Income Tax : Discover penalties and prosecutions under the Income Tax Act, 1961, including default conditions, quantum of penalties, and potent...
Income Tax : Learn about penalty provisions under the IT Act, including penalties for defaults in tax payment, income reporting, and more. Key ...
Income Tax : Explore how seizure of documents can impact audit deadlines under Section 44AB and defenses against Section 271B penalties for aud...
Income Tax : Dive into Section 271B's mandates, penalties, and exemptions under the Income Tax Act. Explore real cases, challenges, and strateg...
Income Tax : Explore recent ITAT judgment in Rakesh Kr. Jha vs. ITO, delving into interpretation of Sections 271A and 271B, highlighting confli...
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 : Delhi ITAT overturns penalty on ex-serviceman and Mother Dairy agent for non-audit under Section 271B, citing his limited commissi...
Income Tax : ITAT Delhi cancels ₹1,09,807 penalty u/s 271B for Ved Singh, acknowledging his commission-based income and reasonable belief on ...
Income Tax : ITAT Delhi rules on Sh. Nikki Tyagi's appeal against penalty under Sec. 271B for failure to audit accounts due to turnover limits....
Income Tax : ITAT Delhi hears Mohd Javed's appeal against penalty under Sec. 271B, assessing the nature of cash deposits as agent turnover vs. ...
Income Tax : ITAT Delhi rules in favor of Dharam Singh, clarifying turnover calculation for commission-based businesses under section 271B....
Delhi ITAT overturns penalty on ex-serviceman and Mother Dairy agent for non-audit under Section 271B, citing his limited commission income and absence of books.
ITAT Delhi cancels ₹1,09,807 penalty u/s 271B for Ved Singh, acknowledging his commission-based income and reasonable belief on tax audit requirement.
ITAT Delhi rules on Sh. Nikki Tyagi’s appeal against penalty under Sec. 271B for failure to audit accounts due to turnover limits. Clarifies income on commission basis.
ITAT Delhi hears Mohd Javed’s appeal against penalty under Sec. 271B, assessing the nature of cash deposits as agent turnover vs. personal income.
ITAT Delhi rules in favor of Dharam Singh, clarifying turnover calculation for commission-based businesses under section 271B.
ITAT Jaipur held that mere entering into the Development Agreement would not permit invocation of section 45(2) of the Income Tax Act. There is no positive act which indicates that the assessee has treated capital asset as stock-in-trade.
Discover penalties and prosecutions under the Income Tax Act, 1961, including default conditions, quantum of penalties, and potential legal consequences.
ITAT Nagpur held that once the computation of income is approved by the assessee before CIT(A) the same cannot be argued against the Tribunal. Accordingly, computation of income directed by CIT(A) upheld.
Learn about penalty provisions under the IT Act, including penalties for defaults in tax payment, income reporting, and more. Key FAQs and amounts covered.
Explore how seizure of documents can impact audit deadlines under Section 44AB and defenses against Section 271B penalties for audit delays.
