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 : ITAT Mumbai held that disallowance made by the CPC u/s. 143(1)(a) of the Income Tax Act on the claim of deduction u/s. 80P of the ...
Income Tax : The Madras High Court in Thejo Engineering Limited Vs Deputy Director of Income Tax ruled that denying Foreign Tax Credit despite ...
Income Tax : Notice under section 148 was issued upon assessee by AO for reassessing the cash deposit as undisclosed income, following approval...
Income Tax : ITAT Delhi held that when shares are held as investments, there will be no business income and accordingly provisions of section 2...
Income Tax : Gujarat High Court quashes Income Tax reassessment notice against Deepak Natvarlal Pankhiyani HUF, citing lack of fresh evidence s...
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/...
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.
Anjana Foundation Vadodara vs A.O.: Ahmedabad ITAT clarifies that advance filing of Form 10B isn’t mandatory for claiming exemption under Sections 11 & 12.
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.
