Home Highlights May 2015 Year 2015 This

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1. Reconciliation of the difference between receipts as per TDS Certificates (26AS) and receipts disclosed by the assessee - the explanation put forth by the assessee in an...

2. Addition on account of income as per TDS certificate - Difference in books of accounts and TDS certificate - addition wholly unwarranted. - AT

3. The ITAT Ahmedabad addressed the jurisdiction of the AO over a corporate assessee with income exceeding Rs. 30 Lakhs in metro cities. The tribunal confirmed that income,...

4. Tax deducted at source (TDS) credit was denied in the intimation u/s 143(1) to the assessee. The Commissioner of Income Tax (Appeals) upheld the Centralized Processing...

5. Double taxation of income - Single TDS certificate for two years - AT

6. Estimation of income - garnered transportation receipts - Applicability u/s 44AD for receipts on account of truck plying business - If in case the assessee is unable to...

7. Disallowance of write off of tax deducted at source (TDS) - non–allowance of TDS credit to the assessee due to non–receipt of TDS certificates amounts to loss of income...

8. Capital receipt or revenue receipt - receipt of compensation under JV agreement - surrender of certain rights - there as no impairment of source of income - taxable as...

9. The case involved a dispute over short collection of TDS due to lower TDS certificates with different TANs issued by deductees. The Central Processing Centre (CPC)...

10. Liability of Purchaser of corporate debtor under liquidation under auction - Certain demand raised by the liquidator - now post the execution of the Sale Certificate,...

11. Income estimation based on percentage of gross receipts - CIT(A) applied 12.5% net profit on gross receipts, assessee claimed thin margins in advertisement business....

12. The Appellate Tribunal addressed two issues regarding TDS credit. Firstly, the Tribunal emphasized that income and TDS must align in any assessment year when income is...

13. Competition Commission of India (Determination of Turnover or Income) Regulations, 2024 - (1) Turnover or income for enterprises includes the value of sales, revenue, or...

14. Verification Certificate - Certificate under provisions of rule 114(4) of Income Tax Rules, 1962

15. Interest income earned from funds received from Government for setting up a company is a capital receipt, not revenue receipt, as the funds and income must be utilized...