lipped from: https://taxguru.in/income-tax/inadvertent-mistake-committed-filing-return-take-away-rights-assessee.html J. Doshi & Co. Vs ITO (ITAT Rajkot) ITAT Rajkot held that department cannot take away rights of the assessee just by inadvertent
Category: Income Tax Cases
Income Tax Authorities should Charge Legitimate Taxes from Taxpayers: ITAT
Clipped from: https://www.taxscan.in/income-tax-authorities-should-charge-legitimate-taxes-from-taxpayers-itat/237984/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Income%20Tax%20Authorities%20shoul Top Stories By Taxscan Team – On December 24, 2022 10:09 am In a recent ruling while slamming the income tax department for ignoring the grievance
S. 201 Income Tax Act is not to punish or Prosecute Assessee for his lapses for TDS Responsibilities: ITAT grants relief to ICICI Securities
Clipped from: https://www.taxscan.in/s-201-income-tax-act-is-not-to-punish-or-prosecute-assessee-for-his-lapses-for-tds-responsibilities-itat-grants-relief-to-icici-securities/237103/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=S.%20201%20Income%20Tax%20Act Top Stories By Kalyani B Nair – On December 22, 2022 3:51 pm The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), rued that Section 201 Income Tax
Re-Assessment cannot be based on Mere ‘Change of Opinion’: Telangana HC
Clipped from: https://www.taxscan.in/re-assessment-cannot-be-based-on-mere-change-of-opinion-telangana-hc/237657/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Re-Assessment Top Stories By Navasree A M – On December 23, 2022 12:51 pm The Telangana High Court (HC), bench of Chief Justice Ujjal Bhuyan and Justice
No Effort by AO to SendDraft Assessment Order to Correct Address: ITAT quashes Order
Clipped from: https://www.taxscan.in/no-effort-by-ao-to-send-draft-assessment-order-to-correct-address-itat-quashes-order/236636/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=No%20Effort Top Stories By Kalyani B Nair – On December 22, 2022 11:43 am The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), quashed assessment order on the ground that
Tax Query: Will the sale of shares, transferred within family, attract tax? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-will-the-sale-of-shares-transferred-within-family-attract-tax/article66266442.ece Sale of such shares is taxable as Income from Capital Gains My mother-in-law wants to transfer equity shares to my name or my
Loss on Forex fluctuations on Forward Contracts are Deductible u/s 37(1) of Income Tax Act: Delhi HC
Clipped from: https://www.taxscan.in/loss-on-forex-fluctuations-on-forward-contracts-are-deductible-u-s-371-of-income-tax-act-delhi-hc/236418/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Loss%20on%20Forex%20fluctuations Top Stories By Navasree A M – On December 20, 2022 6:12 pm In a recent ruling of Delhi High Court (HC) of Justice Vibhu Bakhru
UPS and Printers are part of Computer Systems, 60 % Depreciation allowable: ITAT
Clipped from: https://www.taxscan.in/ups-and-printers-are-part-of-computer-systems-60-depreciation-allowable-itat/236533/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=UPS%20and%20Printers Top Stories By Yogitha S. Yogesh – On December 21, 2022 10:49 am The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that UPS and Printers are
Relief to Mahindra and Mahindra: ITAT directs AO to delete Disallowance made u/s 40(a)(ia) of Income Tax Act
Clipped from: https://www.taxscan.in/relief-to-mahindra-and-mahindra-itat-directs-ao-to-delete-disallowance-made-u-s-40aia-of-income-tax-act/236174/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Relief%20to%20Mahindra Top Stories By Kalyani B Nair – On December 20, 2022 2:07 pm In a major relief to Mahindra & Mahindra Ltd, the appellant, the Mumbai Bench of
Proceedings u/s 153C of Income Tax Act in absence of any Incriminating Material is Bad in Law: ITAT
Clipped from: https://www.taxscan.in/proceedings-u-s-153c-of-income-tax-act-in-absence-of-any-incriminating-material-is-bad-in-law-itat/236156/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Proceedings Top Stories By Kalyani B Nair – On December 20, 2022 2:35 pm The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that Proceedings under Section 153C of the
Repairs and Maintenance Expenditure in Rented Showroom and Workshop amounts to Revenue Expenditure, can allow Disallowance u/s 30 (a ) (i): ITAT
Clipped from: https://www.taxscan.in/repairs-and-maintenance-expenditure-in-rented-showroom-and-workshop-amounts-to-revenue-expenditure-can-allow-disallowance-u-s-30a-i-itat/235710/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Repairs%20and%20Maintenance Top Stories By Yogitha S. Yogesh – On December 20, 2022 10:17 am The Pune bench of the Income Tax Appellate Tribunal ( ITAT ) has held that repairs and
