Income Tax Appellate Tribunal

Shah Rukh Khan wins tax case as ITAT dismisses dispute over RA.One earnings

The Income Tax Appellate Tribunal bench held that reassessment of Bollywood actor Shah Rukh Khan's case by the income-tax department was not legally justified

Maruti Suzuki India gets tax demand of Rs 779.2 cr from I-T authorities

Automaker Maruti Suzuki India Ltd on Friday said it has received a demand of Rs 779.2 crore, including interest from the Income Tax authority. The company has received a final assessment order for the financial year 2019-20 from the Income Tax authority, Maruti Suzuki India Ltd (MSIL) said in a regulatory filing. The order has a total demand, including interest, of Rs 779.2 crore, it said, adding that it has also received a showcause notice for initiation of penalty proceedings with respect to the order. MSIL said it will file an appeal before the Income Tax Appellate Tribunal. There is no impact on financial, operation or other activities of the company due to this order.

Tax tribunals in Delhi and Mumbai allow deductions for CSR donation

Tax authorities had earlier argued that since CSR expenditures were mandated by law, they were not voluntary and therefore, did not qualify as donations for tax deductions

Section 54F: Avoid capital gains tax on jewellery sale with house buy

In India, no tax has to be paid on inheriting gold, but its sale triggers capital gains tax

Google Ireland gets tax relief on Rs 8.6K crore it got from India arm

The ruling by the Bangalore-based Income Tax Appellate Tribunal (ITAT) may have repercussions on similar transactions by multinationals, feel experts

Income tax tribunal dismisses Congress appeal against Rs 210 cr penalty

The Income Tax Appellate Tribunal on Friday dismissed the Congress party's appeal against imposition of penalty for discrepancies in tax returns for previous years and said it was exploring all legal options and will move the high court against it very soon. Sources said the tribunal had dismissed the appeal of the Congress for imposition of penalties of Rs 210 crore by the Income Tax department here on Friday. Congress treasurer Ajay Maken said the party is exploring all legal options and would move the high court "very soon". "The BJP government has deliberately chosen the timing of this to coincide with national elections," Maken told PTI. He said the I-T tribunal order freezing Congress's funds is "an attack on democracy" as it has come just ahead of national elections. "How can one expect fair elections in such a situation when funds to the tune of Rs 270 crore have been freezed or taken away by the Income Tax authorities from Congress party's accounts," he asked. Confirming

NRIs should check their tax residency certificates for smoother compliance

Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance

ITAT's relief to Congress after nine bank accounts 'frozen' claim

Sources said that it was not the accounts that were frozen, but an amount of around Rs 115 crore, which remains attached

No TDS on minimum guarantee paid by OYO Rooms to hotels: ITAT

OYO Rooms assures minimum benchmarks, occupancy of hotels and in case such benchmark is exceeded, the service fee is payable by the hotel and in case of shortfall

ITAT dismisses I-T dept's appeal in BBC India case of AY 2004-05

The Income Tax Appellate Tribunal (ITAT) has dismissed the revenue department's appeal in a transfer pricing case related to BBC World (India) Pvt Ltd for AY 2004-05. The Delhi bench of ITAT upheld the CIT(A)'s ruling that advertisement expenses between group entities should be treated as pass-through costs for AY 2004-05. "The expenses relating to advertisement were on buying of advertisement space in the newspapers; that in such activities, the cost involved is too high and the effort required to buy such space is not much. On these reasonings, ld. CIT (A) held that they should be treated as a pass-through cost," the ITAT said in its order while dismissing the revenue department's appeal. Nangia Andersen India Partner - Transfer Pricing - Nitin Narang said the Delhi Tribunal, in a recent ruling in the case of BBC World (India) Pvt Ltd for AY 2004-05, agreed to consider expenses relating to the advertisement as pass-through cost and not to be considered as part of the cost base for

I-T appellate tribunal rules in favour of HDFC Life in Rs 3K cr litigation

In the regulatory filing, the company said that it has received the copy of the order along with relevant details on November 9, 2023

No pension, PF for I-T, GST tribunal members under amended tribunal rule

Earlier, serving judges of the High Court or the Supreme Court were appointed as chairperson or a member while staying in their existing service, and were entitled to pension and other benefits

ITAT nixes additional tax demand on firm for deposits during demonetisation

No reason for tax authorities to disbelieve why cash balance was needed, says tribunal

ITAT recalls decision on beneficial ownership under Indo-Mauritius treaty

Assessee appealed it was denied benefit of treaty on capital gains from share transfer

Those selling products at market rate can't claim charitable status: ITAT

Hospital's appeal against income tax department rejected; it is a private company that turned into a non-profit

Laid off? Seek advice before claiming tax exemption on severance pay

You can claim only if the payout is voluntary and you have documentary proof to this effect

Presumptive tax scheme can reduce compliance burden, return filing

Simplifies ITR filing, but can be taxing if actual income is below 8% of turnover

We pay all taxes in India, pleased at ITAT decision, says Google

Google India said it is pleased with the ITAT decision that the payments made by the tech giant to Google Ireland between 2007-08 and 2012-13 were not a royalty

What is 'Google Tax' or Diverted Profits Tax and the Singapore case?

Diverted Profits Tax, commonly known as "Google tax", refers to tax provisions designed to counter the practice of profits being diverted to other jurisdictions that have lower or zero tax rates

ITAT rejects equalisation levy over jurisdictional grounds, setback for I-T

Assessee was subjected to disallowance of Rs.8.89 cr for not charging EQ on the AdWords charges paid to Google Singapore