Income Tax : Faceless Income-tax proceedings and e-assessments under Section 144B simplify taxpayer compliance. Use the e-filing portal for ele...
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 : A look into why taxpayers face interest charges under Sections 234B and 234C, exploring how Section 210, a provision for official ...
Income Tax : Request to CBDT to permit filing of Form 10IC after expiration of time limit by condoning delay Issuance of Order under Section ...
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 : Recommendation For Amendment To Section 234C To Provide Relief Where A New Business Is Started During The Financial Year Section 2...
Income Tax : The issue involved taxing capital gains from a development agreement in multiple years. The court held the same income cannot be t...
Income Tax : Reassessment quashed by ITAT Bangalore as failure to pass a speaking order on objections violated mandatory procedure under Sectio...
Income Tax : The Tribunal held that reopening under Section 147 was invalid where it was based on third-party search material. It ruled that Se...
Income Tax : The Tribunal held that purchases cannot be treated as bogus when supported by invoices, bank payments, and GST records. It ruled t...
Income Tax : The issue was incorrect computation of interest without reducing foreign tax relief. ITAT held that relief under sections 90/90A m...
ITAT Delhi held that notice under section 274 r.w.s. 271(1)(c) of the Income Tax Act issued without specifying the specific charge or limb i.e. without striking off the irrelevant limb is erroneous. Accordingly, penalty order u/s. 271(1)(c) cannot be sustained.
Understand how interest under the Income Tax Act is calculated, including Sections 234A–234D, 244A, and Rule 119A mechanics for taxpayers.
The ITAT deleted the disallowance under Section 36(1)(va) for a one-day delay in depositing employees PF contribution. The ruling held that the delay was due to a technical failure of the EPFO portal, not the taxpayers fault, successfully invoking the doctrine of impossibility over the strict ruling in Checkmate Services.
Kolkata ITAT rules that delayed Form 67 filing isn’t fatal to FTC claim. FTC is a substantive right under Section 90; Rule 128’s timeline is directory, not mandatory.
A summary of ITAT Chennai’s order in Shanmugasundaram Venkatachalapathy Vs ITO, which sustained both unexplained investment under Section 69 and professional receipts found via Form 26AS but not declared in income tax return.
ITAT Mumbai allowed an appeal by a private discretionary trust, directing the re-computation of surcharge at 15% instead of 37%. The decision follows the Special Bench ruling in Aradhya Jain Trust vs. ITO, clarifying surcharge slab applicability for trusts taxed at maximum marginal rate.
The ITAT Chennai rules that the surcharge on a private discretionary trust’s dividend and capital gains income cannot exceed 15%, setting a precedent for similar cases.
ITAT Pune held that provisions of section 43CA of the Income Tax Act doesn’t apply when the market value (Govt. value) is more than the agreed value as on the date of booking and market value has gone up during long gap between the date of booking and the date of sale.
A look into why taxpayers face interest charges under Sections 234B and 234C, exploring how Section 210, a provision for official reminders, is no longer used by the tax department.
ITAT Delhi held that addition on the basis of interest paid on cash loans received by the assessee is directed to be deleted. Accordingly, appeal of the assessee are partly allowed.
