Income Tax : India has moved from a uniform ITR deadline to a category-based system linked to audits and income complexity. The reform improves...
Income Tax : Explains the statutory penalties, interest, and financial losses triggered by belated ITR filing. Highlights real case examples sh...
Income Tax : Highlights the legal obligations of timely ITR filing, penalties for delays, and the benefits of maintaining a clean financial rec...
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 : Explore the different types of assessments under the Income Tax Act, 1961, including self-assessment, regular assessment, and best...
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 : Chartered Accountants Association, Jalandhar has made a request to FM for Extension of specified date of filing tax audit report a...
Income Tax : Joint representation fo Extension of various dues dates of filing Audit Reports and Income Tax Returns under Income Tax Act, 1961 ...
Income Tax : Request for Extension of the specified date of filing the Tax Audit Report and other forms falling due on or before 15th January 2...
Income Tax : Rajasthan BJP Economic Cell has made a request for extension of due date of furnishing of Report of Audit under provision of the I...
Income Tax : ITAT Jaipur held that exemption under Section 11 cannot be denied merely because Form 10B was filed late when it was already avail...
Income Tax : The ITAT Hyderabad held that delayed filing of Form No. 67 cannot result in denial of foreign tax credit under Section 90. It rule...
Income Tax : The ITAT Mumbai held that Section 69C cannot be invoked where expenditure is duly recorded in the books and its source is fully ex...
Income Tax : Mumbai ITAT held that maintenance charges and other collections received exclusively from members of a co-operative society are ex...
Income Tax : The Tribunal ruled that delayed filing or incorrect disclosure in Form 67 does not automatically disentitle an assessee from claim...
ITAT Jaipur held that exemption under Section 11 cannot be denied merely because Form 10B was filed late when it was already available before processing the return under Section 143(1). The Tribunal allowed the trust’s appeal and directed grant of the exemption.
The ITAT Hyderabad held that delayed filing of Form No. 67 cannot result in denial of foreign tax credit under Section 90. It ruled that the filing requirement is directory and cannot override the substantive benefit available under the DTAA.
The ITAT Mumbai held that Section 69C cannot be invoked where expenditure is duly recorded in the books and its source is fully explained. It deleted the addition relating to royalty, commission, and technical service payments.
Mumbai ITAT held that maintenance charges and other collections received exclusively from members of a co-operative society are exempt under the doctrine of mutuality. Surplus generated from such receipts does not constitute taxable income.
The Tribunal ruled that delayed filing or incorrect disclosure in Form 67 does not automatically disentitle an assessee from claiming Foreign Tax Credit. Substantial justice must prevail over technical procedural defects.
The Tribunal upheld the disallowance of HRA exemption under Section 10(13A) as the assessee failed to submit any supporting documents for rent payments. In the absence of evidence, the claim of ₹1,08,000 was rightly disallowed.
The Tribunal held that once provisions were disallowed and taxed in an earlier year, their subsequent reversal cannot be taxed again. It directed withdrawal of income offered to prevent double taxation.
India has moved from a uniform ITR deadline to a category-based system linked to audits and income complexity. The reform improves compliance efficiency while remaining rooted in statutory authority.
The Revenue argued AMP functions required separate compensation under DEMPE principles. The Tribunal rejected this, holding that consistent past rulings prevail absent material factual change.
Explains the statutory penalties, interest, and financial losses triggered by belated ITR filing. Highlights real case examples showing how even minor delays cause significant extra costs.
