Category: Income Tax Cases

Read More: https://www.taxscan.in/chartered-accountants-arrested-and-remanded-to-judicial-custody-for-14-days-gst-dept-response-to-detention-of-2-cas/176763/ Clipped from: https://www.taxscan.in/chartered-accountants-arrested-and-remanded-to-judicial-custody-for-14-days-gst-dept-response-to-detention-of-2-cas/176763/ Top Stories By Rasheela Basheer – On May 21, 2022 11:08 am Finally, the GST Department, has responded to the alleged illegal detention of

lipped from: https://www.taxscan.in/wife-eligible-for-capital-gain-exemption-if-money-given-for-acquisition-of-property-either-directly-to-builder-or-as-reimbursement-to-husband/171942/ Top Stories By Rasheela Basheer – On May 2, 2022 8:50 pm The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the wife is

Clipped from: https://www.taxscan.in/source-of-money-cannot-be-doubted-if-fixed-deposits-are-made-out-of-savings-itat-grants-relief-to-senior-citizen-lady/171535/ Top Stories By Taxscan Team – On April 30, 2022 6:46 pm In a woman-friendly ruling, the Cuttack bench of the Income Tax Appellate Tribunal (ITAT) has held

Read More: https://www.taxscan.in/income-tax-cbdt-eases-compliance-of-tds-tcs/175942/ lipped from: https://www.taxscan.in/income-tax-cbdt-eases-compliance-of-tds-tcs/175942/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=TDS%20/%20TCS Top Stories By Rasheela Basheer – On May 18, 2022 5:26 pm The Central Board of Direct Taxes (CBDT) has issued a circular prescribing the rules

Read More: https://www.taxscan.in/loan-from-close-relatives-friends-cannot-be-treated-as-unexplained-to-invoke-s-68-itat/176004/ Clipped from: https://www.taxscan.in/loan-from-close-relatives-friends-cannot-be-treated-as-unexplained-to-invoke-s-68-itat/176004/ Top Stories By Rasheela Basheer – On May 19, 2022 4:23 pm The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the loan taken

Read More: https://www.taxscan.in/cash-deposit-arising-out-of-sale-of-agricultural-land-cannot-be-treated-as-unexplained-itat/176059/ Clipped from: https://www.taxscan.in/cash-deposit-arising-out-of-sale-of-agricultural-land-cannot-be-treated-as-unexplained-itat/176059/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Agricultural%20Land Top Stories By Taxscan Team – On May 19, 2022 2:37 pm The Income Tax Appellate Tribunal (ITAT), Chennai bench, while allowing an appeal

lipped from: https://www.taxscan.in/husband-can-claim-capital-gain-exemption-for-investment-made-in-the-name-of-wife-itat/175637/ Top Stories By Kalyani B. Nair – On May 17, 2022 5:32 pm The Income Tax Appellate Tribunal (ITAT), Jaipur bench consisting of DR. S. Seethalakshmi, Judicial

lipped from: https://www.taxscan.in/re-assessment-based-on-wrong-assumption-and-information-from-another-assessing-officer-is-invalid-itat/175101/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Re-Assessment Top Stories By Rasheela Basheer – On May 16, 2022 11:02 am The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the reopening of assessment based on wrong

Read More: https://www.taxscan.in/income-tax-dept-failed-to-give-minimum-time-to-respond-delhi-hc-quashes-s-148-notice/175092/ lipped from: https://www.taxscan.in/income-tax-dept-failed-to-give-minimum-time-to-respond-delhi-hc-quashes-s-148-notice/175092/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Income%20Tax%20Dept Top Stories By Taxscan Team – On May 16, 2022 2:34 pm In an assessee-favouring ruling, the Delhi High Court has quashed a notice under

Read More: https://www.taxscan.in/nri-couldnt-prove-source-of-cash-deposit-during-demonetization-itat-upholds-addition/175912/ lipped from: https://www.taxscan.in/nri-couldnt-prove-source-of-cash-deposit-during-demonetization-itat-upholds-addition/175912/ Top Stories By Rasheela Basheer – On May 18, 2022 6:03 pm The Income Tax Appellate Tribunal (ITAT), Bangalore has upheld an addition against

Read More: https://www.taxscan.in/mere-change-of-opinion-cannot-be-a-reason-to-believe-escapement-of-income-to-initiate-re-assessment-delhi-hc/175544/ Clipped from: https://www.taxscan.in/mere-change-of-opinion-cannot-be-a-reason-to-believe-escapement-of-income-to-initiate-re-assessment-delhi-hc/175544/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Change%20of%20Opinion Top Stories By Rasheela Basheer – On May 17, 2022 3:01 pm The division bench of the Delhi High Court while dismissing an appeal

Clipped from: https://www.taxscan.in/re-assessment-order-passed-without-allowing-assessee-to-file-objection-is-invalid-delhi-hc/175598/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Re-Assessment%20Order Top Stories By Rasheela Basheer – On May 18, 2022 12:00 pm The Delhi High Court has held that the re-assessment under section 147/148 of the Income

Clipped from: https://www.taxscan.in/drawings-made-for-non-business-purposes-are-not-allowable-as-income-tax-deduction-itat/175739/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Deduction Top Stories By Taxscan Team – On May 18, 2022 12:50 pm The Visakhapatnam bench of the Income Tax Appellate Tribunal (ITAT) has held that drawings

Clipped from: https://www.taxscan.in/rental-income-from-building-cannot-be-treated-as-business-income-since-assessee-is-not-involved-in-business-of-leasing-itat/175661/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Rental%20Income Top Stories By Rasheela Basheer – On May 18, 2022 1:53 pm The Income Tax Appellate Tribunal (ITAT), Vishakhapatnam bench has held that the rental income

lipped from: https://www.taxscan.in/depreciation-allowable-on-goodwill-itat/175818/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Goodwill Top Stories By Rasheela Basheer – On May 18, 2022 1:25 pm The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the depreciation is

Clipped from: https://www.financialexpress.com/economy/tax-reassessment-supreme-court-sets-aside-hc-orders-revives-show-cause-notices/2513244/ The SC order would mean that the the change in law can’t be an alibi for taxpayers to escape the proceedings initiated via

Clipped from: https://economictimes.indiatimes.com/news/economy/finance/tax-reassessment-notices-issued-from-april-21-upheld-by-sc/articleshow/91329762.cms Synopsis In the budget for FY22, the government had reduced this reopening period to three years with effect from April 1, 2021, to

Clipped from: https://economictimes.indiatimes.com/news/india/tax-tribunals-views-differ-in-thakkar-ruling/articleshow/91220256.cms Synopsis The cases relate to South Mumbai residents, Dilip Thakkar, a reputed chartered accountant, and his wife Indira Thakkar whose father had set