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 : 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 : Assessee was engaged in diamond manufacturing, trading, and windmill power generation, had claimed deductions under sections 35DD ...
Income Tax : ITAT Raipur order on Rajesh Kumar Tiwari vs ITO. ITAT sets aside Income Tax reassessment completed without providing fair & reason...
Income Tax : Read the detailed analysis of Karrm Infrastructure Pvt. Ltd. vs. CIT at ITAT Mumbai. Learn why ITAT ruled that non-filing of GST b...
Income Tax : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
ITAT Kolkata held that for determining fair and true profit for the purpose of application of Transactional Net Margin Method (TNMM), it is appropriate that the effect of depreciation must be excluded.
ITAT Mumbai held that assessee was residing as well as carrying on her profession at Bangalore and thus, assumption of jurisdiction by the AO at Mumbai was invalid. Thus, an order which is passed without jurisdiction is non est in the eyes of law.
ITAT Delhi held that PCIT cannot assume revisional jurisdiction under section 263 of the Income Tax Act when in case of debatable issue, out of the two possible views, AO accepts one of the views.
ITAT Delhi allowed the Section 80IA deduction for Celebi Delhi Cargo Terminal Management India Pvt. Ltd. as it was previously allowed in earlier years and consistent decisions were made in favor of the deduction for the same activity.
ITAT Chennai held that transfer pricing adjustment towards brand development services unjustified in absence of contract amongst the assessee and its associated enterprises. Accordingly, AO directed to delete addition made towards brand fee adjustment.
ITAT Kolkata held that addition u/s. 68 of the Income Tax Act towards unexplained share application money is unsustainable as assessee has successfully discharged the burden of proof primarily casted upon it, however, AO failed to conduct independent inquires.
In the case of ACIT Vs Aaryavart Infrastructure Pvt. Ltd., the Income Tax Appellate Tribunal (ITAT) Ahmedabad ruled that mere maintenance of a bank account with a social co-operative bank cannot be a basis for assuming that the assessee is engaged in accommodation entries. Get insights into the case and the tribunal’s decision.
ITAT Delhi in Feather Infotech Pvt. Ltd. Vs DCIT held that Section 68 is inapplicable to expenditure as same applies to credit in books of account
Analysis of Bombay High Court’s ruling in CCIT(OSD)/PCIT Vs Bhupendra Champaklal Dalal regarding presumption of interest-free usage of funds when interest-free and interest-bearing funds are mixed
Kolkata ITAT remits case of Dahisar Traders Pvt Ltd vs ITO due to failure in substantiating identity & fund source, demanding re-adjudication. Full order details.
