Home Highlights August 2017 Year 2017 This

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1. Section 10(10AA) of the Income Tax Act provides tax exemption for leave encashment upon retirement for Central/State government employees and employees other than...

2. Exclusion u/s 10(10CC) - non-monetary perquisites - whenever tax is deposited in respect of a non-monetary perquisite, provision of Section 10 (10CC) applies, thus...

3. Exemption u/s 10(10CC) - Whether tax paid by the employer on the salaries of the employees would constitute non-monetary benefits exempt u/s 10(10CC) - HC

4. Assessee's claim for exemption u/s 10(35) was rejected by CPC while processing return u/s 143(1)(a), which attained finality as assessee failed to challenge it before...

5. Approval u/s 10(23C)(v) - Assessee does not have any approval under section 10(23C)(v) of the I.T. Act for the assessment year under appeal, therefore, there is no...

6. Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

7. Tax perquisites - tax borne by employer is paid directly to the tax authority and there is no payment to the tax employee, the tax so borne is a non-monetary transaction...

8. Addition towards single premium paid on policy taken for the Director by the Company - Determination of sum of addition - Gross amount or Net amount of premium -...

9. Exemption u/s 11 - Since the assessee has been claiming exemption u/s.10(23C) in the earlier years therefore during the year under consideration there is high...

10. Disallowance u/s 40(a)(ia) for non-deduction of tax at source (TDS) - assessee in default - Assessee has paid interest u/s 201(1A) for non-deduction/short deduction of...

11. Addition u/s.40(a)(ia) - assessee had paid interest to M/s. Tata Motors Finance Ltd. without deducting tax at source - when the assessee could not be held as an...

12. Addition u/s 40(a)(ia) - Non-deduction of TDS - year end provisions was made by assessee in respect of expenses - As regards to the claim of the assessee that in...

13. Denial of exemption u/s 10(25)(ii) - filling of return in the abbreviated name - We are of the considered view that ld. CIT (A) has erred in dismissing the rectification...

14. The crux revolves around the interpretation of Sections 10(10A) and 10(10AA) regarding exemptions for employees of the "State Government". The assessees claimed...

15. Exemption u/s 10(38) - LTCG - general insurance business - In the present assessment year the ld AO has himself allowed exemption u/s 10(15)(iv)(h) of the Act in regard...