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 Bangalore held that additions made in an intimation under Section 143(1) cannot be disputed in an appeal against a scrutiny a...
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 : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
ITAT Raipur held that assessment framed under section 144 of the Income Tax Act by Additional CIT in absence of order under section 127 and order under section 120(4)(b) is invalid as without having valid assumption of jurisdiction.
ITAT Mumbai held that interest on advance given to entity how became Non Performing Asset (NPA) cannot be brought to tax since the income is really not accrued to the assessee. Accordingly, addition is rightly deleted by CIT(A).
Calcutta High Court held that reopening of assessment u/s. 147 for claim of bogus capital gain sustained fundamentals of company are very weak and abnormal price rise in share is artificially manipulated.
ITAT Mumbai held that no disallowance u/s. 14A of the Income Tax Act r.w.r. 8D(2)(ii) due to availability of sufficient interest free funds for the purpose of making investment in exempt income yielding assets.
Gujarat High Court held that Revisional authority ought to have taken into consideration that AO has to pass best judgement assessment order without granting an opportunity of being heard. Thus, matter remanded back to AO for de novo consideration.
ITAT Mumbai held that the view taken by AO was a plausible view and the same cannot be subjected to revision under Section 263 of the Act merely for the reasons that PCIT does not agree with the same. Accordingly, appeal of assessee allowed.
ITAT Delhi dismissed revenue appeals against Jindal Pipes Ltd., upholding deletion of disallowances on technical know-how fees and captive power expenses and restricting Section 14A disallowance.
ITAT Surat condones a 1740-day delay in Chirag P. Thummar’s penalty appeal, citing advocate’s mistaken advice and the Supreme Court’s COVID-19 extension. Case remanded to PCIT for fresh adjudication on merits due to an ex-parte order.
ITAT Chandigarh condones delay and remands Mukesh Mittal’s penalty appeals back to CIT(A), citing a prior ITAT order that accepted similar delay in quantum appeals. Case to be re-decided on merits.
ITAT Delhi held that software expense has not given any benefit of enduring nature and hence the same is not capital in nature. Accordingly, software expense allowed as revenue expenditure.
