({}); The Income Tax Appellate Tribunal (ITAT), Jaipur has held that the expenses incurred on financial charges can be deductible from Business Income as the same would amount to business expenditure. Deduction of expenses incurred for earning business income is spelt out in … Read more
Retired Gujarat HC Judge, PP Bhatt new Income Tax Appellate Tribunal President Gujarat High Court former judge, Justice PP Bhat has taken charge as the President of the Income Tax Appellate Tribunal (ITAT). Justice PP Bhat retired last month from Gujarat High Court. The ITAT oldest Tribunal in India set-up in 1941 and often known as the … Read more
HUF can’t be a Working Partner in Firm: ITAT upholds Rectification Order The Income Tax Appellate Tribunal (ITAT), Delhi has held that the Assessing Officer had rightly invoked Section 154 of the Income Tax Act to disallow deduction since HUF cannot be treated as a working partner in the partnership firm. In the instant case, … Read more
Notice Sent to Wrong Address which is Under-Constructing Plot of Assessee is Invalid: ITAT Delhi The Income Tax Appellate Tribunal (ITAT) Delhi Bench, in the case of Pradeep Jain v. Income Tax Officer has allowed the appeal of Assessee and held that notice issued at wrong address and the same was not received by Assessee … Read more
No TDS on License Fee paid for mere use of Copyrighted Article: ITAT The ITAT, Mumbai bench has held that the payment made for mere use of a copyrighted article would not constitute ‘royalty’ and the same is not subject to TDS under section 195 of the Income Tax Act and as per the Indo-US … Read more
