Goods and Services Tax : Explore Income Tax systems, from Form 26AS and AIS for tax data to CPC-ITR and faceless assessments ensuring transparency and effi...
Income Tax : Learn about rectifying mistakes in income tax orders under Section 154, including types of rectifiable orders, responsible authori...
Income Tax : Learn about the Faceless Income-Tax Proceedings, including e-Proceedings features, differences from manual assessments, and how to...
Income Tax : Learn how online gaming habits can lead to income tax scrutiny notices under Section 143(2) of the Income Tax Act, 1961. Understan...
Income Tax : Explore journey of India's tax administration transformation led by PM Narendra Modi. Learn about Faceless Assessment Scheme, prom...
Income Tax : In view of Indiscriminate notices by income Tax Department without allowing reasonable time it is requested to Finance Ministry an...
Income Tax : Lucknow CA Tax Practicioners Association has made a Representation to FM for Extension of Time Limit for Assessment cases time bar...
Income Tax : The Kerala High Court, today admitted a batch of Writ Petitions challenging the constitutional validity of the Faceless Assessment...
Income Tax : Delhi ITAT rules Section 56(2)(viib) of the IT Act does not apply to transactions between holding and subsidiary companies, quashi...
Income Tax : ITAT Surat condones a 162-day delay in appeal filing by a 77-year-old farmer, citing lack of legal guidance, and directs a fresh a...
Income Tax : ITAT Chennai rules CSR donations to PM Relief Fund qualify for 80G deduction, overturning AO's decision. Read key judicial precede...
Income Tax : ITAT Kolkata held that reopening of assessment framed u/s. 148A(d) without application of mind and without controverting the expla...
Income Tax : ITAT Mumbai held that addition under section 69 towards unexplained cash made by the AO without bringing any concrete evidence on ...
Income Tax : CBDT issues guidelines for IT verification under Section 144B(5), detailing circumstances for digital and physical checks, effecti...
Income Tax : In pursuance of sub-section (3) of section 144B of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby makes the fo...
Income Tax : Standard Operating Procedure (SOP) for Assessment Unit (AU), Verification Unit (VU), Technical Unit (TU) and Review Unit (RU) unde...
Income Tax : Roll out of first phase of changes in ITBA functionalities for Faceless Assessment due to amendments in Section 144B by Finance Ac...
Income Tax : National Faceless Penalty Centre, in accordance with the guidelines issued by the Board, may,–– (a) in a case where imposit...
Clause (ba) of sub-section (1) of section 12A was applicable for AY.2018-19 onwards and not for AY.2017-18, assessee-temple trust was entitled to tax exemptions under Sections 11 and 12 . Hence, the order of AO was not erroneous and prejudicial to the interests of revenue and therefore, it was not amenable to revision u/s 263.
In the case abovementioned ITAT Ahmedabad remanded the matter to CIT (A) after considering that assessee could not file evidence before CIT (A) in lack of service of notices.
ITAT Mumbai held that the Employee Stock Option Plans [ESOP] expenses should not be regarded contingent or notional and it should be allowed as deduction u/s 37(1) of the Income Tax Act.
Allahabad High Court held that the resolution applicant cannot be saddled with new claims once a resolution plan has been approved. Thus, any new liability being fastened after the approval of the Resolution Plan would inherently and palpably be illegal.
It is mainly contested that invocation of jurisdiction under Section 148 of the Act was beyond the period of limitation under Section 148 read with Section 147 of the Act as there was no suppression of facts by the petitioners.
Calcutta High Court quashes assessment order due to procedural lapses and improper service of notices, emphasizing compliance with Section 282 of the Income Tax Act.
ITAT Mumbai held that the internal audit memo is outside the scope and ambit of the term “information” as provided in Explanation 1 to section 148 of the Act, prior to its amendment by the Finance Act, 2022. Accordingly, reopening of proceedings liable to be quashed.
Analysis of Hyundai Rotem Vs ACIT case by ITAT Delhi on tax assessments, time limits under Section 144C, and procedural compliance for international taxation cases.
The petitioner, aggrieved by the Assessment Order filed an appeal before the Commissioner’s Office and it is submitted that the appeal is presently pending but no effective order has been passed thereon.
In my view, having regard to the facts and circumstances, the statutory authority was bound to afford a personal hearing to the petitioner through video conferencing as mentioned above. The result of this infraction would be that the impugned orders will have to be set aside.
