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Section 234B

Latest Articles


Advance Tax: Due Dates & Consequences of Non-Payment

Income Tax : Understand advance tax rules, due dates, and penalties for non-compliance. Learn how to avoid interest charges under sections 234B...

March 28, 2025 2106 Views 0 comment Print

How to calculate and pay advance tax for corporates

Income Tax : Learn steps for calculating and paying advance tax for corporates, due dates for instalments and penalties for delayed payments u...

December 26, 2024 6129 Views 0 comment Print

Fake Rent Receipts for claiming HRA exemption: Consequences

Income Tax : Discover the risks and penalties of submitting fake rent receipts to claim HRA exemptions and learn how to comply with tax regulat...

October 21, 2024 20358 Views 0 comment Print

Advance tax payment under Income Tax and calculation

Income Tax : Learn how to calculate advance tax, payment deadlines, and exemptions. Find the steps for online payment and consequences of non-p...

September 24, 2024 8634 Views 2 comments Print

Penalties and Prosecutions Under Income tax Act, 1961

Income Tax : Discover penalties and prosecutions under the Income Tax Act, 1961, including default conditions, quantum of penalties, and potent...

September 6, 2024 514647 Views 4 comments Print


Latest News


Request to CBDT to permit delayed filing of Form 10IC

Income Tax : Request to CBDT to permit filing of Form 10IC after expiration of  time limit by condoning delay Issuance of Order under Section ...

February 4, 2022 9822 Views 1 comment Print

AOTAA files PIL before Orissa HC on the issue of late fee, interest & penalty under Income Tax

Income Tax : All Odisha Tax Advocates Association has filed an PIl before Orissa High Court with following Prayers- (i) Admit the Writ Petition...

January 13, 2022 4584 Views 1 comment Print

Belated Release of ITRs and burden of Interest U/s. 234 B

Income Tax : At the end of May the Income Tax Return forms are released for the Assessment Year 2015-16 and same been held back by finance mini...

June 4, 2015 2856 Views 0 comment Print


Latest Judiciary


Notice issued u/s. 143(2) without specifying type of scrutiny is invalid: ITAT Kolkata

Income Tax : ITAT Kolkata held that notice issued u/s. 143(2) of the Income Tax Act without specifying whether it is limited or complete of com...

May 16, 2025 639 Views 0 comment Print

Section 80-IB(10) deduction was allowable for timely completed wings and held remaining wing to be separate project

Income Tax : Assessee was a partnership firm engaged in real estate development, had undertaken a housing project named Aakash Nidhi. It claime...

May 8, 2025 276 Views 0 comment Print

Income declared under PMGKY needs verification hence matter of unexplained money u/s. 69A remitted

Income Tax : ITAT Ahmedabad held that claim of assessee that income declared under Pradhan Mantri Garib Kalyan Yojana [PMGKY] and hence the sam...

May 6, 2025 150 Views 0 comment Print

Taxpayer Eligible for Vivad Se Vishwas Scheme on Disputed Interest: Madras HC

Income Tax : Madras High Court rules that a taxpayer with a writ petition pending on disputed interest is eligible for the Vivad Se Vishwas sch...

May 2, 2025 249 Views 0 comment Print

Mauritius Fund Allowed to Carry Forward Capital Losses Despite DTAA Exemption on Gains

Income Tax : ITAT Mumbai allows Mauritius fund to carry forward capital losses under Indian law while claiming DTAA exemption on pre-2017 share...

April 27, 2025 186 Views 0 comment Print


Latest Posts in Section 234B

Notice issued u/s. 143(2) without specifying type of scrutiny is invalid: ITAT Kolkata

May 16, 2025 639 Views 0 comment Print

ITAT Kolkata held that notice issued u/s. 143(2) of the Income Tax Act without specifying whether it is limited or complete of compulsory manual scrutiny is invalid and in violation of CBDT instruction F. No. 225/157/2017/ITA-II Dated 23-06-2017.

Section 80-IB(10) deduction was allowable for timely completed wings and held remaining wing to be separate project

May 8, 2025 276 Views 0 comment Print

Assessee was a partnership firm engaged in real estate development, had undertaken a housing project named Aakash Nidhi. It claimed deduction under section 80-IB(10) amounting to Rs. 2,51,07,390 on the entire profit of the project comprising Wings A to G.

Income declared under PMGKY needs verification hence matter of unexplained money u/s. 69A remitted

May 6, 2025 150 Views 0 comment Print

ITAT Ahmedabad held that claim of assessee that income declared under Pradhan Mantri Garib Kalyan Yojana [PMGKY] and hence the same should not be treated as unexplained deposits needs verification. Hence, matter remitted to AO to verify the same.

Taxpayer Eligible for Vivad Se Vishwas Scheme on Disputed Interest: Madras HC

May 2, 2025 249 Views 0 comment Print

Madras High Court rules that a taxpayer with a writ petition pending on disputed interest is eligible for the Vivad Se Vishwas scheme, quashing rejection & directing processing.

Mauritius Fund Allowed to Carry Forward Capital Losses Despite DTAA Exemption on Gains

April 27, 2025 186 Views 0 comment Print

ITAT Mumbai allows Mauritius fund to carry forward capital losses under Indian law while claiming DTAA exemption on pre-2017 share gains.

ITAT Ahmedabad quashes Ex-Parte Order for Ignoring Objections to Mechanical Reopening

April 23, 2025 603 Views 0 comment Print

Tribunal also took note of the fact that AO had merely reproduced identical reasons for multiple years without verifying facts or forming a belief based on individual year-specific material.

ITAT Jaipur Grants 90% Relief in Disputed Purchase Case Involving Accommodation Entries

April 19, 2025 3867 Views 0 comment Print

ITAT Jaipur partially allows Amit Product’s appeal in a bogus purchase case, reducing disallowance to 10% of Rs. 32.88 lakh.

Shares held as investments are taxable under Capital Gains: ITAT Mumbai

April 14, 2025 312 Views 0 comment Print

ITAT Mumbai held that as per circular no. 6 of 2016 dated 29th February 2016, it is clear that it is the assessee who decides whether the shares are held as investment or stock-in-trade. Thus, here since shares are held as investments, gains are taxable as capital gains.

Delhi HC Orders Reassessment of DTVSV Application, Rejects PCIT’s Cancellation

April 7, 2025 234 Views 0 comment Print

Delhi HC orders re-assessment of Seema Tripathi’s DTVSV application after rejecting cancellation by PCIT, citing judicial precedents for interest waiver.

Recovery or repayment of fraudulent income doesn’t qualify as allowable expense

March 28, 2025 336 Views 0 comment Print

In the present case, recovery or repayment of fraudulent income does not qualify as an allowable expense. Allowing deductions for recovery of fraudulent income would contradict the legislative intent of the Income-tax Act.

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