Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
Income Tax : Understand what belated ITR filing is in 2025, including deadlines, late fees under Section 234F, and the loss of tax benefits lik...
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 : The Court quashed criminal proceedings after finding that the petitioner had ceased to be a director before the due date for filin...
Income Tax : The Bangalore ITAT held that Section 54 relief cannot be denied when capital gains are invested in a new residential house before ...
Income Tax : The Tribunal held that entries found in third-party ERP software during a search cannot alone justify unexplained investment addit...
Income Tax : Mumbai ITAT held that no further profits can be attributed to a DAPE once the Indian agent is remunerated at arm’s length for al...
Income Tax : The Court held that rejecting condonation solely because the assessment year was not mentioned in the circular is unjustified. It ...
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...
Court rules partial co-ownership of property constitutes ownership under Section 54F, disallowing exemptions claimed on reinvested capital gains. Tribunal’s earlier allowance set aside.
The ITAT Agra set aside an ex-parte order dismissing a tax appeal, ruling that the CIT(A) must adhere to Section 250(6) by providing a reasoned order on the merits of the additions, even if the assessee is non-cooperative.
The ITAT Mumbai ruled that the power to reopen an assessment under Section 147/148 is invalid when a valid return is on record and the Assessing Officer still has time to initiate regular scrutiny under Section 143(2).
The Delhi High Court has remanded a case on late ITR filing, ruling that a 12-day delay during the COVID-19 pandemic constitutes “genuine hardship.”
Understand what belated ITR filing is in 2025, including deadlines, late fees under Section 234F, and the loss of tax benefits like old regime deductions.
The ITAT Ahmedabad ruled that the amendment to Section 80AC, requiring timely tax return filing for Chapter VIA deductions, is not applicable to Assessment Year 2017-18.
ITAT Hyderabad held that rejection of books during assessment proceedings does not retrospectively nullify the obligation to comply with section 44AB of the Income Tax Act within the prescribed time. Accordingly, penalty under section 271B upheld.
ITAT Delhi held that exemption granted to political party under section 13A denied to assessee (Indian National Congress) due to violation of 3rd proviso i.e. return of income not filed within prescribed due date. Accordingly, appeal of assessee dismissed.
ITAT Rajkot rules Section 80P deduction for co-operative societies not deniable due to belated return filing under Section 139(4), remanding cases for re-examination.
ITAT Bangalore held that once the audit report filed in form 10B to be available with the Assessing Officer before the assessment proceedings take place, the requirement of Law is satisfied. Thus, exemption under section 11 of the Income Tax Act allowed.
