Income Tax : Learn about rectifying mistakes in income tax orders under Section 154, including types of rectifiable orders, responsible authori...
CA, CS, CMA : Discover the complexities of tax compliance for freelancers and gig workers, from understanding income sources to navigating legal...
Income Tax : Understand the penalty for failure to furnish income tax return. Learn about the increased late fees and provisions under Section ...
Income Tax : I have covered only relevant compliances/information useful for Small Manufacturer, Traders only through this article which includ...
Income Tax : While filing your income tax return within due date is important, it does not mean that if for any reason you missed the dead line...
Income Tax : The Finance Bill, 2017 proposes to levy fees of Rs.5,000 in case where return is furnished after the due date but on or before 31S...
Income Tax : ITAT Chennai set aside the order and appeal restored back to the file of AO for denovo assessment, however, cost of Rs. 5,000 impo...
Income Tax : In the abovementioned case ITAT remanded the matter to CIT (A) after considering the fact that no proper opportunity was availed b...
Income Tax : ITAT Ahmedabad held that delay of 244 days in filing of an appeal caused due to genuine hardship faced by the assessee is condonab...
Income Tax : ITAT Agra held that dismissal of appeal as per provisions of section 249(4)(b) for non-payment of advance tax unjustified since en...
Income Tax : Karnataka High Court remanded the matter back to the Assessing Officer since non-response to notice issued under section 148A(d) o...
The ITAT Delhi quashes the penalty imposed under Section 271F against an 82-year-old widow for non-filing of Income Tax Return (ITR) as she had no taxable income.
ITAT Bangalore held that pre-clinical laboratory services rendered by the assessee (non-resident) to its customers in India would not be chargeable to tax in India as the technical services rendered by the affiliates do not “make available” technical knowledge, experience, skill, know-how or process while preparing these reports for their, Indian customers/ clients.
Ignorance of tax obligations on income earned from a partnership doesn’t excuse late filing of Income Tax Returns. ITAT Mumbai upholds Section 271F penalty in a recent case involving an advocate and his late ITR filing.
Nagarathinam Rajendran Vs ITO (ITAT Chennai) Since the assessee could not file his return of income under section 139(1) of the Act, the Assessing Officer issued notice under section 274 r.w.s. 271 F of the Act. There was no response from the assessee against the penalty notice. Since, the assessee failed to file his return […]
ITAT Ahmedabad held that penalties under section 271(1)(b) and section 271F of the Income Tax Act are not leviable on reasonable cause demonstrated by the assessee.
ITAT Rajkot held that penalty under section 271F of the Income Tax Act not leviable as post search there was delay in providing seized documents. Further, Checking, cross checking and reconciliation of datas was a very lengthy process is also a reasonable cause for non-furnishing of income tax return.
ITAT Bangalore held that penalty under section 271F of the Income Tax Act leviable as assessee being a habitual defaulter filed income tax return for four years filed belatedly
Kanhaiya Lal Lalwani Vs ITO (ITAT Jaipur) It is noted that the cost of acquisition of plot as per the assessee was Rs. 555/- purchased on 16-04-1999 and thereafter addition/ improvement of Rs.3,41,000/- was made. In my view, if these benefits were allowed to the assessee then in that eventuality the capital gain arose on […]
Assessee has shown reasonable cause for not filing the return of income before due date of return. ITAT direct AO to delete penalty levied under Section 271F
Held that penalty u/s 271F leviable as the assessee being a co-operative bank failed to furnish annual information annual information return
