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 : Learn about the penalties and prosecutions under the Income Tax Act of 1961 for various defaults and offenses. Find out the fines ...
Income Tax : Apart from penalty for various defaults, the Income-tax Act also contains provisions for launching prosecution proceedings against...
Income Tax : Apart from levy of penalty for various defaults by the taxpayer, the Income-tax Law also contains provisions for launching prosecu...
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 : Read the full text of the order from ITAT Agra where penalty u/s 271B was deleted for Tasavver Husain vs ITO. Detailed analysis an...
Income Tax : Detailed analysis of the appeal against a penalty imposed under Section 271B of the Income Tax Act by the ITAT Delhi in the case o...
Income Tax : Mumbai ITAT sets aside penalty under section 271B, citing previous penalty under section 271A for non-maintenance of accounts in H...
Income Tax : ITAT Jaipur held that assessee failed to get its books of accounts audited based on a reasonable cause. Accordingly, penalty under...
Income Tax : ITAT Mumbai held that exclusion of comparables for the reason that those companies are loss making or low profit making is not cor...
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.
Detailed analysis of the appeal against a penalty imposed under Section 271B of the Income Tax Act by the ITAT Delhi in the case of Sanjeev Kumar Goyal vs ITO, including the reasons for the penalty dismissal.
Dive into Section 271B’s mandates, penalties, and exemptions under the Income Tax Act. Explore real cases, challenges, and strategies for adherence.
Mumbai ITAT sets aside penalty under section 271B, citing previous penalty under section 271A for non-maintenance of accounts in Haresh Ghanshyamdas Makhija vs ITO case.
ITAT Jaipur held that assessee failed to get its books of accounts audited based on a reasonable cause. Accordingly, penalty under section 271B of the Income Tax Act for failure to get books of account audited not leviable as assessee reasonable cause shown.
ITAT Mumbai held that exclusion of comparables for the reason that those companies are loss making or low profit making is not correct. Accordingly, TPO directed to include these comparables and re-compute the Arm’s Length Price (ALP).
Kerala High Court instructs prompt consideration of stay application in tax dispute involving non-filing of income return under Section 139 of Income Tax Act.
Explore recent ITAT judgment in Rakesh Kr. Jha vs. ITO, delving into interpretation of Sections 271A and 271B, highlighting conflicting views among High Courts.
ITAT Delhi held that disallowance under section 40A(2)(b) of the Income Tax Act on merely estimating that more income should have been earned from sub-contracting without bringing any comparable figures is unsustainable in law.
Vakrangee Foundation faces a penalty for non-compliance with tax audit provisions under Section 44AB. ITAT rules that Section 2(15) does not exempt charitable institutions.
