Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
Income Tax : Understand the statutory time limits for issuing income-tax notices and completing assessments under the Income-tax Act. The guide...
Income Tax : Learn the updated provisions governing rectification, assessments, reassessments, and appeals under the Income-tax Act. This guide...
Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
Income Tax : Section 154 permits rectification of mistakes apparent from the record in assessment orders, intimations, and TDS/TCS processing s...
Income Tax : Delhi ITAT allows Sanco Holding, a Norwegian company, to compute income from bareboat charter of seismic vessels under Article 21(...
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 Delhi held legal services are not FTS under Section 9(1)(vii) and directed partner-wise DTAA examination. FTS addition was de...
Income Tax : ITAT Mumbai deleted a Section 69 addition after finding documentary evidence established joint ownership, source of funds, and ear...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : ITAT Surat held that delayed filing of Form 10B is a procedural lapse and remanded the matter after directing the AO to consider t...
Income Tax : ITAT Delhi held that interest and dividend earned from co-operative banks qualify for deduction under Section 80P(2)(d). Totgar's ...
Income Tax : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
A belated filing of Form 3CLA was a curable procedural defect and could not deprive an assessee of weighted deduction under section 35(2AB) where the substantive conditions for allowance of the deduction stand fulfilled.
The Cochin Bench held that the minimum one-acre condition must be satisfied by the land comprising the approved housing project itself. It ruled that unrelated land or structures cannot be included to claim deduction under Section 80-IB(10).
ITAT Kolkata held that once a scrutiny notice under Section 143(2) is issued, CPC cannot process the return under Section 143(1) and quashed the intimation.
The ITAT Kolkata held that the reassessment was invalid because the statutory notice under Section 143(2) was issued by an Assessing Officer lacking pecuniary jurisdiction. Having quashed the reassessment on jurisdictional grounds, the Tribunal did not examine the merits of the Section 68 addition.
The ITAT Delhi held that dumpers used in manufacturing and mining operations are part of plant and machinery and qualify for additional depreciation under Section 32(1)(iia). It ruled that actual use, and not merely road-going capability, determines eligibility.
ITAT Delhi held that a reassessment initiated by an Assessing Officer without pecuniary jurisdiction under CBDT Instruction No. 1/2011 is invalid. The Tribunal quashed the reassessment and dismissed the Revenues appeal.
The ITAT held that reassessment was invalid because the Assessing Officer did not dispose of the assessee’s objections through a separate speaking order before completing reassessment. The Tribunal quashed the reassessment following the principles laid down in GKN Driveshafts.
The dispute concerned deduction of CSR expenditure incurred before Explanation 2 to section 37(1) became applicable. The ITAT held that the contribution, made under Ministry of Shipping guidelines, was allowable for AY 2012-13. The decision emphasised that the statutory bar introduced from AY 2015-16 could not be applied retrospectively.
The ITAT held that relying on tally data and a forensic report without providing them to the assessee violated principles of natural justice. The matter was remanded to the Assessing Officer while retaining the commission rate at 0.15%.
The Tribunal held that transfer pricing adjustments must be based on international transactions and not entity-level figures. It remanded the matter after finding errors in the computation of the arm’s length price.
