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 : Discover how to file a revised income tax return for A.Y. 2023-24 under Section 139(5). Learn who can file, the process, and key d...
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 : Missed the income tax return filing deadline? Dont worry, you can still file your return for FY 2021-22 (AY 2022-23) by 31st Decem...
Income Tax : The banks have almost reported wrong information to the department. The interest reported is twice/thrice than interest shown by t...
Income Tax : Section 139(5) - Reduction in time limit for filing revised return - Retention of existing time limit for filing of revised tax re...
Income Tax : On appeal. It was held that application for refund was rightly rejected, as it was filed beyond the prescribed limitation period o...
Income Tax : Petitioner No.1 is a society registered under the Societies Registration Act of 1860 and the Bombay Public Trusts Act of 1950. It ...
Income Tax : ITAT Delhi remanded the issue back to file of AO to re-compute disallowance under rule 8D(2)(ii) of the Income Tax Act by taking t...
Income Tax : ITAT Surat held that rejection of the application for condonation of delay in filing refund claim u/s 119(2)(b) of the Act is not ...
Income Tax : ITAT Mumbai held that additional claim of deduction of bad debts under section 36(1)(vii) of the Income Tax Act filed during the c...
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...
Supreme Court rules ITAT cannot direct AO to consider new claims barred by time, reaffirming ITAT’s plenary powers under Section 254 of the Income Tax Act.
ITAT Bangalore directed authorities not to dismiss rectification application u/s. 154 on the ground of limitation as the assessee was erroneously misled to deposit taxes and it is settled law that no tax can be collected without authority of law.
Assessee filed his original income tax return on 31-08-2019 and revised the return on 19-06-2020. He submitted Form 67 to claim the foreign tax credit but AO denied the FTC claim due to the late filing of Form 67.
ITAT Raipur held that CIT(A) deleted the addition towards unexplained cash under section 68 of the Income Tax Act without proper verification of the facts and evidences and thus the matter restored back to the file of AO for adequate verifications.
Bombay HC dismisses Revenue’s appeal in PCIT Vs Timblo Private Limited, stating additions based on seized diary without corroborative evidence are unsustainable.
Detailed analysis of the appeal against a penalty imposed under Section 271B of the Income Tax Act by the ITAT Delhi in the case of Sanjeev Kumar Goyal vs ITO, including the reasons for the penalty dismissal.
Understand Section 139 of the Income Tax Act, its implications on return filing due dates, and the changes for FY 2023-24. Learn about new dates, old regime, and key considerations.
ITAT Mumbai held that the expenses excluded from the export turnover have to be excluded from the total turnover as well while computing deduction u/s 10A of the Income Tax Act.
Read the detailed analysis of Fortune Park Hotels Ltd vs. ACIT case where ITAT Delhi allowed deduction of ESOP expenses claimed within the prescribed time limit.
Understand the concept of Updated Return under the Income-tax Act, its necessity, tax implications, and filing process. Get insights for timely compliance.
