Income Tax : Learn the difference between Sections 80TTA and 80TTB, including eligibility, deduction limits, and the types of interest income c...
Income Tax : Learn about key deductions under Section 80 for Income Tax Returns (ITR) filing. Explore benefits, limits, and eligibility criteri...
Income Tax : Explore top tax-saving options beyond Section 80C for FY 2023-24, including NPS, health insurance premiums, medical expenses, home...
Income Tax : Discover tax-saving opportunities with Section 80D for health insurance premiums and Section 80TTA/80TTB for bank interest. Ensure...
Income Tax : Avoid common mistakes while filing your ITR. Select the correct form, match income with Form 16 and Form 26AS, disclose necessary ...
Income Tax : The Delhi ITAT upheld the addition of deemed house property income after finding that the assessee failed to support his claims wi...
Income Tax : The dispute concerned restriction of leave encashment exemption to ₹3 lakh. The Tribunal allowed the full claim after applying t...
Income Tax : The Tribunal ruled that a flat 15% profit estimation was excessive where all contract receipts were received through banking chann...
Income Tax : The Tribunal examined whether foreign assignment salary credited in India is taxable. It held that salary for services rendered ou...
Income Tax : The Tribunal held that addition cannot be sustained merely on the basis of an uncorroborated statement recorded from another perso...
Income Tax : In Circular No.1/2019 dated 1st January, 2019 on the above-mentioned subject, the provisions of section 8OTTB were inadvertently n...
Learn the difference between Sections 80TTA and 80TTB, including eligibility, deduction limits, and the types of interest income covered. Understand which provision applies to you and when these deductions cannot be claimed.
The Delhi ITAT upheld the addition of deemed house property income after finding that the assessee failed to support his claims with evidence. The Tribunal held that there was no reason to interfere with the CIT(A)’s factual findings.
The dispute concerned restriction of leave encashment exemption to ₹3 lakh. The Tribunal allowed the full claim after applying the revised exemption limit of ₹25 lakh.
The Tribunal ruled that a flat 15% profit estimation was excessive where all contract receipts were received through banking channels with TDS deductions. It directed recomputation of income at 7% of turnover.
The Tribunal examined whether foreign assignment salary credited in India is taxable. It held that salary for services rendered outside India is not taxable, even if received in India.
The Tribunal held that addition cannot be sustained merely on the basis of an uncorroborated statement recorded from another person. In absence of independent evidence, the ₹1.80 crore addition was deleted.
ITAT Pune held that issue of taxability of ex-gratia payment to be decided based on identical judgement as decided by coordinate bench of Tribunal in Mahadev Vasant Dhangekar. Accordingly, matter remanded back.
ITAT Delhi ruled that WhatsApp chats recovered during a search, if corroborated by context and left unrebutted by the assessee, create a statutory presumption of correctness under Section 292C, leading to a sustained addition of ₹9 lakh as unexplained money. The Tribunal also directed the allowance of an 80TTA deduction claim for the abated assessment year (AY 2018-19).
The ITAT Pune restores a case for fresh assessment after an updated tax return was filed with errors by a consultant, ruling that a taxpayer cannot be taxed on income they did not earn.
ITAT Bangalore held that cash gifts received from relatives and friends during wedding cannot be treated as unexplained money u/s. 69A of the Income Tax Act merely because each donor is not individually verified. Accordingly, addition directed to be deleted.
