Income Tax : ITAT Bangalore held that disallowance of agricultural expenses based on estimation is unsustainable without concrete evidence, rul...
Income Tax : Understand Section 139 of the Income Tax Act, its implications on return filing due dates, and the changes for FY 2023-24. Learn a...
Income Tax : Understand the concept of Updated Return under the Income-tax Act, its necessity, tax implications, and filing process. Get insigh...
Income Tax : Article explains What is Belated Return, limitations of filing Belated application, consequences when submitting Belated return an...
Income Tax : The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an a...
Income Tax : ITAT Agra held that merely uploading of the communication in the Income Tax department e-portal is not sufficient mode of communic...
Income Tax : ITAT Agra held that ex-parte dismissal of appeal, as notices issued by CIT(A) were not compiled, without adjudicating issues on me...
Income Tax : Although Rule 128(9) requires Form 67, assessee’s compliance within this rule during the rectification stage demonstrated a good...
Income Tax : ITAT Hyderabad condoned delay of nearly a decade in filing of an appeal since tax liability was fastened on the assessee without a...
Income Tax : Madras High Court held that delay in filing returns of income and seeking refund thereof is condoned in terms coverage within the ...
Income Tax : The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of s...
Income Tax : CBDT hereby authorises the Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (NaFAC) having her / his headqua...
Deduction under section 80IB (10) was allowable to assessee as it had a reasonable & bona fide cause for not filing the return of income within the time permitted under Section 139(1). Once in the given facts, assessee had been held entitled to claim the specifically computed deductions, then it should not be burdened with taxes which it was otherwise not liable to pay under law.
Article explains What is Belated Return, limitations of filing Belated application, consequences when submitting Belated return and Steps to file Belated Return
ITAT Pune restored the matter back to the file of AO for examining the claim of Foreign Tax Credit of the assessee vis-à-vis furnishing of the Certificate or Statement as per Rule 128(8)(ii) along with Form No. 67.
The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an appeal to the Commissioner of Income-tax (Appeals), deposit of tax on distributed profits of domestic companies, filing return of income, filing belated return of income, etc.).
ITAT Chennai restores the matter of Salma Ahmed’s capital gain deduction under section 54F to CIT(E) due to inadequate details provision by the assessee.
Requirement to deposit net consideration as per Section 54F(4) not attracted if assessee has purchased a new residential house within due date specified under Section 139(4)
ITAT Kolkata held that in respect of any adjustment proposed to be made u/s 143(1)(a), a prior intimation is required to be served on the assesse. Failure to issue such prior intimation to the assessee before making an adjustment by way of disallowing the claim of exemption u/s. 11 of the Act is unjustified.
Insightful analysis of the ITAT Mumbai ruling in the case of Qayum Ismail Mukaddam Vs CIT, where the applicability of changes in sec 139(4) & 139(5) by Finance Act 2016 is discussed.
ITAT Raipur held that exemption under section 11 of the Income Tax Act duly denied to trust as audit report in Form 10B e-filed/ uploaded beyond the date specified u/s 139 of the Income Tax Act.
ITAT Bangalore held that charging the income tax on the entire gross receipts without giving effect of the expenditures incurred by the assessee towards earning of the income.
