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 Mumbai deletes addition on whole amount from sale of shares in Nikunj Kaushik Shah Vs ITO case, criticizing unwarranted litigation, incompetence & casual approach
ITAT Mumbai held that non-examination of the details clearly makes the order of AO erroneous and prejudicial to the interest of revenue. Accordingly, PCIT correctly assumed the revisional jurisdiction under section 263 of the Income Tax Act.
The ITAT Delhi orders a review of the Institute of Company Secretaries of India’s income tax exemption claim, sending the matter back for verification by the AO.
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.
