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 : This guide explains who is required to maintain books of account under Section 44AA based on business, profession, turnover, and i...
Income Tax : This guide explains when penalties can be imposed under various provisions of the Income-tax Act, 1961. It also outlines the appli...
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 outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
Income Tax : Explore amendments to section 253 of Income-tax Act, adjusting time limits for filing appeals to the Income Tax Appellate Tribunal...
Income Tax : ITAT ruled that personal savings account credits require proof of business nexus before being treated as turnover. The income addi...
Income Tax : Orissa High Court held that post search operation all pending assessments/reassessments doesn’t not automatically get abated as ...
Income Tax : The ITAT Bangalore held that cash received as part of sale consideration for immovable property does not automatically attract pen...
Income Tax : The dispute centered on a statutory obligation to maintain books of account. The tribunal confirmed that non-compliance attracts p...
Income Tax : The tribunal held that once penalty is imposed for non-maintenance of books, a second penalty for non-audit cannot be levied. Levy...
ITAT Mumbai held that set off of loss of Permanent Establishment [PE] against the interest income received from External Commercial Borrowing, on which benefit of concessional rate tax availed, is allowable. Accordingly, appeal allowed to that extent.
ITAT Pune held that delay in filing of an appeal before CIT(A) condoned due to company’s financial position and non-pursuing of appeals by tax consultant. Accordingly, matter remitted to file of CIT(A) for denovo adjudication.
ITAT Rajkot sets aside CIT(A)’s ex parte penalty orders against Sunita Ashokabhai Sharma due to incorrect email service by tax department.
ITAT Jaipur quashes penalty under Section 271E of the Income Tax Act in Anil Sharma vs. ITO due to absent recorded satisfaction.
ITAT Ahmedabad held that since the assessee, being an agriculturist was not well versed with tax proceedings, was unable to file required documents against addition on account of unexplained cash credit u/s. 69A of the Income Tax Act before AO.
ITAT Chennai quashes penalty under sections 271(1)(c) and 271A for AY 2012-13 to 2016-17 in the Srinivasan Chandrasekara case, citing legal deficiencies.
ITAT Raipur held that law will help only those who are vigilant and will not assist the one who are careless. Accordingly, request of assessee to restore matter back not granted as assessee has chosen not to represent its matter for more than 08 years.
Explore amendments to section 253 of Income-tax Act, adjusting time limits for filing appeals to the Income Tax Appellate Tribunal, effective October 2024.
Read the full text of the order from ITAT Agra where penalty u/s 271B was deleted for Tasavver Husain vs ITO. Detailed analysis and conclusion provided.
VDB Infra vs. ITO: ITAT Bangalore case involves TDS deduction dispute resulting in penalty deletion under Section 270A(9)(a) by the tribunal.
