Clipped from: https://www.taxscan.in/satisfaction-to-be-recorded-by-the-ao-before-issue-of-153c-notice-itat/207327/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Satisfaction%20to%20be%20Recorded By Gayathri C.H – On September 26, 2022 4:42 pm The Income Tax Appellate Tribunal ( ITAT ), Visakhapatnam Bench, has recently in the appeals filed before
Category: Income Tax Cases
*******HC explains Provisions of Section 148A of Income Tax Act, 1961–TAXGURU.IN
Clipped from: https://taxguru.in/income-tax/hc-explains-provisions-section-148a-income-tax-act-1961.html?utm_source=feedburner&utm_medium=email Abdul Majeed Vs ITO (Rajasthan High Court) High Court held that while passing an order under Section 148A of the Act, the authority
*******ITAT okays adding betting earnings to business income – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/sports/itat-okays-adding-betting-earnings-to-business-income/article65630430.ece Rules estimate of income from betting as ‘fair and reasonable’ Betting is illegal but there is nothing wrong in adding the earnings from
*****SC says taxpayer needs to satisfy twin conditions to claim set-off losses | The Financial Express
clipped from: https://www.financialexpress.com/money/income-tax/sc-says-taxpayer-needs-to-satisfy-twin-conditions-to-claim-set-off-losses/2592075/ A Bench led by Justice MB Shah held that the HC had committed a grave error and its view “is erroneous and contrary
Loss from share trading can be set off against business income-TAXGURU
Clipped from: https://taxguru.in/income-tax/loss-share-trading-set-off-business-income.html?utm_source=feedburner&utm_medium=email Jitendra Manilal Malkan Vs ITO (ITAT Ahmedabad) It is observed that during the year the assessee had purchased 34 different scripts and out
Miscellaneous expenses Paid by Cheques based on Self-Made Voucher allowable–TAXGURU
Clipped from: https://taxguru.in/income-tax/miscellaneous-expenses-paid-cheques-based-self-made-voucher-allowable.html?utm_source=feedburner&utm_medium=email Thermon Heat Tracers Pvt. Ltd. Vs JCIT (ITAT Pune) ITAT held that miscellaneous expenses Paid Through Cheques Based On Self-Made Voucher Allowable for
Cash Gift taxable in the year of receipt and not in year it was traced–TAXGURU
Clipped from: https://taxguru.in/income-tax/cash-gift-taxable-year-receipt-year-traced.html?utm_source=feedburner&utm_medium=email Gaurav Agarwal Vs DCIT (ITAT Lucknow) From the examination of documents found during search and seizure operation u/s. 132 of the Act the
****Allahabad HC directs Centre, Tax Dept to take action against officials for issuing order despite adverse opinion – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/allahabad-hc-directs-centre-tax-dept-to-take-action-against-officials-for-issuing-order-despite-adverse-opinion/article65469895.ece Allahabad High Court has directed the Income Tax Department to initiate appropriate proceedings against the tax officials who passed an order against an
Chartered Accountants Arrested and Remanded to Judicial Custody for 14 Days: GST Dept response to Detention of 2 CAs-TAXSCAN
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
Wife eligible for Capital Gain Exemption If Money given for Acquisition of Property either directly to Builder or as Reimbursement to Husband-TAXSCAN
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
Source of Money cannot be doubted If Fixed Deposits are made out ofSavings: ITAT grants Relief to Senior Citizen Lady-TAXSCAN
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
Income Tax: CBDT eases Compliance of TDS / TCS [Read Circular]–TAXSCAN
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
Loan from Close Relatives & Friends cannot be treated as ‘Unexplained’ to invoke S. 68: ITAT [Read Order]–TAXSCAN
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
Cash Deposit arising out of Sale of Agricultural Land cannot be treated as Unexplained: ITAT [Read Order]–Taxscan
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
*****Husband can claim Capital Gain Exemption for Investment made in the name of Wife: ITAT–TAXSCAN
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
*****Re-Assessment based on Wrong Assumption and Information from Another Assessing Officer is Invalid: ITAT
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
*****Income Tax Dept failed to give Minimum Time to Respond: Delhi HC quashes S. 148 Notice [Read Order]–TAXSCAN
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
*****NRI couldn’t Prove Source of Cash Deposit during Demonetization: ITAT upholds Addition [Read Order]–TAXSCAN
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
Mere ‘Change of Opinion’ cannot be a ‘Reason to Believe’ Escapement of Income to Initiate Re-Assessment: Delhi HC [Read Order]–TAXSCAN
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
*****Re-Assessment Order passed without allowing Assessee to file Objection is Invalid: Delhi HC
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
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