Income Tax : Discover pivotal case of Uttrakhand Poorv Sainik Kalyan Nigam Ltd. vs ITO, where ITAT Dehradun established that Section 142(1) and...
Income Tax : Finance Act, 2023 introduced amendments to Section 142(2A) of the Income Tax Act, 1961. This article provides an overview and anal...
Income Tax : Understand the implications of Income Tax Act Sections 142 and 142A, covering notices to submit returns, making inquiries, and pro...
Income Tax : Explore the nuances of Income Tax Notices under Section 142(1) of the Income Tax Act, 1961. Learn when these notices are issued, h...
Income Tax : Budget 2021- Allowing prescribed authority to issue notice under clause (i) of sub-section (1) of section 142 Section 142 of the A...
Income Tax : Oracle India has approached Delhi High Court challenging the order of the government which had asked it to undertake a special aud...
Income Tax : Sub-sections (2A) to (2D) of section 142 deal with power of Assessing Officer to order a special audit. Such power is required to ...
Income Tax : Rajasthan HC rules that using the Insight Portal for reopening income tax assessments under Section 148 is valid. Learn about Chat...
Income Tax : ITAT Mumbai invalidates income tax assessment for a merged entity, emphasizing the legal principle against actions on non-existent...
Income Tax : Assessee was a commercial bank having its head office in France and had 8 branches in India. Assessee was involved in normal banki...
Income Tax : ITAT Ahmedabad rules against reopening of assessment for protective addition when based on assumptions, deleting the addition. Rea...
Income Tax : Bombay High Court rules IT search under Section 132 invalid if authorization is based on irrelevant and unrelated material. Detail...
Income Tax : CBDT hereby authorises the Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (NaFAC) having her / his headqua...
Income Tax : It has also been brought to notice of the Board that in some cases, the address of transacting parties given in AIRs is not comple...
ITAT Mumbai held that action of Pr. CIT invoking jurisdiction u/s 263 of the Income Tax Act unjustified as order passed by the A.O. does not satisfy the twin conditions of erroneous and prejudicial to the interest of the revenue.
ITAT Delhi held that the deduction u/s 36(1)(va) of the Income Tax Act can be allowed only if the employees’ share in the provident fund and ESI fund is deposited by the employer before the due date stipulated in respective Acts.
ITAT Jodhpur held that penalty under section 271(1)(b) of the Income Tax Act not imposable for non-compliance of section 142(1) of the Income Tax Act.
Understand the implications of Income Tax Act Sections 142 and 142A, covering notices to submit returns, making inquiries, and providing opportunities to assesses. Learn about directions for audits and consequences of non-compliance. Stay informed to ensure tax compliance.
Explore the nuances of Income Tax Notices under Section 142(1) of the Income Tax Act, 1961. Learn when these notices are issued, how to deal with them, and the potential penalties for non-compliance. Stay informed about the procedures to follow and ensure greater tax compliance.
CBDT hereby authorises the Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (NaFAC) having her / his headquarters at Delhi, to act as the ‘Prescribed Income-tax Authority’ for the purpose of sub-section (2) of section 143 of the Act, in respect of returns furnished under section 139
Budget 2021- Allowing prescribed authority to issue notice under clause (i) of sub-section (1) of section 142 Section 142 of the Act provides for conduct of inquiry before assessment. Clause (i) of sub section (1) of the said section gives the Assessing Officer the authority to issue notice to an assessee, who has not submitted […]
1) Rationale behind introduction of Section 142 in the Act: ♦ Assessee fails to file the ROI within due date u/s 139(1) is expose to risk of Best Judgment Assessment us 144 of the Act. ♦ It would be unfair for him if after the due date revenue directly proceed for assessment us 144 without […]
whether the AO can expand the assessment from ‘Limited Scrutiny’ to ‘Complete Scrutiny’ without following the procedure as laid by the CBDT Circular?
ACIT Vs Padma Logistics & Khanij Pvt. Ltd (Madras High Court) The issue under consideration is whether the set off of brought forward losses and unabsorbed depreciation of merged division in revised return is justified in law? In present case, the assessee Company had filed the original return of income on 28.09.2010 showing total income […]
