Daily digest for Gupta Chandan & Associates, on April 15, 2022

posted: "INCOME TAX : Where Assessing Officer failed to record its satisfaction with regard to claim of assessee that it had incurred any expenses in earning exempt income except a sum of Rs. 1.61 lakhs, impugned disallowance under section 14A by invoking rule 8D " New post on Gupta Chandan & Associates Rule 8D mandates that AO should record satisfaction that exp. claim by assessee to earn exempt income is incorrect: HC INCOME TAX : Where Assessing Officer failed to record its satisfaction with regard to claim of assessee that it had incurred any expenses in earning exempt income except a sum of Rs. 1.61 lakhs, impugned disallowance under section 14A by invoking rule 8D made by Assessing Officer was unjustified, however, disallowance to extent of Rs. […] Read more of this post April 15, 2022 at 12:00 am | Categories: Latest Case Laws, News | URL: https://wp.me/pcenIR-2mc Comment    See all comments Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/rule-8d-mandates-that-ao-should-record-satisfaction-that-exp-claim-by-assessee-to-earn-exempt-income-is-incorrect-hc/

posted: "INCOME TAX : Charges deducted by bank while making payments to assessee for goods purchased by customers through credit/debit cards could not be treated as commission, hence, were not liable to TDS under section 194HINCOME TAX : Charges deducted by bank w" New post on Gupta Chandan & Associates No Sec. 194H TDS on charges collected by bank while releasing payment received from assessee's customers via cards: ITAT INCOME TAX : Charges deducted by bank while making payments to assessee for goods purchased by customers through credit/debit cards could not be treated as commission, hence, were not liable to TDS under section 194HINCOME TAX : Charges deducted by bank while making payments to assessee for goods purchased by customers through credit/debit cards could […] Read more of this post April 15, 2022 at 12:00 am | Categories: Latest Case Laws, News | URL: https://wp.me/pcenIR-2mb Comment    See all comments Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/no-sec-194h-tds-on-charges-collected-by-bank-while-releasing-payment-received-from-assessees-customers-via-cards-itat/