CBDT Allows Income Tax Exemption To Joint Electricity Regulatory Commission
1 year, 4 months ago

CBDT Allows Income Tax Exemption To Joint Electricity Regulatory Commission

Live Law  

The Central Board of Direct Taxes has exempted the Joint Electricity Regulatory Commission from Income tax under clause 46 of Section 10 of the Income-tax Act, 1961.The Central Government notified income tax exertion to the Joint Electricity Regulatory Commission, a commission constituted by the Government of India, in respect of petition fees, licence fees, other income in respect. The Central Board of Direct Taxes has exempted the Joint Electricity Regulatory Commission from Income tax under clause 46 of Section 10 of the Income-tax Act, 1961. The Central Government notified income tax exertion to the Joint Electricity Regulatory Commission, a commission constituted by the Government of India, in respect of petition fees, licence fees, other income in respect of reimbursement of Ombudsman expenses, profit on sale or disposal of assets, and interest earned. The commission shall file returns of income in accordance with the provisions of clause of sub-section of Section 139 of the Income-tax Act, 1961.

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History of this topic

UIDAI income exempted from I-T for five years
4 months, 1 week ago

UIDAI income exempted from I-T for five years

Deccan Chronicle  

New Delhi: The finance ministry has exempted the income of Unique Identification Authority of India from payment of income tax for five years till fiscal 2027-28. The UIDAI is a statutory authority established under the provisions of the Aadhaar Act, 2016, to ensure compliance with Aadhaar Act, and make regulations & rules consistent with the Act. Accordingly, grants/subsidies received from …

Direct Tax Cases Weekly Round-Up: 02 To 08 June 2024
6 months, 2 weeks ago

Direct Tax Cases Weekly Round-Up: 02 To 08 June 2024

Live Law  

Delhi High Court Once Issue Of Arm's Length Remuneration Settled By TPO, Question Of Ascertaining Existence Of PE Is Academic; Delhi High Court Quashes Reassessment Proceedings Case Title: Progress Rail Locomotive Inc. Exemption Allowable On Donations Made By One Charitable Trust To Other Charitable Institutions For Temporary Period: Delhi High Court Case Title: Commissioner Of Income Tax Versus M/S Jamnalal …

Direct Taxes Weekly Round-Up: 19 To 25 May 2024
6 months, 3 weeks ago

Direct Taxes Weekly Round-Up: 19 To 25 May 2024

Live Law  

Delhi High Court Case Title: PT Bukaka Teknik Utama Versus Commissioner Of Income Tax, Delhi - 2 The Delhi High Court has held that the assessee can't be obstructed from availing of the benefits of the Direct Tax Vivad se Vishwas Act, 2020 even where the time limit for an appeal has not expired. Case Title: New Delhi Television Limited …

Direct Tax Cases Monthly Round Up: January 2024
10 months, 2 weeks ago

Direct Tax Cases Monthly Round Up: January 2024

Live Law  

Supreme Court Case Title: Herbicides India Limited verses ACIT While setting aside the Rajasthan High Court orders, the Supreme Court restored the assessee's appeals by condoning the delay in filing the paper-book before High Court and observed that the assessee is entitled to have his appeals heard on merits. Madras High Court Case Title: Anamallais Bus Transports P. Ltd verses …

CBDT Grants Income Tax Exemption To Godavari River Management Board, Hyderabad
1 year ago

CBDT Grants Income Tax Exemption To Godavari River Management Board, Hyderabad

Live Law  

The Central Board of Direct Taxes has notified the income tax exemption under section Sec.10 of the Income Tax Act for Godavari River Management Board, Hyderabad.Godavari River Management Board, Hyderabad' is a Board constituted by the Central Government in pursuance of section 85 of the Andhra Pradesh Reorganisation Act, 2014, in respect of the various income arising to. The Central …

Tax Cases Weekly Round-Up: 26 November To 2 December, 2023
1 year ago

Tax Cases Weekly Round-Up: 26 November To 2 December, 2023

Live Law  

Delhi High Court Case Title: Resorts Consortium India Limited Versus ITAT Citation: 2023 LiveLaw 1178 The Delhi High Court has condoned a 79-day delay in filing an appeal as a review petition was filed before the Income Tax Appellate Tribunal. Allahabad High Court Income Tax Authority Cannot Dissect An Otherwise Indivisible Contract In Absence Of Legal Provision: Allahabad High Court …

CBDT Notifies Income Tax Exemption To Chhattisgarh Rajya Beej Pramanikaran Sanstha
1 year ago

CBDT Notifies Income Tax Exemption To Chhattisgarh Rajya Beej Pramanikaran Sanstha

