Income Tax : The most commonly applied interest provisions are found under Sections 234A, 234B, 234C. Understanding these sections is crucial f...
Income Tax : Deadline for filing Income Tax Returns is fast approaching. Although due date for non-audit taxpayers has been extended to Septemb...
Income Tax : Understand advance tax liability and payment due dates in India. Learn who needs to pay, installment percentages, special provisio...
Income Tax : Understand advance tax rules, due dates, and penalties for non-compliance. Learn how to avoid interest charges under sections 234B...
Income Tax : Learn steps for calculating and paying advance tax for corporates, due dates for instalments and penalties for delayed payments u...
Income Tax : Request to CBDT to permit filing of Form 10IC after expiration of time limit by condoning delay Issuance of Order under Section ...
Income Tax : All Odisha Tax Advocates Association has filed an PIl before Orissa High Court with following Prayers- (i) Admit the Writ Petition...
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...
Income Tax : ITAT Delhi held that addition under section 68 of the Income Tax Act towards unexplained cash credit cannot be sustained as cash d...
Income Tax : Delhi ITAT rules on Sushil Bansal's appeal, deleting interest u/s 234B and penalty u/s 271AAB on Rs. 88 lacs seized cash, citing p...
Income Tax : ITAT Delhi held that addition under section 68 of the Income Tax Act cannot be sustained as assessee has proved the source of fund...
Income Tax : ITAT Mumbai held that short-term capital loss [STCL] on which STT is paid [which is taxable at 15% u/s. 111A of the Income Tax Act...
Income Tax : ITAT Raipur held that addition of commission @1% on bogus sales transacted upheld as no plausible explanation provided by the asse...
The key dispute centered around the disallowance of deductions under section 48(ii) of the Income Tax Act related to the indexed cost of interest paid for the acquisition of a property sold by the assessee.
ITAT Mumbai held that revision under section 263 of the Income Tax Act unjustified as AO while allowing the exemption in the order passed under section 144 r.w.s.263 has taken a possible view upon verifying the details available on record.
Read ITAT decision on the eligibility of a cooperative society for a deduction under Section 80P(2)(d) of the Income Tax Act. The case, Keyyur Primary Agricultural Co-operative Society Ltd. Vs ITO, addresses interest income on investments in a cooperative bank without a banking license.
Learn why disclosing previous salary is crucial for accurate tax planning. Explore advance tax intricacies, due dates, and interest implications. Navigate the complexities of income tax seamlessly.
Assessee had shown sufficient cause for the delay in filing the appeals before the Tribunal as he was old and not well acquainted and conversant with the digital system in order to follow up with the income tax notices, which were posted in IT portal. Accordingly, the delay in filing appeal was condoned.
ITAT Ahmedabad held that an appellate authority can exercise the power u/s. 251(1)(a) to enhance the assessment only after giving a notice for enhancement. Accordingly, enhancement by CIT(A) without issuance of notice is untenable in law.
ITAT Bangalore upholds disallowance of belated ESI & Provident Fund payments in Balmatta Diagnostic & Research Centre case. Portal glitches lead to delay, but disallowance confirmed.
Read ITAT Delhi’s order on Rajiv Ghai vs. ACIT case. Deduction under section 54F allowed for house registered in parents’ name. Detailed analysis and conclusion.
Read ITAT Mumbai order setting property allotment date as acquisition date for capital gain computation. Details of D.K. Brothers vs. ITO case and implications.
Co-operative society received/earned interest on deposits with the co-operative bank was eligible for claim of deduction under section 80(2)(d).
