DISALLOWANCE FOR NON DEDUCTION OF TAX SHOULD NOT BE MADE WHEN ...

ITAT Rules Against Disallowance for Non-Deduction of Tax on Non-Taxable Income; Calls for Clarity in Tax Regulations.

September 28, 2011

Articles Indian Laws

DISALLOWANCE FOR NON DEDUCTION OF TAX SHOULD NOT BE MADE WHEN INCOME IS NOT TAXABLE- a discussion in view of order of ITAT and some suggestions by author. - Article

View Source

← Previous Next →

DISALLOWANCE FOR NON DEDUCTION OF TAX SHOULD NOT BE MADE WHEN ...

ITAT Rules Against Disallowance for Non-Deduction of Tax on Non-Taxable Income; Calls for Clarity in Tax Regulations.

September 28, 2011

Articles Indian Laws

You may also like:

The ITAT addressed various issues: disallowance u/s 40(a)(ia) for year-end provisions, deduction u/s 10AA for interest income, TDS u/s 195 for subscription fees, foreign...

Disallowance u/s 14A read with Rule 8D - Assessing Officer did not record objective satisfaction for not accepting suo moto disallowance made by assessee. ITAT directed...

The ITAT addressed various issues including disallowance u/s 14A r.w.r.8D, where Revenue challenged deletion of disallowance made by AO. ITAT upheld CIT(A)'s decision,...

This case deals with the disallowance of expenditure u/s 14A of the Income Tax Act, which pertains to expenditure incurred in relation to exempt income. The key points...

The ITAT upheld disallowance u/s 14A r.w.r.8D for expenditure on earning exempt income due to lack of fund utilization details. Dismissed appeal as assessee failed to...

Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

The Income Tax Appellate Tribunal (ITAT) held that every non-compliance with a notice u/s 142(1) gives a separate cause of action for levying penalty u/s 271(1)(b)....

The Income Tax Appellate Tribunal (ITAT) has adjudicated on various issues concerning deductions u/ss 80IA(4), 14A, and 35D. Regarding Section 80IA(4) deduction, the...

The ITAT ruled that denial of weighted deduction under s.35(2AB) does not prevent the assessee from claiming normal deduction for R&D expenditure under s.35(1)(i)...

Excess work in progress detected during survey was accepted by assessee as income u/s 69B, taxable at 30%. Assessee claimed such income as part of closing stock to be...

Disallowance of deduction u/s 80P - Addition in respect of rental income earned and Income from sale of crackers - The Tribunal held that the deduction u/s 80P is...

The ITAT Pune ruled on two main issues. Firstly, it held that contributions from members towards a common pool are not taxable due to the doctrine of mutuality....

The Income Tax Appellate Tribunal (ITAT) examined the issue of merger of intimation u/s 143(1) and scrutiny assessment u/s 143(3) of the Income Tax Act. The case...

The assessee, a resident Indian company engaged in manufacturing boiler pressure parts and engineering plants, paid ocean freight charges to a non-resident Korean...

The assessee failed to deduct tax on professional fees paid to various non-residents. The Assessing Officer (AO) held that the fees were liable to tax in India under the...

Quick Updates: