Taxscan | Simplifying Tax Laws

The Income Tax Appellate Tribunal (ITAT), Raipur Bench, has set aside the order of the Additional/JCIT(A)-2, Vadodara, and restored the matter for de novo adjudication on merits.

The assessee, PRA Panels Private Limited, had filed its original r...

The Income TaxAppellate Tribunal (ITAT) has ruled that the establishment of the Associated Enterprise (AE) relationship cannot be done based on the presumption made under Section 92A(2)(g) of the Income Tax Act, 1961 unless all requirements mentioned under

Securities and Exchange Board of India (SEBI) has disposed off of proceedings against Max Financial Services Limited (MFSL), Max Life Insurance Company Limited, Axis Bank Limited, Axis Capital Limited, Axis Securities Limited and key managerial personnel, finding that the alleged lapses of disclosure and fraudulent scheme in respect of the Axis Bank deal have not been made...

The Income Tax Appellate Tribunal (ITAT), Cuttack Bench, Cuttack, sitting through virtual hearing at Kolkata, quashed the show-cause notice issued by the National Faceless Assessment Centre (NFAC) on 24.03.2022, as the notice was issued before the NFAC was vested with jurisdiction under the faceless assessment scheme.

The assessee, Lingaraj Debta, challenged the ...

The Income Tax Department (ITAT), ChandigarhBench, allowed an appeal and held that the source of cash deposits cannot be doubted unless other source of income is established.

The assessee, Sumit Wadhwa, is aggrieved with the confirmation of additio...