Income Tax : Understand advance tax rules, due dates, and penalties for non-compliance. Learn how to avoid interest charges under sections 234B...
Income Tax : Learn steps for calculating and paying advance tax for corporates, due dates for instalments and penalties for delayed payments u...
Income Tax : Discover the risks and penalties of submitting fake rent receipts to claim HRA exemptions and learn how to comply with tax regulat...
Income Tax : Learn how to calculate advance tax, payment deadlines, and exemptions. Find the steps for online payment and consequences of non-p...
Income Tax : Discover penalties and prosecutions under the Income Tax Act, 1961, including default conditions, quantum of penalties, and potent...
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 : Assessee was a partnership firm engaged in real estate development, had undertaken a housing project named Aakash Nidhi. It claime...
Income Tax : Madras High Court rules that a taxpayer with a writ petition pending on disputed interest is eligible for the Vivad Se Vishwas sch...
Income Tax : ITAT Mumbai allows Mauritius fund to carry forward capital losses under Indian law while claiming DTAA exemption on pre-2017 share...
Income Tax : ITAT Mumbai held that GST would not form part of gross receipts for the purposes of computing presumptive income under Section 44B...
Income Tax : ITAT Jaipur partially allows Amit Product's appeal in a bogus purchase case, reducing disallowance to 10% of Rs. 32.88 lakh....
ITAT Jodhpur ruled in favor of Arun Agarwal, allowing exemption under Section 54B for agricultural land sale, emphasizing that partial agricultural use is sufficient.
It was held that transactions and FAR of assessee were similar to AY 2021-22 and as per the records brought to our notice, there was no change in the activities carried out by assessee in the current assessment year and subsequent assessment years.
ITAT Ahmedabad remands Amod Steel case after non-appearance due to communication sent to a former accountant’s email, impacting the appeal process.
ITAT Ahmedabad affirms CIT(A)’s deletion of ₹12.92 crore tax addition under Section 40A(3), relying on past gross profit rates and valid agricultural purchases.
ITAT Jaipur held that disallowance of cash payment under section 40A(3) of the Income Tax Act deleted since genuineness of the transactions and the payment and identity of the receiver are established. Accordingly, appeal allowed.
ITAT Ahmedabad held that addition towards unexplained cash credit under section 68 of the Income Tax Act not justified since loan transactions were done through banking channels and loans were repaid in short period. Accordingly, addition deleted.
ITAT Ahmedabad allows Pankajkumar Patel’s appeal for statistical purposes, remanding unexplained investment case to AO for reconsideration under Section 69A.
ITAT Mumbai held that in the matter of adjustment of seized cash against self-assessment tax liability restored the matter back to file of AO for re-verification of application filed by the assessee. Accordingly, appeal partly allowed.
ITAT Jaipur examines Harish Jain’s appeal regarding additions on undisclosed income and retraction of statements during search operations. Detailed case analysis.
‘Gupt Daan’,a secret gift regarding unexplained cash in a Religious Trust locker was pertaining to RNB Temple Trust and was already brought on record to the extent of Rs.1,79,00,000/- which was evident from the Balance Sheet submitted.
