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/...
ITAT Ahmedabad directs CIT(A) to decide the denial of Foreign Tax Credit (FTC) due to delay filing of Form No. 67 to be decided with other pending appeal of the same assessment year. Accordingly, matter remitted to CIT(A).
ITAT Surat held that rejection of the application for condonation of delay in filing refund claim u/s 119(2)(b) of the Act is not an appealable order u/s. 253. Thus, appeal dismissed as infructuous.
CESTAT Chennai held that duty demand due to non-fulfilment of export obligation justified as department empower to recover escaped duty when post importation conditions are not fulfilled. Accordingly, appeal dismissed.
ITAT Ranchi directed CIT(A) to reconsider the matter of disallowance due to late deposit of Employees Contribution u/s 36(1) (va) of the Income Tax Act in light of decision of Hon’ble Supreme Court in Checkmate Services.
It is the case of the assessee that it has not been provided with the opportunity of being heard before the Ld. AO/CPC, Bangalore while passing an order under Section 154/153(1) and additions were made due to inadvertent mistake of the tax auditor in both the employer and employee’s contributions. Actual due date of the salary should have been verified by the CPC/A.O.
Although Rule 128(9) requires Form 67, assessee’s compliance within this rule during the rectification stage demonstrated a good faith or effort to fulfil procedural requirement.
Chhattisgarh HC examines ITAT’s denial of appeal condonation for Navodit Samaj Sevi Sanstha in a tax dispute involving Section 12A registration under the Income Tax Act.
The assessee herein is a part of Allana Group, which is engaged in the business of export of food products and agro commodities including frozen meat processed/frozen food, edible products, agro products etc.
ITAT Ahmedabad held that disallowance under section 56(2)(viib) of the Income Tax Act sustained due to wide fluctuation in value of share within a period of less than 5 months and that too within same financial year without accurate explanation.
Even after the submission CIT (A) ignored the fact and upheld the addition amounting to Rs. 32,00,000/- not at Rs. 18,50,000/- which was result of rectification order passed by the AO.