Live Law  

The Central Board of Direct Taxes has notified the income tax exemption to Chhattisgarh Rajya Beej Pramanikaran Sanstha.The Board empowered under section 10 of the Income-tax Act, 1961 has exempted Chhattisgarh Rajya Beej Pramanikaran Sanstha, a body constituted by the State Government of Chhattisgarh from income tax.The income tax exemption is applicable on grants received. The Central Board of Direct …

CBDT Notifies Income Tax Exemption To Maharashtra Council Of Homoeopathy
1 year ago

CBDT Notifies Income Tax Exemption To Maharashtra Council Of Homoeopathy

Live Law  

The Central Board of Direct Taxes has notified the income tax exemption to the Maharashtra Council of Homoeopathy.The Board empowered under section 10 of the Income-tax Act, 1961 has exempted the Maharashtra Council of Homoeopathy which is a Body established under clause No 14 of the Maharashtra Homoeopathy Practitioners’ Act, 1960 by the Maharashtra Government from income. The Central Board …

Income Tax Dept. Can Share Taxpayer's Information With Deputy Director General Of UIDAI: CBDT
1 year ago

Income Tax Dept. Can Share Taxpayer's Information With Deputy Director General Of UIDAI: CBDT

Live Law  

The Central Board of Direct Taxes has notified that the income tax department can share taxpayer's information with the deputy director general of the Unique Identification Authority of India.“In pursuance of sub-clause of clause of sub-section of section 138 of the Income-tax Act, 1961, the Central Government hereby specifies Deputy Director General. The Central Board of Direct Taxes has notified …

CBDT Notifies Income Tax Exe​​mption To National Farmers Welfare Program Implementation Society
1 year, 2 months ago

CBDT Notifies Income Tax Exe​​mption To National Farmers Welfare Program Implementation Society

Live Law  

The Central Board of Direct Taxes has notified the income tax exe​​mption to National Farmers Welfare Program Implementation Society under section 10 of the Income-tax Act, 1961.The exemption shall be granted to National Farmers Welfare Program Implementation Society on Government Grant, Miscellaneous receipts from RTI, Tender Fee, Fines & Penalties and sale of. The Central Board of Direct Taxes has …

CBDT Allows Income Tax Exemption To Unique Identification Authority Of India
1 year, 3 months ago

CBDT Allows Income Tax Exemption To Unique Identification Authority Of India

Live Law  

The Central Board of Direct Taxes has granted income tax exemption to the Unique Identification Authority Of India.‘Unique Identification Authority of India’ is a statutory Authority established under the provisions of the AADHAAR Act, 2016 by the Government of India.The CBDT has notified the tax exemption in respect of grants/subsidies received from the Central. The Central Board of Direct Taxes …

CBDT Notifies Income Tax Exemption To Chandigarh Building And Other Construction Workers Welfare Board
1 year, 4 months ago

CBDT Notifies Income Tax Exemption To Chandigarh Building And Other Construction Workers Welfare Board

Live Law  

The Central Board of Direct Taxes has notified the income tax exemption to Chandigarh Building and Other Construction Workers Welfare Board.The Board has exempted the income of Chandigarh Building and Other Construction Workers Welfare Board arising from Proceeds of the Cess collected under the Building & Other Construction Workers Welfare Cess Act, 1996 and rules and contribution. The Central Board …

CBDT Notifies 'Yamuna Expressway Industrial Development Authority’ For Exemption Under Sec. 10(46)
1 year, 5 months ago

CBDT Notifies 'Yamuna Expressway Industrial Development Authority’ For Exemption Under Sec. 10(46)

Live Law  

The Central Board of Direct Taxes has recently notified the Yamuna Expressway Industrial Development Authority under section 10 of the Income Tax Act, 1961. The authority, constituted by the State Government of Uttar Pradesh, will be eligible for the following specified income exemptions: Grants received from the State Government; Moneys received from the disposal of land, building, and other properties, …

Tax Cases Weekly Round-Up: 16 April To 22 April, 2023
1 year, 8 months ago

Tax Cases Weekly Round-Up: 16 April To 22 April, 2023

Live Law  

Supreme Court Case Title: SAP Labs India Private Limited vs Income Tax Officer, Circle 6, Bangalore Citation : 2023 LiveLaw 328 The Supreme Court has ruled that the High Court is not precluded from considering the determination of the arm’s length price determined by the Income Tax Appellate Tribunal, in exercise of its powers under Section 260A of the Income …

CBDT Notifies Authority To Share Info Of Income-Tax Assessees For Proper Implementation Of Welfare Schemes In Tamil Nadu
1 year, 10 months ago

CBDT Notifies Authority To Share Info Of Income-Tax Assessees For Proper Implementation Of Welfare Schemes In Tamil Nadu

Live Law  

The Central Board Of Direct Taxes has notified the Authority for sharing of information regarding income-tax assessees for Centrally The Central Board Of Direct Taxes has notified the Authority for sharing of information regarding income-tax assessees for Centrally The Secretary, Directorate of e-Governance, Government of Tamil Nadu has been notified by the Board empowered under Section 138 of the Income …

