Income Tax : Breaks down Section 234F penalties, 1% monthly interest, and the hidden loss of tax benefits that arise when returns are filed aft...
Income Tax : Understand Sections 234A, 234B, 234C, and 234D of the Income Tax Act covering interest on late filing, short payment, delayed adva...
Income Tax : A summary of key penalties under the Income Tax Act for AY 2026-27, covering defaults from late filing and non-payment to misrepor...
Income Tax : Understand how interest under the Income Tax Act is calculated, including Sections 234A–234D, 244A, and Rule 119A mechanics for ...
Income Tax : Missing the ITR due date u/s 139(1) mandates the use of the new tax regime, as the option to choose the old regime or file Form ...
Income Tax : All Odisha Tax Advocates Association has filed an PIl before Orissa High Court with following Prayers- (i) Admit the Writ Petition...
Income Tax : Representation for relaxation from levy of interest u/s. 234A on payment of self-assessment tax for A.Y. 2020-21 within extended d...
Income Tax : The Government is planning to specify a certain category of taxpayers to pay their entire tax liability for FY 2019-20 in advanc...
Income Tax : At the end of May the Income Tax Return forms are released for the Assessment Year 2015-16 and same been held back by finance mini...
Income Tax : Tribunal held that deduction for bad debts is allowable in the year in which the debts are actually written off in the books of ac...
Income Tax : Relying on its earlier ruling in the assessee’s own case, the Tribunal held that gross profit should be estimated at 0.40% rathe...
Income Tax : Tribunal reiterated that credits brought forward from earlier financial years cannot ordinarily be taxed under Section 68 in subse...
Income Tax : ITAT Delhi held that lawful TDS credit cannot be denied merely because the Assessing Officer overlooked an earlier rectification o...
Income Tax : The Tribunal ruled that participation by a legal heir does not validate notices and assessment orders issued in the name of a dece...
Income Tax : The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of s...
Income Tax : CIRCULAR NO. 2/2015 The Board has decided that no interest under section 234A of the Act is chargeable on the amount of self-asses...
Read the detailed analysis of ITAT Bangalore’s decision in Jayanti Vasishta vs ITO allowing indexed cost of construction for a penthouse regularized on the sale date.
ITAT Delhi held that there is no provision regarding establishment of virtual service PE under India-Singapore DTAA and hence physical rendition of service in India is required under India-Singapore DTAA as per present service PE.
Securico Electronics vs. ACIT: ITAT Delhi disallows Rs.33,97,998 80IC deduction due to late Form 10CCB filing. Full text analysis & conclusion.
In Brightstar Vincom Pvt Ltd Vs ITO, Kolkata ITAT emphasizes independent inquiry by AO before adding under section 68 of IT Act.
ITAT Delhi’s order on Trident Towers Pvt. Ltd vs ACIT addresses the deletion of addition under section 68 of the Income Tax Act, citing submission of requisite documents.
Indore ITAT clarifies that a firm can’t deny land ownership if bought through directors. Read the detailed analysis of Bagora Developers Pvt. Ltd. Vs ACIT case.
ITAT Delhi held that in order to claim exemption under Section 13A of the Income Tax Act by the political party it is necessary to furnish return of income by the ‘due date’ as per Section 139 of the Income Tax Act.
Read the detailed analysis of ITAT Delhi’s decision to delete additions made on cash salary payments without proper documentation in Vaibhav Jain Vs DCIT case.
Explore the case of Gundarlahally Ramesh Meera Vs ITO as ITAT Bangalore directs readjudication due to delay in filing appeal before lower authorities.
ITAT Bangalore rules receipts from the sale of online videos by Plural Sight LLC to Indian clients are not taxable as ‘Royalty’ under India-USA DTAA.
