Income Tax : Learn steps for calculating and paying advance tax for corporates, due dates for instalments and penalties for delayed payments u...
Income Tax : Discover the risks and penalties of submitting fake rent receipts to claim HRA exemptions and learn how to comply with tax regulat...
Income Tax : Learn how to calculate advance tax, payment deadlines, and exemptions. Find the steps for online payment and consequences of non-p...
Income Tax : Discover penalties and prosecutions under the Income Tax Act, 1961, including default conditions, quantum of penalties, and potent...
Income Tax : Understand when to pay advance tax, the due dates, and the consequences of late payments, including interest charges under section...
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 Ahmedabad grants relief to Ria Zaveri Trust, ruling that excessive surcharge imposed by CIT(A) was unjustified. Decision alig...
Income Tax : Assessee had given cash to her employee who was the supervisor or the agent who in turn made payment to the sellers of the gold an...
Income Tax : Assessee submitted share valuation report which was not as per rule 11UA but valuation of shares was done as per 'Adjusted Net Ass...
Income Tax : ITAT Jodhpur ruled in favor of Arun Agarwal, allowing exemption under Section 54B for agricultural land sale, emphasizing that par...
Income Tax : ITAT, by going through established precedents, held that AO had not recorded any dissatisfaction with assessee’s voluntary disal...
The issue under consideration is whether disallowance u/s 36(1)(iii) made by AO forming an opinion that interest bearing funds were withdrawn from the firm being capital withdrawn by the partners and interest free advances is justified in law?
Whether A.O. is right in dismissing the claim of the assessee u/s. 54F of the Act on the ground that residential flat was not constructed after the date of transfer and they were constructed alongwith saleable flats?
The issue under consideration is whether the assessee is correct in stating that cognizance taken under section 153A of the Act is illegal at the end of the A.O.?
Orion Property Management Services Ltd. Vs. ITO (ITAT Bangalore) The issue under consideration is whether CIT(A) is correct in making addition of Sponsorship and Promotional income by reducing it from marketing cost? In the instant case, the marketing income has been considered under the head marketing cost and net of expenses is debited to P&L […]
CIT Vs M.A. Jacob & Company (Madras High Court) The order passed on the Settlement Applications filed by the assessee is dated 07.01.2000. The second order of ITSC was passed on 19.02.2004. After those orders passed by ITSC on the issue in question, concerning the assessee, in the year 2010, the Honourable Supreme Court had […]
IBM India Pvt. Ltd. Vs ACIT (ITAT Bangalore) It has been submitted by Ld.Counsel that as a consequence of APA entered into by assessee, income was increased vis-a-vis original computation at page 322. Referring to revised computation at page 328 of paper book volume 1, he submitted that, incremental increase in the income is Rs.7,74,2 […]
ITAT states that under this issue the assessee has challenged the levy of interest u/s 234B of the Act. The payer is under obligation to deduct the tax at source and on account of failure of payer to deduct the tax at source, the penalty interest u/s 234B cannot be imposed on the payee.
The issue under consideration is whether the CIT(A) is correct in confirming addition u/s 69C of the Act on account of unexplained purchases made during the year, calculated on the basis of peak credit?
Interest Calculation of Under Section 234A, 234B And 234C of Income Tax Act, Along With Provision And Example Applicability:- Every Assessee is required to pay advance tax whose income tax liability is ₹10000 or more. Exception:- Resident senior citizen has not income under head of Profit & Gain from business and profession, is not required […]
The issue under consideration is whether the charge of interest under sections 234B and 234C on the book profit was not justified?
