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...
Explore the TVS Srichakra Limited vs. DCIT case at ITAT Chennai, where failure to file Form 10CCB results in disallowance of deduction under Section 80IC. Read the detailed analysis and conclusion.
ITAT Raipur held that delayed deposit of employees share of contribution towards ESI/PF for A.Y. 2018-19 allowed as deduction.
Explore Geopreneur Realty Private Limited vs Union of India in Bombay High Court. Analysis of the notice under Section 148, reasons for reopening, and the court’s stance on change of opinion in income tax assessments.
Delhi High Court rules in PCIT vs Mohak Real Estate Pvt Ltd case that inadequate enquiry alone doesn’t warrant invoking Section 263 of Income Tax Act.
Explore the ITAT Mumbai order in Ankur Power Projects vs ITO. Learn why reassessment proceedings were quashed due to non-application of mind by the AO. Full text available.
ITAT Mumbai held revisionary order under section 263 of the Income Tax Act to be proper and just as assessment was completed in a routine and mechanical manner without due diligence and without due application of mind.
ITAT Delhi held that punitive damage being allowed as negative restitution cannot be allowed as business expenditure under section 37(1) of the Income Tax Act
ITAT Mumbai held that the assessee has not discharged its onus to satisfactorily prove the incurring of expenditure for running the alleged Hotel Management Business. Thus, in absence of satisfactory documentary evidence, addition u/s. 68 of entire turnover disclosed as hotel management business sustained.
HC establishes a precedent reinforcing principle that reassessment must be based on new and substantive grounds, preventing arbitrary or unfounded reopening of assessments.
Explore the ITAT Mumbai’s remand of Nitin Amratlal Brahmbhatt’s case against ACIT-24(3) on the assessment order under Income Tax Act. Fair opportunity of hearing mandated.
