Month: April 2023

Clipped from: https://www.taxscan.in/interest-paid-on-delayed-payment-of-tds-not-penal-in-nature-itat-allows-deduction-u-s-37/270819/ The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed the deduction under Section 37 of the Income Tax Act 1961 holding that the interest paid

Clipped from: https://www.taxscan.in/distributor-not-required-to-deduct-tds-on-payment-of-turnover-discount-to-dealers-u-s-194h-of-income-tax-act-itat-read-order/271284/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Distributor%20Not%20Required%20to%20Deduct%20TDS%20on%20Payment%20of%20Turnover%20Discount%20to%20Dealers%20u/s%20194H%20of%20Income%20Tax%20Act:%20ITAT The Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the discount paid to dealers by the distributor in the nature of turnover discount is not

Clipped from: https://www.taxscan.in/no-addition-can-be-made-against-individual-for-cash-deposit-of-tuition-fee-received-from-students-during-demonetization-period-itat-read-order/271364/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=No%20Addition%20can%20be%20made%20Against%20Individual%20for%20Cash%20Deposit%20of%20Tuition%20Fee%20received%20from%20Students%20during%20Demonetization%20Period:%20ITAT The Income Tax Appellate Tribunal (ITAT), Mumbai bench, has deleted an addition under section 69A of the Income Tax Act, 1961 in respect of cash deposit during demonetization