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 : Article discusses about Order which can be rectified under section 154 of Income Tax Act, 1961, Rectification of Income Tax order ...
Income Tax : Proposed reforms in tax procedures: shorten rectification processing time, allow partial payment for appeals, and streamline colle...
Income Tax : If any mistake is apparent from the record, the Income-tax authority can rectify such mistake. An order of rectification is requ...
Income Tax : Apeksha Gupta Sometimes there may be a mistake in any order passed by the Assessing Officer. In such a situation, mistake which is...
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 : Gujarat High Court quashes Income Tax reassessment notice against Deepak Natvarlal Pankhiyani HUF, citing lack of fresh evidence s...
Income Tax : PCIT Vs Farmson Pharmaceuticals Gujarat Pvt Ltd (Gujarat High Court): Reassessment cannot be solely based on a reevaluation of exi...
Income Tax : ITAT Indore rules in Asha Rani Pandya Vs DCIT/ACIT that filing Form 67 for claiming Foreign Tax Credit (FTC) is a directory requir...
Income Tax : ITAT Delhi rules Section 56(2)(vii) inapplicable to non-residents, deleting Rs. 9.31 Cr addition for APL Logistics Vascor Automoti...
Income Tax : Explore the ITAT Mumbai's decision on payments to retiring partners by Deloitte Haskins and Sells LLP. Understand why it's not con...
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/...
In Coronation Cigar Co. Vs DCIT (ITAT Mumbai), payments towards PF and ESI made before the due date of filing Income Tax Return are not disallowed under section 139(1) of the Act. Read the detailed analysis here.
Discover the detailed analysis of the case National Stock Exchange of India vs. DCIT where ITAT Mumbai ruled that NSE’s contribution to Core SGF is not considered a contingency reserve.
Where an AO had also failed to do what was required under the law at the time of passing Assessment Order and had passed an Assessment Order with such defects, such assessment orders could be rectified by the officer by exercising power under section 154.
Delhi High Court held that assessment order passed without making required inquiries or verification is considered as erroneous and prejudicial to the interest of revenue, accordingly, PCIT rightly invoked revisional powers under section 263 of the Income Tax Act.
ITAT Mumbai held that once assessee’s claim of deduction u/s. 80IA of the Income Tax Act on Supa Wind Power Project 17 MW Unit has been accepted in the initial Assessment Year, the same cannot be denied in the subsequent Assessment Years.
Premier Exports vs ACIT: Kerala HC quashes order for failing to dispose rectification application on time under Section 154 of the Income Tax Act and considering CBDT Circular.
Bisharpara Kodalia Cooperative Credit Society Ltd vs ITO: Kolkata ITAT rules that CPC’s adjustment of Sec 80P deduction pre-April 2021 is beyond its jurisdiction.
Read how Delhi High Court reaffirmed taxpayer rights, urging the tax department to refrain from exploiting lack of taxpayer knowledge. Case details and analysis here.
Delve into the case of Asha Modern Educational Society challenging the denial of income application for charitable purpose under Sections 11 & 12 of the IT Act. Detailed analysis and conclusions provided.
ITAT Kolkata held that for determining fair and true profit for the purpose of application of Transactional Net Margin Method (TNMM), it is appropriate that the effect of depreciation must be excluded.