Addition u/s 68 based on Cash Deposit not allowable in the Absence of Corroborative Evidence: ITAT
Clipped from: https://www.taxscan.in/addition-u-s-68-based-on-cash-deposit-not-allowable-in-the-absence-of-corroborative-evidence-itat/235716/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Addition%20u/s%2068 Top Stories By Yogitha S. Yogesh – On December 20, 2022 10:44 am The Pune bench of the Income Tax Appellate Tribunal(ITAT) has held that addition under section 68
Insurance Premium for paid for Keyman Insurance Policy of LIC, allowable as Expenses: ITAT
Clipped from: https://www.taxscan.in/insurance-premium-for-paid-for-keyman-insurance-policy-of-lic-allowable-as-expenses-itat/234224/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Insurance%20Premium Income Tax By Kalyani B Nair – On December 15, 2022 3:33 pm The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), held that Insurance Premium for
Reasons recorded for Reassessment cannot be Substituted, Added or Deleted: ITAT
Clipped from: https://www.taxscan.in/reasons-recorded-for-reassessment-cannot-be-substituted-added-or-deleted-itat/217482/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Reasons%20recorded%20for%20Reassessment Top Stories By Yogitha S. Yogesh – On December 12, 2022 5:40 pm The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the reasons
Benefit of CBDT Circular providing Ceiling on Holding of Jewellery can be Extended to Jewellery held by Minor Son and Daughter: ITAT [Read Order]
Read More: https://www.taxscan.in/benefit-of-cbdt-circular-providing-ceiling-on-holding-of-jewellery-can-be-extended-to-jewellery-held-by-minor-son-and-daughter-itat/233868/ Clipped from: https://www.taxscan.in/benefit-of-cbdt-circular-providing-ceiling-on-holding-of-jewellery-can-be-extended-to-jewellery-held-by-minor-son-and-daughter-itat/233868/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Benefit%20of%20CBDT%20Circular Top Stories By Rasheela Basheer – On December 14, 2022 5:04 pm The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the benefit of
Joint Commissioner sanctioned Re-open Notice u/s 148 after expiry of 4 yrs: ITAT quashes Assessment Order being Violative Sec 151
Clipped from: https://www.taxscan.in/joint-commissioner-sanctioned-re-open-notice-u-s-148-after-expiry-of-4-yrs-itat-quashes-assessment-order-being-violative-sec-151/193782/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Joint%20Commissioner%20sanctioned Top Stories By Taxscan Team – On December 14, 2022 5:37 pm The Income Tax Appellate Tribunal ( ITAT ) Ahmedabad Bench has held that Joint Commissioner sanctioned
Condition of Proving ‘Source of Source of Funds’ under 68 not applicable to Non-Residents: ITAT deletes Income Addition*
Clipped from: https://www.taxscan.in/condition-of-proving-source-of-source-of-funds-under-68-not-applicable-to-non-residents-itat-deletes-income-tax-addition/233842/ Top Stories By Yogitha S. Yogesh – On December 14, 2022 5:40 pm The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the condition of proving
Order passed without considering objection filed by petitioner against Notice u/s 148A(b) not valid: Calcutta HC–TAXSCAN
Clipped from: https://www.taxscan.in/order-passed-without-considering-objection-filed-by-petitioner-against-notice-u-s-148ab-not-valid-calcutta-hc/231671/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Order%20passed Top Stories By Yogitha S. Yogesh – On December 7, 2022 11:25 am In its recent order, the Calcutta High Court (HC) has held that the
Calcutta High Court (HC) has held that the order passed without considering the objection filed by the petitioner against notice u/s 148A(b) of the Income Tax Act,1961 is not valid.
Clipped from: https://www.taxscan.in/order-passed-without-considering-objection-filed-by-petitioner-against-notice-u-s-148ab-not-valid-calcutta-hc/231671/ Top Stories By Yogitha S. Yogesh – On December 7, 2022 11:25 am In its recent order, the Calcutta High Court (HC) has held that the
Order passed without considering objection filed by petitioner against Notice u/s 148A(b) not valid: Calcutta HC
Clipped from: https://www.taxscan.in/order-passed-without-considering-objection-filed-by-petitioner-against-notice-u-s-148ab-not-valid-calcutta-hc/231671/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Order%20passed Top Stories By Yogitha S. Yogesh – On December 7, 2022 11:25 am In its recent order, the Calcutta High Court (HC) has held that the
