Income Tax : Learn how to file ITR-4 for FY 2023-24 (AY 2024-25) under the presumptive taxation scheme. Detailed analysis, eligibility, procedu...
Income Tax : Ensure a hassle-free Income Tax Return (ITR) filing for AY 2024-25 with our checklist. Learn about necessary documents, deadlines,...
Income Tax : Let’s compare and contrast the Annual Information Statement (AIS), Taxpayer Information Summary (TIS), and Form 26AS with th...
Income Tax : Delve into AIS, TIS, and Form 26AS to discern if they aid or perplex the taxpayer. Learn about their contents, differences, and th...
Income Tax : Explore Section 119(2)(b) of the Income Tax Act, allowing CBDT to condone delays in ITR filing due to genuine hardships. Learn pro...
Income Tax : CBDT has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year...
Income Tax : Stay updated with the latest notification from the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes regar...
Income Tax : Department urges taxpayers, to view their AIS through e-filing portal and file updated ITRs (ITR-U), wherever necessary. Eligible ...
Income Tax : Learn how to effectively respond to income tax notices and letters under the e-Verification Scheme 2021. Complete guide for taxpay...
Income Tax : Income Tax Department addresses concerns about mismatches in ITR and third-party data, offering a resolution guide on the Complian...
Income Tax : In a recent decision, ITAT Delhi permits bad debts claimed under section 36(1)(vii) by Oriental Bank of Commerce, setting aside CI...
Income Tax : In the case of Krishnamurthy Thiagarajan vs ACIT (ITAT Mumbai), AO's failure to record dissatisfaction u/s 14A led to ITAT allowin...
Income Tax : In the case of Dipak Kumar Agarwal Vs Assessing Officer, Allahabad HC rules that the power of the assessing authority to decide on...
Income Tax : Read about the case of Aark Infosoft Pvt. Ltd. vs. ACIT (ITAT Ahmedabad) where the assessment was deemed void due to a delayed Sec...
Income Tax : In Chandresh P. Thakker vs National Faceless Assessment Centre case, Mumbai ITAT allows commission expenses if supported by eviden...
Income Tax : Discover how TDS charge officers verify high-risk refund cases using Insight Instruction No. 76. Learn about the SOP, steps, and f...
Income Tax : Understand the time limit for income tax return verification after uploading. Learn the implications of late verification and the ...
Income Tax : Explore amendments in ITR form V & Acknowledgement for A.Y 2024-25 as per Income Tax Act, 1961 & Rules, 1962. Understand filing pr...
Income Tax : Learn how to initiate proceedings under section 147 of the IT Act in e-Verification cases. Detailed instructions for Assessing Off...
Income Tax : CBDT notifies ITR-7 [For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 13...
Here we will discuss few of the consequences of non-filing or delay in filing of ITR when you are liable to do so under the Income-tax Act (“the Act”) which will lead to paying higher taxes (including interest, penalty, Delay fees ) or face legal action by the Government: 1. Non-carry forward of losses – […]
In Med-Link Devices Pvt Ltd vs DCIT case, ITAT directs re-adjudication as taxpayer fails to provide detailed expenditure of Rs. 35.2 lakhs claimed as business promotion expenses.
Bombay High Court directs disciplinary action against AO for not deciding on an individual’s rectification application for six years under the Income Tax Act.
In PCIT vs Inderjit Singh Sodhi (HUF), Delhi High Court examines whether interest on compensation is taxable as income from other sources. Read the detailed analysis.
Delhi High Court rules AO can’t deviate from Transfer Pricing Officer’s determined Arm’s Length Price (ALP) in international transactions, upholding assessee’s writ petition.
Read the full text of Madras High Court’s judgment on condoning the delay in income tax return filing by Kalvadangam Primary Agricultural Co-operative Credit Society Limited.
Bombay High Court quashes income tax reassessment against a housewife. Case involves property purchase by her husband. Details and analysis here.
ITAT Ahmedabad ruling regarding Section 54 deduction to a Hindu Undivided Family (HUF) for property purchase in an individual’s name. The decision emphasizes the principle against allowing a change of opinion in reassessment proceedings, based on established legal precedents.
In a case concerning Thenkumarai Primary Agricultural Cooperative Credit Society, Madras High Court’s liberal interpretation of Section 119(2)(b) of Income Tax Act allows condonation of delay in filing return of income, considering genuine hardship faced by petitioner.
Read the ITAT Bangalore order in the case of Space Employees Cooperative Housing Society Ltd. vs. ITO. Learn about delay condonation & Section 80P(2)(d) relief for ISRO Employees Society.
