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/...
CESTAT Bangalore held that section 149 of the Customs Act, 1962 allows amendment of a Bill of Entry after the clearance of the goods only on the basis of documentary evidences which were in existence at the time the goods were cleared for home consumption. In absence of the same, the amendment is unjustified.
ITAT Ahmedabad held that payment of guarantee fee to the Govt. of Gujarat in consideration of guarantee issued by it for repayment of unsecured loan is revenue expenditure.
Karnataka High Court held that even if the tax paid is found to be less than that payable, no further demand can be made for recovery of the balance amount when a fresh assessment is barred.
Analyzing ITAT Chennai’s decision on the tax rate application in Dinroze Estate Vs ITO case. The trust with known beneficiaries should be taxed at individual rates.
ITAT Mumbai held that interest cost incurred towards acquisition of the clear title of the property is allowable as cost of acquisition.
The Hon’ble High Court observed that for refusal of Registration under Section 11 of the Trademarks Act, it would have to be shown that the marks themselves are confusingly similar to each other, and that, owing to the similarity in the marks and the goods and services which they cover, there is a likelihood of confusion among the public, or a likelihood of the public believing the existence of an association between the marks.
ITAT Bangalore held that payments received towards interconnectivity utility charges from Indian customers / end users cannot be considered as Royalty to be brought to tax in India under section 9(1)(vi) of the Income Tax Act and also as per DTAA.
ITAT Mumbai held that as Form No. 67 has been filed by the Appellant before the processing the return of income under Section 143(1) of the Income Tax Act, foreign tax credit is duly eligible.
Delve into the Prem Naraindas Raney Vs DCIT (ITAT Mumbai) case to understand the complexities surrounding the set-off of short-term capital loss against gains under section 70 and 71 of the Income Tax Act, 1961.
ITAT Jodhpur held that merely by transferring the reserve created out of the tax paid profit subsequently transferred to capital account of the firm is not a mistake apparent on record and cannot be rectified under the guise of provision of section 154 of the Act
