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 Ahmedabad rules in favor of a co-op housing society, deleting addition based on assumed 8% net profit from unsecured loans taken from non-members.
AO, however, did not accept the explanation of the assessee and the accumulation of income of Rs.5,92,352/-in A.Y. 2008-09, which was held as not applied within the stipulated period of 5 years, was treated as income of the current year.
Explore the ITAT Mumbai’s ruling on Vipul Vasant Patil’s foreign tax credit claim and interest levies for FY 2018-19. Learn more about the case details.
Considering the judgment of Alnavar Credit Souharda Co-op Ltd noted above the AO is directed to decide the issue afresh regarding the claim of deduction made by the assessee.
It was held that assessee to provide concrete evidence establishing the genuineness of the cash deposits in accordance with CBDT Circular wherein the various instructions had been issued by CBDT dated 21.2.2017, 3.3.2017, 15.11.2017 & 9.8.2019.
Punjab and Haryana High Court held that interest under section 234B and 234C of the Income Tax Act cannot be waived as depositing advance tax has nothing to do with seizure of the books of accounts.
Assessee preferred an appeal before CIT(A) with a delay of about 133 days in filing the appeal. However, CIT(A) dismissed the appeal by not condoning the delay and without adjudicating the issues on merits. Being aggrieved, the present appeal is filed.
Madras High Court held that Settlement Commission not authorized to rectify the order under section 154 of the Income Tax Act as power of rectification vested to Settlement Commission only with effect from 01.06.2011.
Punjab and Haryana High Court held that interest can be waived in case the circumstances are beyond the control of the assessee in filing return in time. Accordingly, interest u/s. 234-A of the Income Tax Act waived.
Learn how to calculate advance tax, payment deadlines, and exemptions. Find the steps for online payment and consequences of non-payment or delay.
