Income Tax : The recent rejection of a rectification request under Section 154 of the Income Tax Act, 1961, by the Income Tax Department withou...
Income Tax : Taxpayers face challenges when assessment orders don’t reflect DRP directions. Misalignments lead to disputes, rectification iss...
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 : The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an a...
Income Tax : KSCAA has made a Representation on Challenges in Income Tax Related to Rectification Proceedings, Order Giving Effect, Delay in P...
Income Tax : Even after due efforts taken by the Government to ensure compliance relating to filing of TDS returns by the deductors, the defaul...
Income Tax : Taxpayers who are not satisfied with the outcome of processing of their Income Tax Return by the Centralized Processing Centre, Be...
Income Tax : Department introduces new facility for online submission of rectification request in cases where processing was completed by CPC B...
Income Tax : ITAT Chandigarh directs CIT(A) to review SJVN Limited's appeal on MAT credit and book profit under Section 115JB. Read the key h...
Income Tax : ITAT Mumbai condones a 2202-day delay in filing appeal by Palmera Co-op Housing Society. Bona fide belief in rectification under S...
Income Tax : ITAT Hyderabad held that determination of sale consideration on the basis of some statements without bringing any concrete materia...
Income Tax : The writ petitioner impugns the order dated 27 March 2018 in terms of which the respondent has come to reject applications filed b...
Income Tax : ITAT Jaipur held that exercise of revisionary power under section 263 of the Income Tax Act on the basis of audit objection is not...
Income Tax : Taxpayers who are not satisfied with the outcome of processing of their Income Tax Return by the Centralized Processing Centre, Be...
Income Tax : Instruction No. 02/2016 Section 154 of the Act mandates that rectification order shall be passed in writing by the Income Tax auth...
Income Tax : Instruction No. 01/2016 section 154 stipulates that where application for amendment is made by assessee/deductor/collector with a...
Income Tax : 225/148/2015-ITA-II Expeditious disposal of applications for rectification under section 154 of the Income-tax Act, 1961 (Act) dur...
Income Tax : INSTRUCTION NO. 3/2013 Hon'ble Delhi High Court vide Judgment in case of Court On its Own Motion v. UOI and Ors. in W.P. (C) 2659/...
ITAT Kolkata held that TPO should follow the direction of Hon’ble Dispute Resolution Panel (DRP). Accordingly, matter to the file of ld. TPO/AO for further calculation of TP adjustment by considering the direction of the Hon’ble DRP.
ITAT Bangalore held that if the duration of software license is less than two years, then it should be treated as revenue expenditure and if the duration is more than two years, then it should be treated as capital expenditure.
ITAT Mumbai concluded that the enhancement of the value of sales without corresponding adjustments to purchases was erroneous.
Dhirajlal Savailal Shah Vs ITO (ITAT Ahmedabad) If the receipt is not liable to tax in the hands of the recipient for any reason, the same cannot be a ground for not granting credit for TDS.
In a landmark decision, ITAT Mumbai rules in favor of Abu Dhabi Investment Authority, stating that a fraud mobile number cannot deny tax treaty benefits. Full text of the order included.
Bombay High Court rules that interest paid on loans taken to invest in shares of a subsidiary in normal business activities is allowable expenditure under the Income Tax Act.
Kalpana Sunil Vaid’s appeal against a penalty under Section 271D of the Income Tax Act for loans taken from partnership firms is dismissed by ITAT Ahmedabad.
Rajkot ITAT finds BSNL not in default for TDS on discounts to distributors, emphasizing correct TDS rates compliance for AY 2009-10. Appeals allowed.
ITAT Bangalore rules on the scope of rectification under Section 154, emphasizing that only clear and obvious mistakes can be corrected, aiding the assessee.
ITAT Mumbai held that determination of Annual Let Out Value (ALV) of unsold flats held as stock-in-trade is not sustainable in law. Accordingly, addition of ALV of unsold flats deleted.
