Income Tax : Learn about common income tax notices for salaried individuals, their implications, and steps to handle them effectively. Avoid le...
Income Tax : Supreme Court disallows ₹10 crore bad debt deduction for Khyati Realtors Pvt Ltd, ruling it as capital expenditure, not eligible...
Income Tax : Learn about rectifying mistakes in income tax orders under Section 154, including types of rectifiable orders, responsible authori...
Income Tax : Learn about the Faceless Income-Tax Proceedings, including e-Proceedings features, differences from manual assessments, and how to...
Income Tax : Understand the implications of receiving a notice under Section 143(2) of the Income Tax Act. Learn how to respond, time limits, a...
Income Tax : Read how Income Tax Gazetted Officers’ Association addresses last-minute case reallocations affecting timely issuance of notices...
Income Tax : The Supreme Court has ruled that it is mandatory for the Income Tax Department to issue notice within the prescribed time limit of...
Income Tax : Calcutta High Court rules notice is mandatory under Section 154(3) of the Income Tax Act before amending an assessment to reduce a...
Income Tax : ITAT Ahmedabad rejects revenue's objection on additional evidence, affirming CIT(A) acted within Section 250(4) powers, deleting a...
Corporate Law : NCLAT Delhi held that demand notice issued u/s. 95(4) of the Insolvency and Bankruptcy Code, 2016 [IBC] when sent to last known ad...
Income Tax : ITAT Raipur held that addition towards cash deposited during demonization period partly set aside based on CBDT Instruction No. 03...
Income Tax : ITAT Chennai held that cash sales of liquor is the source of cash deposit during demonetization and accordingly, since the nature ...
Income Tax : Understand the guidelines set by the Indian Ministry of Finance for the compulsory selection of returns for complete scrutiny duri...
Income Tax : CBDT hereby authorises the Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (NaFAC) having her / his headqua...
Income Tax : The three formats of notice(s) are: Limited Scrutiny (Computer Aided Scrutiny Selection}, Complete Scrutiny (Computer Aided Scruti...
Income Tax : Central Board of Direct Taxes, with approval of the Revenue Secretary, has decided to modify notice under section 143(2) of the In...
Income Tax : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
Calcutta High Court rules notice is mandatory under Section 154(3) of the Income Tax Act before amending an assessment to reduce a refund. Arun Kumar Bose Vs ITO case.
ITAT Ahmedabad rejects revenue’s objection on additional evidence, affirming CIT(A) acted within Section 250(4) powers, deleting ad-hoc disallowance.
NCLAT Delhi held that demand notice issued u/s. 95(4) of the Insolvency and Bankruptcy Code, 2016 [IBC] when sent to last known address as stipulated in Guarantee Deed is valid service of notice under established legal principles. Accordingly, appeals dismissed.
ITAT Raipur held that addition towards cash deposited during demonization period partly set aside based on CBDT Instruction No. 03/2017 dated 21.02.2017. Accordingly, appeal of assessee partly allowed.
ITAT Chennai held that cash sales of liquor is the source of cash deposit during demonetization and accordingly, since the nature and source of investment fully explained by the assessee, addition u/s. 69 of 69A not justifiable.
ITAT Pune allows 80P(2)(d) deduction for cooperative society’s interest income from cooperative bank investments.
ITAT Indore held that addition under section 68 of the Income Tax Act, after rejection of books of accounts under section 145, by the AO is not justifiable in law. Accordingly, AO is directed to delete the addition.
The assessee is a limited company engaged in the business of Unit manufacturing homogenized and pasteurized milk and manufacturing of milk products like Ghee Butter, milk powder and other milk products.
The entire procedure subsequent to obtaining further information, documents or evidence has not been gone through in case of the Petitioner, and straightaway, the impugned assessment has been finalized.
ITAT Nagpur held that addition made on the basis of dumb documents, loose paper containing scribbling, rough/vague noting’s in the absence of any corroborative material is not tenable in law. Thus, appeal of revenue dismissed.
