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/...
In-depth analysis of ITAT Kolkata order on Income Tax Department’s misuse of Section 68 powers. Dismissal of appeal for unexplained cash credit of Rs.3 Cr.
Karnataka High Court held that scrutiny notice issued u/s 143(2) by the Additional Commissioner of Income Tax, National Faceless Assessment Centre instead of jurisdictional Assessing Officer under Central Charge is sustainable in law and hence valid.
ITAT Bangalore upholds disallowance of belated ESI & Provident Fund payments in Balmatta Diagnostic & Research Centre case. Portal glitches lead to delay, but disallowance confirmed.
Rajasthan High Court held that imposition of penalty u/s. 270A of the Income Tax Act unjustified as application filed u/s. 270AA for immunity of penalty not decided by AO within prescribed time limit.
ITAT Chennai held that disallowance of interest u/s 36(1)(iii) of the Income Tax Act on loans and advances given to subsidiary company unjustified as investment in subsidiary is purely for commercial expediency.
ITAT Jaipur held that non-deposit of employees contribution to ESI and PF within due date as per the respective Act is disallowance by invoking provisions of section 36(1)(va) r.w.s. 2(24)(x) of the Income Tax Act.
ITAT Kolkata held that revisionary proceedings u/s. 263 initiated in the name of non-existent entity, despite the fact that private limited company was converted into LLP and the conversion was brought to the knowledge of AO, is void ab initio and invalid.
Deduction under Section 57 was allowable on the cost of funds and proportionate administrative expenses for earning interest income to the extent of Rs.9,05,550/-.
CESTAT Delhi held that that refund has to be granted to the respondent as the order for amendment in the Bills of Entry had attained finality.
ITAT Jaipur held that as defect notice issued u/s. 139(9) of the Income Tax Act is not in accordance with the law and hence the return of income filed by the assessee should be considered as valid return.