CBDT Notifies ITR Forms For Assessment Year 2023-24
1 year, 10 months ago

CBDT Notifies ITR Forms For Assessment Year 2023-24

Live Law  

The Central Board of Direct Taxes has notified the ITR forms for the assessment year 2023–24.The Board has notified the Income-tax Rules, 2023, which shall come into force with effect from April 1, 2023.The Board has notified the Indian Income Tax Return Forms, namely ITR-1 SAHAJ, ITR-2, ITR-3, ITR-4 SUGAM, ITR-5, ITR-6, and ITR-V, and the Indian Income Tax. The …

CBDT Sets Up Offices in Delhi And Mumbai For Operationalising Board For Advance Rulings
1 year, 10 months ago

CBDT Sets Up Offices in Delhi And Mumbai For Operationalising Board For Advance Rulings

Live Law  

The Central Board of Direct Taxes has notified the setting up of offices in Delhi and Mumbai for operationalizing the Board for Advance Rulings.The Board For Advance Ruling will have any additional income-tax authorities, ministerial staff, executives, or consultants it deems necessary to assist its members.The Principal Chief Commissioner of Income-tax concerned, who is. The Central Board of Direct Taxes …

CBDT Exempts NRIs Without PAN From E-filing Form 10F Upto March 2023
2 years ago

CBDT Exempts NRIs Without PAN From E-filing Form 10F Upto March 2023

Live Law  

The Central Board of Direct Taxes has exempted non-resident Indians without permanent account numbers from e-filing Form 10F up to March 2023.The notification No. The Central Board of Direct Taxes has exempted non-resident Indians without permanent account numbers from e-filing Form 10F up to March 2023. "On consideration of the practical challenge being faced by non-resident taxpayers not having PAN …

CBEC Not Empowered To Modify the Scope of Exemption Notification issued by the Central Government: CESTAT
2 years ago

CBEC Not Empowered To Modify the Scope of Exemption Notification issued by the Central Government: CESTAT

Live Law  

The Delhi Bench of the Customs, Excise and Service Tax Appellate Tribunal has held that the Central Board of Excise and Customs is not empowered to modify the scope of an exemption notification that the Central Government has issued.The two-member bench of Rachna Gupta and P.V. The Delhi Bench of the Customs, Excise and Service Tax Appellate Tribunal has held …

TDS Provisions Not Applicable To Commission Paid To Bank: ITAT
2 years, 2 months ago

TDS Provisions Not Applicable To Commission Paid To Bank: ITAT

Live Law  

The Delhi Bench of the Income Tax Appellate Tribunal has held that TDS provisions are not applicable to commissions paid to banks.The two-member bench of Saktijit Dey and Dr B.R.R. The Delhi Bench of the Income Tax Appellate Tribunal has held that TDS provisions are not applicable to commissions paid to banks. Kumar has observed that commission paid to partners …

Service Tax Exemption Available On Rendering Transmission Of Electricity: CESTAT
2 years, 3 months ago

Service Tax Exemption Available On Rendering Transmission Of Electricity: CESTAT

Live Law  

The Chattisgarh Customs, Excise and Service Tax Appellate Tribunal, consisting of Justice Dilip Gupta and P. Anjani Kumar, has held that the service tax exemption is available on the transmission of electricity.The appellant/assessee is in the business of manufacturing power transmission towers and parts and accessories. The Chattisgarh Customs, Excise and Service Tax Appellate Tribunal, consisting of Justice Dilip Gupta …

S. 194-I Income Tax Act | TDS Can't Be Deducted In Absence Of Payment Of Rent: Orissa High Court
2 years, 8 months ago

S. 194-I Income Tax Act | TDS Can't Be Deducted In Absence Of Payment Of Rent: Orissa High Court

Live Law  

The Orissa High Court has held that in absence of payment of rent, the obligation to deduct tax at source under Section 194-I of the Income Tax Act, 1961 does not arise at all. While dismissing an Income Tax Appeal, a Division Bench of Chief Justice Dr. S. Muralidhar and Justice R.K. Pattanaik observed, "In absence of there being any …

Banks Exempted From Deducting Tax At Source While Paying Interest To Statutory Corporations : Supreme Court Reiterates
2 years, 9 months ago

Banks Exempted From Deducting Tax At Source While Paying Interest To Statutory Corporations : Supreme Court Reiterates

Live Law  

The Supreme Court has reiterated that Banks are exempted from the mandate of Section 194A of the Income Tax Act, 1961, to deduct tax at the source, on payment of interest to corporations established by a statute. In the facts of the present case, the Apex Court held that in terms of the notification dated 22.10.2022 issued by the Central …

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