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Understand amendments in Section 200(3) of the Income Tax Act, effective via Finance Act 2024, impacting TDS correction deadlines and processes.
Punjab & Haryana HC quashes Section 148 notice issued by jurisdictional AO, ruling that only NFAC has authority under CBDT Circular dated 29.03.2022.
Punjab & Haryana High Court quashes notice u/s 148 issued by jurisdictional AO, ruling that only NFAC has authority post CBDT Circular dated 29.03.2022.
Understand the key precautions to consider while filing ITR for salaried individuals. Find tips on choosing the correct ITR form, understanding Form 16, 26AS, AIS, TIS, and more.
Chennai ITAT dismisses Revenue’s appeal against Kovai Medical Centre and Hospital Limited. Consultant doctors’ payments subjected to Section 194J, not 192, due to lack of employer-employee relationship.
ITO Vs Rajesh Kumar Chhanalal Patel (ITAT Ahmedabad) Ahmedabad ITAT upholds CIT(A) order deleting the addition of Rs. 86.75 Cr under Section 69A as Assessee’s unexplained income; Holds that the cash deposited in bank account cannot be treated as unexplained as the Revenue himself in the remand report and on verification accepted that the entire […]
DCIT Vs U.K. Paints (Overseas) Ltd. (Supreme Court of India) As found by the High Court in none of the cases any incriminating material was found during the search either from the Assessee or from third party. In that view of the matter, as such, the assessments under Section 153-C of the Act are rightly […]
PCIT Vs Narayan Kumar Khaitan (Orissa High Court) Case Law on Service of notice required through Superintendent of Jail if assessee is in judicial custody. A search and seizure operation under section 132 was conducted on SM and group wherein certain incriminating documents were found. Subsequently, assessment in case of assessee was completed under section […]
It is a well settled law that, reasons for formation of belief must have rational connection with or relevant bearing on formation of belief.
DCIT Vs British Agro Products (India) Pvt. Ltd. (ITAT Chennai) Mushrooms grown under controlled conditions constitutes ‘Agricultural Activity’, exemption from tax : – [DCIT v. British Agro Products (India) Pvt. Ltd. (05.04.2023) ITAT Chennai Chennai ITAT dismisses Revenue’s appeal, holds that cultivation and sale of white button mushrooms is an ‘agricultural activity’ and income derived […]
