Income Tax : Judicial rulings clarify that Section 54 focuses on timely investment of capital gains, not rigid legal ownership milestones. The ...
Income Tax : The ITAT held that an assessment completed before receiving the DVO report under section 50C(2) is invalid. All additions and disa...
Income Tax : Understand the statutory time limits for filings, applications, approvals, and settlement processes under the Income-tax Act, incl...
Income Tax : Learn the scope, time limits, and procedure for correcting mistakes apparent from records under Section 154, including appeal rest...
Income Tax : Faceless Income-tax proceedings and e-assessments under Section 144B simplify taxpayer compliance. Use the e-filing portal for ele...
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 Hyderabad held that addition of Rs. 13 lakh under Section 69A through rectification proceedings exceeded the scope of Section...
Income Tax : Tribunal held that deduction for bad debts is allowable in the year in which the debts are actually written off in the books of ac...
Income Tax : The ITAT Delhi held that the Assessing Officer could not alter book profit under Section 115JB by disallowing losses from alleged ...
Income Tax : ITAT Mumbai held that Form 3CL issued by DSIR could not be treated as additional evidence during rectification proceedings since i...
Income Tax : ITAT Delhi held that lawful TDS credit cannot be denied merely because the Assessing Officer overlooked an earlier rectification o...
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/...
The ITAT Raipur restores Section 10(10D) exemption, ruling the CPC exceeded its powers by making a complex adjustment on an insurance policy’s maturity proceeds.
The Income Tax Appellate Tribunal (ITAT) in Bangalore ruled that an individual’s right to claim Foreign Tax Credit (FTC) is substantive, and a delay in filing Form 67, a procedural requirement, cannot extinguish this right.
The ITAT Kolkata ruled that an employee is entitled to full TDS credit even if their employer failed to deposit the tax. The ruling emphasizes that the remedy lies against the employer.
The Income Tax Appellate Tribunal (ITAT) Kolkata allowed QLAR India Pvt. Ltd.’s appeal, ruling that the Assessing Officer’s disallowance of warranty provisions through rectification proceedings under Section 154 was invalid
ITAT Delhi held that revisionary proceedings under section 263 of the Income Tax Act is not justifiable since proper enquiry and examination was made and therefore, there is no error in the order of the AO thus, it is not pre-judicial to the interest of the Revenue.
The ITAT Pune restores a case for fresh assessment after an updated tax return was filed with errors by a consultant, ruling that a taxpayer cannot be taxed on income they did not earn.
The Income Tax Appellate Tribunal (ITAT) in Jodhpur has sent a tax dispute involving Narain Dal And Oil Mills back to the lower tax authority for a re-examination of an unpaid IGST claim of Rs. 37.92 lakh.
ITAT Hyderabad directed to reconsider claim of concessional tax rate benefit u/s. 115BAA of the Income Tax Act since Form 10-IC filed belatedly but was filed before cut-off date i.e. 30.06.2022 as prescribed by CBDT Circular No. 6/2022. Accordingly, appeal allowed for statistical purpose.
The Income Tax Appellate Tribunal (ITAT) in Jodhpur has set aside an order that led to the double taxation of income, instructing the tax authorities to correct a taxpayer’s inadvertent error. The ruling distinguishes a key judicial precedent to prevent an unjust outcome.
The ITAT Delhi has set aside an order that levied an excessive 37% surcharge on the dividend income of Srijan Family Trust, confirming the correct rate is 15%.
