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 Ahmedabad held that invocation of section 263 of the Income Tax Act for issue of delayed payment of employees’ contribution to PF/ESIC justifiable as AO’s failure to examine has rendered assessment order erroneous and prejudicial to interest of revenue.
ITAT Ahmedabad held that disallowance u/s. 36(1)(iii) of the Income Tax Act unjustified as interest-free funds exceeds loan to the subsidiary and loan was advanced for commercial expediency.
ITAT Ahmedabad held that the agricultural nature of the land at the time of sale is determinative, regardless of the buyer’s intended use. Thus, land sold was agricultural land and hence doesn’t attract capital gain.
CBDT had issued instructions/notification for examining the specific cases regarding cash deposits during the demonetisation period. However, both the lower authorities had not done so and therefore, the matter was remanded for re-examination.
ITAT Bangalore held that the addition of provision of bad and doubtful debts as per P&L account to determine the book profits u/s. 115JB of the act is not warranted as actual write off would not be hit by clause (i) of explanation to section 115JB.
ITAT Delhi restored Fiserv India’s appeal, citing CIT(A)’s failure to address adjournment requests. The case will be reconsidered for a fair hearing and review.
ITAT remands Ganpat Vidhyanagar Uma Parivar Trust’s case to JAO for reconsideration after CIT(E) condones delay in filing Forms 10B and 9A.
ITAT Delhi held that penalty under section 270A of the Income Tax Act not leviable since income assessed and income processed are same. Accordingly, in absence of under reporting of income, no penalty can be levied.
Bombay High Court held that entire process of according sanction under section 151 of the Income Tax Act for initiation of reassessment granted in a mechanical manner without application of mind is unjustified and hence reassessment proceedings quashed.
Delhi High Court held that passing of a draft assessment order as mandated under section 144C of the Income Tax Act is mandatory prior to passing of final assessment order. Accordingly, order liable to be set aside.
