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...
The tribunal ruled that remuneration paid to a working partner cannot be disallowed when the partnership deed authorizes such payment and the amount is within limits prescribed under Section 40(b).
The Tribunal held that AMC services involving indeterminate acts over a defined period must follow the straight-line method under Section 43CB. The addition of ₹4.26 crore towards AMC receipts was therefore deleted.
The High Court set aside a tax demand issued under Section 156 because it was not based on any assessment or reassessment order. The ruling held that a demand notice cannot exist without a prior order determining tax liability.
The ITAT Mumbai held that when stamp duty value is disputed, the Assessing Officer should refer the property to the Departmental Valuation Officer. The matter was remanded for fresh assessment.
The ITAT held that the Assessing Officer erred in adding corpus donations to annual receipts to deny exemption under Section 10(23C)(iiiad). Recognizing such donations as capital receipts, the Tribunal restored the tax exemption.
Gujarat High Court quashed reassessment proceedings after finding that deduction claim under section 35(2AB) had already been examined during original scrutiny assessment. Reopening based on same material was held to be a change of opinion and therefore invalid.
The Calcutta High Court declined to interfere with an income tax assessment order, holding that writ jurisdiction should not be exercised when a statutory appeal remedy is available. The Court directed the assessee to pursue the appellate process.
The Court held that merely earning higher profits by related concerns does not establish diversion of trust funds. Without evidence of undue benefit to specified persons, Section 13(1)(c) cannot be invoked.
The Tribunal noted that the assessment proceedings were conducted during the COVID-19 pandemic and the assessee could not respond to certain notices. The case was restored for reconsideration after giving adequate opportunity.
The ITAT held that provision for dealer incentives under a sales promotion scheme was based on a scientific method and not a contingent liability. The disallowance made by the tax authorities was therefore deleted.
