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Income Tax : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...
Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Court held that, for assessment year 2009-10, filing the audit report along with the return was directory and not mandatory. D...
Income Tax : The Chennai ITAT held that the Pr. CIT could not invoke Section 263 on matters already under consideration before the appellate au...
Income Tax : The Chennai ITAT held that excess stock found during a survey could not be taxed as unexplained investment when it had been accoun...
Income Tax : The Tribunal upheld the disallowance of a ₹10 lakh deduction after the recipient political party informed the tax authorities th...
Income Tax : The Tribunal upheld the denial of deduction under Section 80GGC after finding that the political donation formed part of an allege...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Sh. Mukesh Mittal Vs ITO (ITAT Delhi) The assessment order clearly shows that the AO has merely reproduced the modus operandi of the entry providers who booked bogus long term capital gains through penny stock companies. The show cause notice dated 2.12.2016 issued by the AO during the assessment proceedings and the findings of the […]
This write up summarizes the decision of the Mumbai ITAT in the matter of R.D Tata Trust (Assessee) wherein Tribunal held that cancellation of Registration granted to the assessee will have effect from the date on which the hearing of First show cause notice was concluded. Facts of the case The assessee trust was constituted […]
Glory Lifesciences Pvt. Ltd. Vs ACIT (ITAT Delhi) It is an admitted fact that before levy of the penalty A.O. has issued show cause notice Dated 20.06.2014 in all the years in which A.O. has mentioned both the limbs of Section 271(1)(c) of the I.T. Act that assessee have concealed the particulars of your income […]
No satisfaction note have been recorded under section 153C of the I.T. Act. The A.O. passed the assessment order for the assessment year under appeal i.e., 2013-2014 under section 143(3) considering the preceding A.Y. 2012-2013 to the year of the search.
Central Board of Direct Taxes, e-Filing Project ITR 4 – Validation Rules for AY 202 1-22 Version 1.0 2nd April 2021 Directorate of Income Tax (Systems) E-2, A.R.A. Centre, Ground Floor Jhandewalan Extension New Delhi – 110055 Document Revision List Document Name: ITR 4 – Validation Rules for AY 202 1-22 Version Number: 1.0 Revision […]
ITR 1 – Validation Rules for AY 2021-22 Version 1.0 2nd April 2021 Directorate of Income Tax (Systems) E-2, A.R.A. Centre, Ground Floor Jhandewalan Extension New Delhi – 110055 Document Revision List Document Name: ITR 1 – Validation Rules for AY 2021-22 Version Number: 1.0 Revision Details Version No. Revision Date Revision Description Page Number […]
The Special Judge for CBI cases, Delhi has sentenced S/Sh Ashutosh Verma then Deputy Director (Investigation) Income Tax, Delhi; Suresh Nanda (private person) and Bipin Shah (Chartered Accountant), all to undergo one year Rigorous Imprisonment with fine of Rs. one lakh each in a CBI case.
ITO Vs Shivani Gupta (ITAT Delhi) The A.O. in this case noted that assessee has sold the shares of Shilpi Cable Technologies Ltd., and claimed exempt under section 10(38) of the I.T. Act of the impugned amount. The A.O. merely declared this company to be penny stock company without bringing any evidence on record. Though […]
MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 6th April, 2021 CORRIGENDA THE FINANCE ACT, 2021 No. 13 OF 2021 In the FINANCE ACT, 2021 (13 OF 2021), as published in the Gazette of India, Extraordinary, Part II, Section 1, dated the 28th March, 2021, Issue No. 15,— Page No. Line(s) No. For […]
Introduction to ITR Offline utility Assessment Year 2021-22 ITR-1 and 4* * Enabled for ITR-1 & 4 as of now Steps to Download and install Offline Utility and fill the same Let us understand the execution steps for ITR 1 & ITR 4……. Step by Step Guide – Download & Install Offline Utility Step 1 […]
