9+ hour, 8+ min ago  (344+ words) The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the consideration received for human resources services is not royalty under Article 12(3) of India-Thailand Double Taxation Avoidance Agreement (DTAA). The appeal by the assessee, Alstom Transport Systems…...

5+ hour, 56+ min ago  (393+ words) In a recent ruling, the Gauhati High Court held that fake GST Input Tax Credit allegedly availed and used through shell entities can prima facie constitute "proceeds of crime" under the Prevention of Money Laundering Act, 2002. The court upheld the…...

5+ hour, 15+ min ago  (348+ words) In a big relief for Pricewaterhouse Coopers (Pw C), the Calcutta High Court has quashed a massive Rs 87. 20 Crore Income Tax assessment order, saying the tax department committed a "gross violation" of natural justice by issuing a show cause notice and…...

4+ hour, 41+ min ago  (372+ words) The appeal follows the Supreme Court's ruling upholding 28% GST on the full face value of online gaming bets, leaving the industry facing liabilities of nearly "2 lakh crore. Founders of real money gaming (RMG) companies have urged the Goods and Services…...

9+ hour, 49+ min ago  (188+ words) The Income Tax Appellate Tribunal (ITAT), Agra Bench, held that "legal heir" is not the same as "legal representative" of a deceased person and set aside the relevant assessment order. The assessee was represented by Chartered Accountant Deependra Mohan while…...

5+ hour, 52+ min ago  (368+ words) Aminul Hoque had challenged the opinion dated 28 February 2019 passed by the Member, Foreigners Tribunal No. 4, Kamrup (M), Guwahati, in FT Case. The Tribunal had held that he failed to prove that he was an Indian citizen. Before the Tribunal, the petitioner…...

9+ hour, 33+ min ago  (289+ words) The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of Rs. 10 lakhs made under the Income Tax Act, 1961, holding that it was based on a typographical error by the Dispute Resolution Panel (DRP). A notice under…...

9+ hour, 34+ min ago  (756+ words) Despite all the speculations being made about the controversy over social media channels, the fact is that it does not have any effect on the existing Indian income-tax laws and regulations defining tax residency. Nevertheless, for NRIs, expats, multinational workers,…...

10+ hour, 36+ min ago  (409+ words) The Raipur bench of the Income Tax Appellate Tribunal (ITAT) ruled that the Assistant Commissioner of Income Tax (ACIT) lacks jurisdiction to issue notice under Section 148 of the Income Tax Act, 1961 in violation of Central Board of Direct Taxes (CBDT)…...

1+ day, 8+ hour ago  (329+ words) The Income Tax Appellate Tribunal (ITAT), Delhi Bench, partly allowed the assessee's appeals under the Income Tax Act, 1961 and held that income from unaccounted sales was to be determined by applying a net profit rate instead of bringing the entire…...