Income Tax : ITAT Mumbai invalidates reassessment against Shah Rukh Khan for FY 2012-13, addressing foreign tax credit claims and procedural fl...
Income Tax : India's Income Tax Department shifts to a taxpayer-friendly approach, prioritizing silent recoveries, refund adjustments, and redu...
Income Tax : Budget 2025 revises block assessment rules for search cases, covering undisclosed income, assessment procedures, penalties, and ti...
Income Tax : Scrutiny assessment which is mainly governed by Section 143 of IT Act is in-depth process used by tax officers to ensure accuracy ...
Income Tax : In the alternate, assessee has also raised a ground that Assessing Officer ought to have allowed the expenditure incurred in culti...
Income Tax : It has been observed that in many cases an assessee may wish to make a claim which was not made in the return of income filed unde...
Income Tax : We have attached a file in excel format. The file contains the format of various details which normally assessing officer asks As...
Income Tax : ITAT Cochin restores addition on demonetisation-era jewellery sales to CIT(A) for re-adjudication, citing violation of natural jus...
Income Tax : Delhi High Court sets aside reassessment for AY 2006-07, ruling JCIT lacked power to sanction Section 148 notice after 4 years; CC...
Income Tax : ITAT Delhi held that incentives in the form of excise duty refund, sales tax remission, sales/ VAT input tax refund received under...
Income Tax : Delhi High Court held that delay in filing Form 10B is condonable since genuine hardship is faced by the petitioner and there is s...
Income Tax : ITAT Delhi held GoDaddy's income from domain registration, hosting, and other services not taxable as royalty or FTS under the Inc...
Income Tax : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
ITAT Cochin restores addition on demonetisation-era jewellery sales to CIT(A) for re-adjudication, citing violation of natural justice in ex parte order.
Delhi High Court sets aside reassessment for AY 2006-07, ruling JCIT lacked power to sanction Section 148 notice after 4 years; CCIT/CIT approval required.
ITAT Delhi held that incentives in the form of excise duty refund, sales tax remission, sales/ VAT input tax refund received under the Incentive Scheme are capital receipts and hence not chargeable to income tax. Accordingly, ground of the assessee allowed.
Delhi High Court held that delay in filing Form 10B is condonable since genuine hardship is faced by the petitioner and there is sufficient material on record proving the same. Accordingly, writ disposed of.
ITAT Delhi held GoDaddy’s income from domain registration, hosting, and other services not taxable as royalty or FTS under the Income Tax Act or India-USA DTAA.
ITAT Delhi held that disallowance of share premium under section 56(2)(viib) of the Income Tax Act not sustainable since shares are allotted to an existing shareholder and hence creditworthiness cannot be doubted. Accordingly, appeal of revenue dismissed.
ITAT Ahmedabad held that weighted deduction under section 35(1)(ii) of the Income Tax Act rightly disallowed as donation is given to Arvindo Institute of Applied Scientific Research Trust who doesn’t have valid registration. Accordingly, appeal of assessee dismissed.
ITAT Delhi ruled an income tax assessment invalid, quashing the order. The assessment was completed by an officer lacking jurisdiction without a valid Section 127 transfer order.
Assessee, i.e., the father of the minor, Mr. Yogesh Mafatlal Bhansali had originally filed his income tax return declaring a total income of ₹2,71,630, which was accepted after a limited scrutiny assessment under Section 143(3).
Patna High Court held that notice must be supported by reasons. Accordingly, since notice issued under section 148 of the Income Tax Act is not supported by reasons the same is liable to be quashed. Thus, writ petition stand allowed.
