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 : Article discusses about Order which can be rectified under section 154 of Income Tax Act, 1961, Rectification of Income Tax order ...
Income Tax : Explore the implications of taxation under section 115BBE, including misuse of sections 68 to 69D, consequences of high tax rates,...
Income Tax : Every taxpayer has to furnish the details of his income to the Income-tax Department. These details are to be furnished by filing ...
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 : 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 : Read the detailed judgment of Bombay High Court in ACIT Vs Sociedade de Fomento Industrial Pvt Ltd regarding TDS deduction on retr...
Income Tax : Read the detailed analysis of ITAT Chennai's decision on penalties under sections 269SS and 269T for Pearl Beach Promoters P. Ltd....
Income Tax : Read the full text of the ITAT Delhi order on Sec 56(2)(viib) and its implications for premium amounts on shares issued to holding...
Income Tax : Gujarat High Court quashes Income Tax reassessment notice against Deepak Natvarlal Pankhiyani HUF, citing lack of fresh evidence s...
Income Tax : PCIT Vs Farmson Pharmaceuticals Gujarat Pvt Ltd (Gujarat High Court): Reassessment cannot be solely based on a reevaluation of exi...
Income Tax : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
The issue under consideration is whether CIT(A) is correct in holding that the appellant is not a state under Article 289 of the Constitution of India and therefore, liable to tax under the Income Tax Act?
The issue under consideration is whether A.O. is correct in issuing Notice under section 147 for re-opening of assessment irrespective of the fact that the material on which he relied is already present in front of him at the time of assessment u/s 143(3)?
The issue under consideration is whether industrial Promotion Assistance (IPA) received by the assessee-Company from the West Bengal Government is taxable under income tax?
The issue under consideration is whether CIT(A) is correct by annulling the assessment order on the ground that no notice under section 143(2) was issued before the completion of assessment?
These days people are getting different types of notices/intimations from the Income Tax department by different modes such as delivery by post or by an e-mail. This article aims to highlight the different situations in which income tax notices can be received and how to respond to those notices if anyone receives the same.
Issues have been examined by the A.O and just because the opinion as arrived by the A.O is at a variation of the opinion of the learned Pr. CIT, would not grant the learned Pr. CIT the powers of revision u/s 263 of the Act.
Existence of reasons for escapement of income are sine qua non to embark upon the assessment or reassessment u/s 147 of the Act. Change or no change of opinion, as argued by the ld. DR, are the factors to be considered after fulfilling the jurisdictional condition of there being an escapement of income, in the absence of which no assessment or reassessment can be made u/s 147.
If you are thinking of seeking rectification of the intimation issued by Centralized Processing Center at Bangalore, then you must carefully review the Common Error Guide and the typical causes of error presented below in order to prepare an accurate
The issue under consideration is whether deduction under section 80IAB will be allowed against the income of lease/ rental income from development of SEZ irrespective of wrong classification of head of income.
Chordia Buildcon Pvt. Ltd. Vs DCIT (ITAT Jaipur) The issue under consideration is whether the action taken by the AO u/s 147 r.w.s 148 is justified in law? The case of assessee was originally selected for scrutiny and a detailed questionnarie was issued alongwith notice u/s 142(1). The AO asked specific queries with regard to […]
