Income Tax : Understand Sections 234A, 234B, 234C, and 234D of the Income Tax Act covering interest on late filing, short payment, delayed adva...
Income Tax : A summary of key penalties under the Income Tax Act for AY 2026-27, covering defaults from late filing and non-payment to misrepor...
Income Tax : Understand how interest under the Income Tax Act is calculated, including Sections 234A–234D, 244A, and Rule 119A mechanics for ...
Income Tax : Interest under Section 234B cannot be levied on Section 115BBE-assessed income for resident senior citizens exempt from advance ta...
Income Tax : A look into why taxpayers face interest charges under Sections 234B and 234C, exploring how Section 210, a provision for official ...
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 : Relying on its earlier ruling in the assessee’s own case, the Tribunal held that gross profit should be estimated at 0.40% rathe...
Income Tax : Tribunal reiterated that credits brought forward from earlier financial years cannot ordinarily be taxed under Section 68 in subse...
Income Tax : ITAT Delhi held that lawful TDS credit cannot be denied merely because the Assessing Officer overlooked an earlier rectification o...
Income Tax : The Tribunal ruled that the limitation period for appeal commenced only when the assessee first received the ITBA screenshot revea...
Income Tax : The ITAT Mumbai held that notional rent cannot be taxed under “Income from Other Sources” without evidence that such income wa...
The issue was whether commission payments were genuine business expenses. The Tribunal held that disallowance based on non-response and suspicion was not justified. The key takeaway is that conjectures cannot replace evidence in tax assessments.
The issue was denial of deduction due to delayed filing of Form 56F. ITAT held that delay is a procedural lapse and directed allowance of deduction.
The issue was denial of concessional tax regime due to incorrect ITR disclosure and alleged delay in filing Form 10-IC. The Tribunal held that due date depends on the class of assessee, not procedural lapses, and allowed Section 115BAA benefit.
ITAT Hyderabad holds that Section 249(4)(b) cannot bar appeal where no income is admitted and no advance tax is payable; sets aside dismissal and directs AO to treat demonetisation cash deposits as business turnover (if normal) and estimate income u/s 44AD instead of Section 69A addition.
The issue was whether reassessment beyond three years is valid for small additions. ITAT held that without meeting the ₹50 lakh threshold under Section 149, the notice is void.
The issue was whether donation to a political party qualified for deduction under Section 80GGC. The tribunal held the claim was not genuine and upheld disallowance due to lack of credibility.
The Tribunal noted that statements relied upon were later retracted and lacked corroboration. It held that such statements cannot form sole basis of addition. The ruling emphasizes need for supporting evidence in tax proceedings.
The tribunal held that GST, sales tax, and service tax refunds cannot be taxed where the assessee follows the exclusive accounting method and does not debit such taxes to the P&L account.
The case examined whether transfer pricing adjustments could stand when an APA covered the relevant year. The Tribunal remanded the matter for reconsideration in line with the APA framework.
ITAT Delhi held that revisionary proceedings under 263 of the Income Tax Act justifiable since related-party expenses were accepted without detailed verification. Accordingly, revision is upheld and the present appeal is dismissed.
