Income Tax : Understand tax implications for selling a flat pre-2001 and rectify defects in your tax return with expert advice....
Income Tax : Defective ITR not rectified within time is treated as invalid. Filing a new belated return or seeking condonation can avoid penalt...
Income Tax : Learn how to respond to a defective return notice under Section 139(9) of the Income Tax Act. Steps for correction and consequence...
Income Tax : Received a notice U/s 139(9) for defective return? Learn why it happens, how to respond, and the consequences of ignoring it. Stay...
Income Tax : Learn what happens if your income tax return is deemed defective and how to rectify it. Understand Section 139(9) and your options...
Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...
Income Tax : The issue was whether the income-tax e-filing utility could prevent an assessee from making a lawful set-off claim. The High Court...
Income Tax : The Court held that Section 44AF, as a special provision, overrides the requirements of Section 139(9). It ruled that treating the...
Income Tax : The Tribunal held that a 143(1)(a) adjustment denying ₹5.05 crore TDS credit was invalid because no mandatory show-cause intimat...
Income Tax : The ITAT Agra dismissed the Revenue's appeal against the deletion of a ₹2.35 crore unexplained cash credit under Section 68, agr...
Income Tax : The ITAT ruled that a cash deposit addition under 69A of the Income Tax Act cannot stand if the source is accepted as business tur...
The issue was whether the income-tax e-filing utility could prevent an assessee from making a lawful set-off claim. The High Court held that procedural software cannot override statutory rights and directed that such claims must be allowed.
The Court held that Section 44AF, as a special provision, overrides the requirements of Section 139(9). It ruled that treating the return as defective was unjustified and directed issuance of the refund.
The Tribunal held that a 143(1)(a) adjustment denying ₹5.05 crore TDS credit was invalid because no mandatory show-cause intimation was issued. It ruled that a 139(9) defect notice cannot substitute the statutory opportunity required under 143(1), resulting in deletion of the entire ₹5.73 crore demand.
The ITAT Agra dismissed the Revenue’s appeal against the deletion of a ₹2.35 crore unexplained cash credit under Section 68, agreeing that the amount was a closing balance from prior, assessed years. The ruling established that the taxpayer’s savings and financial reconciliation, supported by earlier ITRs, were sufficient evidence against the addition.
The ITAT ruled that a cash deposit addition under 69A of the Income Tax Act cannot stand if the source is accepted as business turnover and presumptive profit under Sec.44AD is declared. The tribunal accepted the taxpayers explanation of cash deposits from mobile phone sales, linking them to credit card purchases, but directed an 8% profit rate be applied to the turnover.
The ITAT Pune restores a case for fresh assessment after an updated tax return was filed with errors by a consultant, ruling that a taxpayer cannot be taxed on income they did not earn.
Delhi High Court rules that a tax refund cannot be denied for a TDS mismatch if the assessee timely filed a revised return, and revenue neither rejected it nor communicated defects.
ITAT Ahmedabad held that addition towards accommodation entries of bogus LTCG cannot be sustained in absence of any iota of tangible perceptible evidence. Accordingly, appeal allowed and addition set aside.
ITAT Raipur held that denial of TDS claimed based on difference between gross turnover as per 26AS and total receipts reflected in returns, without verifying reconciliation prepared by assessee, is not justified. Hence, matter restored to CIT(A).
Gujarat High Court held that issuance of notice u/s. 143(2) of the Income Tax Act, after six months from the end of financial year in which return u/s. 139(1) was filed, is barred by limitation and cannot be sustained.
