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 : Learn how online gaming habits can lead to income tax scrutiny notices under Section 143(2) of the Income Tax Act, 1961. Understan...
Income Tax : Explore the implications of taxation under section 115BBE, including misuse of sections 68 to 69D, consequences of high tax rates,...
Income Tax : Ensure sufficient time for compliance with Section 143(2) notice and the mandatory issuance of valid notices under Section 142(1)(...
Income Tax : 1. What is Sec 143(2)? Where a return has been furnished u/s 139, or in response to a notice 142(1), the Assessing Officer (AO) ...
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 : ITAT Mumbai held that penalty u/s. 271(1)(c) of the Income Tax Act not imposable in absence of wilful intention on the part of the...
Income Tax : ITAT Pune remands the case of Suhas Maruti Dhankude for re-adjudication due to non-adjudication of jurisdictional grounds and fail...
Income Tax : ITAT Pune held that the DTAA does not get triggered at all when a domestic company pays DDT u/s. 115O of the Income Tax Act. In nu...
Income Tax : ITAT Ahmedabad held that addition u/s. 68 on account of unexplained cash credit, being bogus unsecured loan, and u/s. 69C on accou...
Income Tax : ITAT Bangalore held that imposition of penalty under section 271D of the Income Tax Act unwarranted as reasonable cause shown for ...
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...
In Completed/Unabated Assessments, AO Cannot Make Additions in Absence of Incriminating Material Found during Section 132 or 132A Search
Read the full text of the ITAT Delhi order on the case of AAA Teleshopping Pvt. Ltd vs. ACIT for assessment year 2011-12, with detailed analysis and conclusions.
Gujarat High Court held that reopening of assessment under section 147 of the Income Tax Act merely based on ‘borrowed satisfaction’ as against statutory requirement of ‘independent satisfaction’ is bad-in-law.
Gujarat High Court held that Challenge to notice issued under section 154 of the Income Tax Act is maintainable under Article 226 of the Constitution of India.
ITAT Surat held that addition under section 68 of the Income Tax Act towards unexplained cash credit unjustified as creditworthiness of the loan giver established and transaction undertaken through banking channel.
Discover the ITAT Delhi’s ruling on the issuance of DIN numbers on tax communications and its importance in ensuring their validity.
ITAT Surat held that AO cannot go beyond reason for which matter was selected for limited scrutiny. Thus, PCIT cannot pass revisionary order u/s. 263 of the Income Tax Act on other aspects outside the scope of limited scrutiny.
ITAT Raipur held that ad-hoc disallowance of expenditure without specifying expenditure which was either not incurred for the purpose of business or was not substantiated by documentary evidence/material is unsustainable in law.
ITAT Kolkata held that invocation of revisionary power u/s 263 of the Income Tax Act without pointing out the error committed by AO and without recording a finding regarding escapement of income is unsustainable in law.
ITAT Kolkata held that as per provisions of section 23(1)(c) the annual lettable value of the vacant property of unsold units/flats held as stock-in-trade by the assessee but remained vacant during the year is to be computed at Rs. NIL.
