Income Tax : Learn the updated provisions governing rectification, assessments, reassessments, and appeals under the Income-tax Act. This guide...
Income Tax : The Income Tax Department explains how faceless assessments under Section 144B operate through the e-Filing portal without requiri...
Income Tax : Section 154 permits rectification of mistakes apparent from the record in assessment orders, intimations, and TDS/TCS processing s...
Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
Income Tax : Judicial rulings clarify that Section 54 focuses on timely investment of capital gains, not rigid legal ownership milestones. The ...
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 : High Court restrained tax recovery, holding the Section 154 order prima facie breached natural justice by withdrawing exemption wi...
Income Tax : ITAT held that Section 154 cannot be used where applicability of Section 167B requires factual examination, making the issue debat...
Income Tax : ITAT directed the AO to verify Form 26AS and the corresponding income before deciding the TDS credit claim instead of denying it o...
Income Tax : ITAT Mumbai held that the CPC could not withdraw an already allowed Section 10AA deduction through rectification without recording...
Income Tax : The ITAT Delhi held that deduction of TDS by the payer does not by itself establish that income has accrued to the recipient. It r...
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/...
Gujarat High Court held that addition under section 68 of the Income Tax Act towards bogus Long Term Capital Gains [LTCG] from sale of penny stock cannot be sustained since genuineness of the stock proved with evidence. Accordingly, appeal of revenue dismissed.
Kerala High Court has dismissed Vimala Hospital’s appeal, ruling that an error in a tax return cannot be corrected through a rectification plea if a revised return was not filed within the statutory timeframe. The court upheld the lower authorities’ decision, stating that the hospital’s voluntary declaration of anonymous donations in its return was binding.
ITAT Nagpur has dismissed Revenue’s appeal against Western Coalfields Ltd., affirming that a delay in filing Form 10-IC for the concessional tax rate under Section 115BAA can be condoned.
The ITAT Cochin has ruled that a charitable trust’s belated return filing for AY 2014-15 is not a valid reason to deny an exemption under Section 11. The court clarified that the condition for timely filing became a legal requirement only from AY 2018-19.
The ITAT Pune ruled in the case of Nanasaheb Bhagawan Sasar vs. ITO that an assessee is entitled to a full Tax Deducted at Source (TDS) credit, even if the buyer mistakenly deducted the entire amount in the assessee’s name for a joint property sale.
The Income Tax Appellate Tribunal (ITAT) in Delhi has ruled that a disputed tax addition is no longer valid after the Assessing Officer (AO) himself rectified the initial assessment order under Section 154 of the Income-tax Act, granting the taxpayer full relief.
The ITAT Raipur condoned a 1,742-day delay for an assessee, restoring their appeal. The ruling emphasizes a justice-oriented approach and bars CIT(A) from dismissing cases solely for delay.
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.
