Requirement of company secretary at Power Grid Infrastructure Investment Trust Engagement of Eligible & Experienced Company Secretary Professional (on contract) for IPAs of the PGInvIT Power Grid Infrastructure Investment Trust (PGInvIT/Trust), is a listed business trust set up under SEBI (Invit) Regulations and is sponsored by Power Grid …

AMC charges not fee for technical services – No ITAT deletes disallowance u/s 40(a)(ia) In a recent judgment, ITAT has deleted disallowance u/s 40(a)(ia) holding that payment of AMC charges to a foreign company is not a fee for technical services and no tax at source is deductible …

Mere higher cash deposits during demonization period does not make explanation of cash sales as bogus and unsustainable – ITAT In a recent judgment, ITAT has deleted additions holding that merely that certain cash deposits were made by assessee during demonization period and such deposits were on a …

Additions based on statement recorded u/s 132(4) without considering Retraction Affidavit with evidences deleted In a recent judgment, ITAT has deleted additions which were based on only statement recorded u/s 132(4) and without taking note of the Retraction Affidavit filed by the assessee with relevant evidences. ABCAUS Case …

Interest income on fixed deposits of the surplus funds put in FDRs cannot be treated as business income but income from other sources – ITAT In a recent judgment, ITAT Interest income on fixed deposits of the surplus funds put in FDRs cannot be treated as business income …

Income tax demand will be enforced qua the assets, if any, left behind by the deceased assessee – ITAT In a recent judgment, ITAT has held that income tax demand will be enforced qua the assets, if any, left behind by the deceased assessee as section 159(2) contemplates …