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Section 234B

Latest Articles


From Side Hustle to Tax Puzzle: A Freelancer’s Guide to Taxes

CA, CS, CMA : Discover the complexities of tax compliance for freelancers and gig workers, from understanding income sources to navigating legal...

June 8, 2024 1314 Views 3 comments Print

Implications of amendment in Section 43B to taxpayers and SMEs

Income Tax : Understand the impact of the Section 43B amendment on taxpayers and SMEs in India. Learn about deductions, compliance, and implica...

February 6, 2024 1584 Views 0 comment Print

Inform your current employer about the previous employment and salary

Income Tax : Learn why disclosing previous salary is crucial for accurate tax planning. Explore advance tax intricacies, due dates, and interes...

January 9, 2024 2124 Views 0 comment Print

Pay 3rd Instalment Advance Tax for AY 2024-25 by 15th Dec: Guidelines & Example

Income Tax : Understand how to pay your 3rd instalment of Advance Tax for the Assessment Year 2024-25 before the deadline on 15th December. Det...

December 8, 2023 6192 Views 0 comment Print

Levy of Interest u/s 234B: Tenability in Excess Refund Cases

Income Tax : This article examines the tenability of levy of interest u/s 234B in cases of excess refund claimed by taxpayers under the Income ...

July 26, 2023 1503 Views 0 comment 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 9603 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 4449 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 2799 Views 0 comment Print


Latest Judiciary


ITAT Upholds Section 56(2) Addition for Property Purchase Without Consideration

Income Tax : Read the detailed analysis of Indira Ramaiah Vs ITO case by ITAT Bangalore. ITAT upheld the addition of gift for undisclosed inves...

July 18, 2024 513 Views 0 comment Print

ITAT Can Holistically Evaluate Disclosures and Make Additions to Taxpayers’ Declared Income

Income Tax : Income Tax Settlement Commission (ITSC) had authority to make additions to the declared income of taxpayers as ITSC's role was not...

July 16, 2024 180 Views 0 comment Print

Finalized Assessment Cannot Be Reopened for Property Deed Re-registration

Income Tax : Once an assessment has been finalized for a particular year, reassessment cannot be justified merely due to subsequent procedural ...

July 16, 2024 450 Views 0 comment Print

ITAT upholds enhancement by CIT(A) as addition were based on facts & not mere suspicion

Income Tax : ITAT noted that CIT(A)'s decision was reasoned, considering discrepancies in repayment timelines and absence of proper documentati...

July 14, 2024 435 Views 0 comment Print

ITAT deletes addition for alleged bogus long-term capital gains

Income Tax : Explore the detailed ITAT Mumbai order analysis of Yogesh P. Thakkar vs DCIT, focusing on disputed long-term capital gains and com...

July 12, 2024 726 Views 0 comment Print


Rectification order u/s 154 quashed in absence of mistake apparent on record

July 20, 2023 1527 Views 0 comment Print

ITAT Mumbai held that the issue of allowance of sales promotion expenses (including freebies) in the hands of Appellant was debatable and it cannot be said that allowance of deduction of sales promotion expenses by AO resulting in a mistake apparent on record. Thus, in absence of mistake apparent on record, order passed u/s 154 liable to be quashed.

Carrying Forward of Excess Application of Income When Receipts Are Less to succeeding year allowed

July 20, 2023 1776 Views 0 comment Print

ITAT Ahmedabad held that when application of income is more than receipts of year, excess application of income i.e., expenditure in the hands of the assessee can be carried forward to succeeding Year.

Addition u/s 69 sustained on failure to furnish explanation regarding cash deposited in bank accounts

July 19, 2023 924 Views 0 comment Print

ITAT Delhi held that addition under section 69 of the Income Tax Act on account of cash deposited in bank accounts sustained as the assessee failed to give any explanation regarding such cash found to be credited in the bank accounts.

Reopening of assessment before disposing of objections filed by assessee is unsustainable

July 18, 2023 1542 Views 0 comment Print

ITAT Mumbai held that reopening of assessment prior to disposing of the objections filed by the assessee is unsustainable and bad-in-law.

Directions issued by superior authorities are binding on Assessing Officer

July 8, 2023 1581 Views 0 comment Print

ITAT Delhi held that directions issued by a superior appellate authorities are binding on the Assessing Officers and Assessing Officer is required to strictly follow the directions of the appellate authorities and decide the issue as per the directions of the appellate authorities.

Receipts from operation of ships in international traffic is exempt in terms of India-Singapore DTAA

July 5, 2023 387 Views 0 comment Print

ITAT Delhi held that as per Article 8 of India–Singapore DTAA receipts from operation of ships and aircrafts in international traffic is taxable in the country of residence of the recipient. Therefore, amounts received by the assessee from operation of ships in international traffic would be exempt.

Pre-clinical laboratory services by non-resident to Indian Customers not chargeable to tax in India

July 4, 2023 573 Views 0 comment Print

ITAT Bangalore held that pre-clinical laboratory services rendered by the assessee (non-resident) to its customers in India would not be chargeable to tax in India as the technical services rendered by the affiliates do not “make available” technical knowledge, experience, skill, know-how or process while preparing these reports for their, Indian customers/ clients.

Agency commission rightly marked as NIL on failure to produce evidence regarding rending service by AE

July 3, 2023 414 Views 0 comment Print

ITAT Chennai held that assessee failed furnish any evidences to prove that there are negotiations between assessee and AEs with regard to marketing strategy, sales targets, credit period, etc. Accordingly, TPO/AO has rightly bench marked payment of agency commission as ‘nil’.

KVSS Determination Shields from Reassessment: Bombay High Court

June 28, 2023 441 Views 0 comment Print

Explore landmark ruling in Citibank N.A Vs S.K. Ojha case by Bombay High Court, confirming that post-Kar Vivad Samadhan Scheme determination, the Assessing Officer lacks jurisdiction to reopen tax assessments under Section 143 of Income Tax Act. Unearth key insights from this case setting a precedent for businesses under KVSS.

Sections 234A to 234D interest is Consequential & Mandatory: ITAT Chennai

June 20, 2023 336 Views 0 comment Print

ITAT Chennai ruling on consequential and mandatory nature of interest under sections 234A to 234D in case of Iljin Automotive Pvt Ltd vs DCIT

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