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/...
Bombay High Court rules that interest paid on loans taken to invest in shares of a subsidiary in normal business activities is allowable expenditure under the Income Tax Act.
Kalpana Sunil Vaid’s appeal against a penalty under Section 271D of the Income Tax Act for loans taken from partnership firms is dismissed by ITAT Ahmedabad.
Rajkot ITAT finds BSNL not in default for TDS on discounts to distributors, emphasizing correct TDS rates compliance for AY 2009-10. Appeals allowed.
ITAT Bangalore rules on the scope of rectification under Section 154, emphasizing that only clear and obvious mistakes can be corrected, aiding the assessee.
ITAT Mumbai held that determination of Annual Let Out Value (ALV) of unsold flats held as stock-in-trade is not sustainable in law. Accordingly, addition of ALV of unsold flats deleted.
ITAT Ahmedabad allows Prakashkumar Patel’s appeal, condoning a 2929-day delay in filing. Details of the case, assessment issues, and ITAT’s verdict explained.
Shamik Parikh vs ITO: ITAT rules termination compensation non-taxable. Grounds of appeal, analysis of order, and legal perspective explained in detailed article.
Satpal Singh Sandhu Vs DCIT (ITAT Raipur) In absence of Sec. 143(1)(a) being read in the above manner, i.e debatable issues cannot be adjusted by way of intimation under section 143(1)(a), would lead to arbitrary and unreasonable intimations being issued, leading to chaos
ITAT Raipur held that delayed deposit of employees share of contribution towards ESI/PF for A.Y. 2018-19 allowed as deduction.
HC establishes a precedent reinforcing principle that reassessment must be based on new and substantive grounds, preventing arbitrary or unfounded reopening of assessments.
