Income Tax : This guide explains the penalty and prosecution framework under the Income-tax Act for AY 2026-27. It highlights the consequences ...
Income Tax : The Income Tax Department explains how faceless assessments under Section 144B operate through the e-Filing portal without requiri...
Income Tax : The Income Tax Department explains when interest is payable for delayed return filing, advance tax defaults, deferment of instalme...
Income Tax : The article explains how offences such as wilful tax evasion, failure to file returns, non-payment of TDS/TCS, falsification of re...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
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 : ITAT held an assessment passed after the taxpayer's death was invalid in law, quashed the order, and treated all remaining issues ...
Income Tax : ITAT Delhi held that IT, salary and travel reimbursements without any profit element were not taxable and deleted the disallowance...
Income Tax : ITAT Jaipur held that a one-day delay in filing Form 10DA could not defeat a Section 80JJAA deduction when the form was on record ...
Income Tax : ITAT upheld taxation of IPS and CEV subsidies following the Section 2(24) amendment, while partly allowing the appeal on other iss...
Income Tax : Delhi High Court held the ITAT failed to properly examine the ‘make available’ test for secondment payments, set aside its ord...
The Hon’ble Punjab & Haryan High Court in the case of Shri Krishan Gopal HUF held that the levy of interest u/s 234A , B & C is part and parcel of the of assessment process and it is open to an assessee to dispute the levy in appeal provided he challenge the very levy rather than claiming any waiver
In the case of Abhishek Cotspin Mills Ltd. v ACIT it is held by ITAT Pune that whenever the Assessee declares the returned income which is higher than the actual Asseessed Income, then interest would be charged under section 234C on the assessed Income and In case assessed income is higher than returned Income Than such Interest will be charged on returned Income.
Part II of Schedule VI to the Companies Act, 1956, requires the profit and loss account to be drawn in a manner to disclose the result of the working of the company during the period, and it should disclose every material feature in respect of non-re
The Patna High Court in the case of Ranchi Club Ltd. Vs. C.I.T. [1996] 217 ITR 72 (Pat.), rendered a very significant judgement that interest under Section 234A and 234B is to be levied on the income declared in the return of income and not on the assessed income. This judgement was passed on 13.11.1995. Thereafter, on 2.7.1996, another very significant judgement was rendered in the case of Ranchi Club Ltd. & Others Vs. C.I.T. [1996] 222 ITR 44 (Pat.)
