Category: Income Tax Cases
CBDT issues Circular Condoning Delay for Claiming Deduction u/s 80P for A.Y. 2018-19 to A.Y. 2022-23
Read More: https://www.taxscan.in/cbdt-issues-circular-condoning-delay-for-claiming-deduction-u-s-80p-for-a-y-2018-19-to-a-y-2022-23/303773/ Clipped from: https://www.taxscan.in/cbdt-issues-circular-condoning-delay-for-claiming-deduction-u-s-80p-for-a-y-2018-19-to-a-y-2022-23/303773/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=CBDT%20issues%20Circular%20Condoning%20Delay%20for%20Claiming%20Deduction%20u/s%2080P%20for%20A.Y.%202018-19%20to%20A.Y.%202022-23 Top Stories The Central Board of Direct Taxes (CBDT) vide circular number 13/2023 issued on 26th July 2023 condemned the delay for claiming
Issuance of Cheque to Associate Concerns from OCC Account cannot be Construed as Diversion of WC Loan Fund: ITAT deletes addition of Rs. 79.15cr
Clipped from: https://www.taxscan.in/issuance-of-cheque-to-associate-concerns-from-occ-account-cannot-be-construed-as-diversion-of-wc-loan-fund-itat-deletes-addition-of-rs-79-15cr/303040/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Issuance%20of%20Cheque%20to%20Associate%20Concerns%20from%20OCC%20Account%20cannot%20be%20Construed%20as%20Diversion%20of%20WC%20Loan%20Fund:%20ITAT%20deletes%20addition%20of%20Rs.%2079.15cr Top Stories The Chennai bench of Income Tax Appellate Tribunal (ITAT) observed that issuance of cheque to associate concerns from OCC account cannot be construed as diversion
1,103 MSME claims pending under Vivad Se Vishwas dispute resolution scheme; this many units supported | The Financial Express
https://www.financialexpress.com/industry/sme/1103-msme-claims-pending-under-vivad-se-vishwas-dispute-resolution-scheme-this-many-units-supported/3186747/ Clipped from: https://www.financialexpress.com/industry/sme/1103-msme-claims-pending-under-vivad-se-vishwas-dispute-resolution-scheme-this-many-units-supported/3186747/ Under the scheme, launched on April 17, MSMEs unable to execute government contracts during the Covid period were allowed a 95 per
👍👍👍👍👍👍👍CPC not within Jurisdiction to Disallow Deduction u/s 80P of Income Tax Act: ITAT Allows West Bengal Cooperative Society’s Claim
Clipped from: https://www.taxscan.in/cpc-not-within-jurisdiction-to-disallow-deduction-u-s-80p-of-income-tax-act-itat-allows-west-bengal-cooperative-societys-claim/303261/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=CPC%20not%20within%20Jurisdiction%20to%20Disallow%20Deduction%20u/s%2080P%20of%20Income%20Tax%20Act:%20ITAT%20Allows%20West%20Bengal%20Cooperative%20Society%27s%20Claim Top Stories The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the Central Processing Centre (CPC) was not within its jurisdiction
Calcutta HC Sets Aside Section 148A(d) Order – Violation of Natural Justice
https://taxguru.in/income-tax/calcutta-hc-sets-aside-section-148ad-order-violation-natural-justice.html Clipped from: https://taxguru.in/income-tax/calcutta-hc-sets-aside-section-148ad-order-violation-natural-justice.html Sushil Jaiswal Vs Union of India (Calcutta High Court) In the case of Sushil Jaiswal Vs Union of India, the Calcutta High
Failure to explain Credit Card Payments with Supporting Documentary Evidence: ITAT Deletes partial Addition
Clipped from: https://www.taxscan.in/failure-to-explain-credit-card-payments-with-supporting-documentary-evidence-itat-deletes-partial-addition/302781/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Failure%20to%20explain%20Credit%20Card%20Payments%20with%20Supporting%20Documentary%20Evidence:%20ITAT%20Deletes%20partial%20Addition Top Stories By Aparna. M – On July 23, 2023 11:30 am – 2 mins read The Income Tax Appellate Tribunal (ITAT) Hyderabad Bench held that the assessee failed to explain
Issue of Notice u/s 143(2) of Income Tax Act is mandatory requirement for framing reassessment order, not curable as per S.292BB Act:ITAT
Clipped from: https://www.taxscan.in/issue-of-notice-u-s-1432-of-income-tax-act-is-mandatory-requirement-for-framing-reassessment-order-not-curable-as-per-s-292bb-act-itat/302795/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Issue%20of%20Notice%20u/s%20143(2)%20of%20Income%20Tax%20Act%20is%20mandatory%20requirement%20for%20framing%20reassessment%20order,%20not%20curable%20as%20per%20S.292BB%20Act:ITAT Top Stories By Aparna. M – On July 23, 2023 12:30 pm – 2 mins read The Income Tax Appellate Tribunal (ITAT) Delhi Bench ruled that issue of notice under Section
Invocation of extended period of limitation in absence of intention to evade duty is unsustainable
https://taxguru.in/excise-duty/invocation-extended-period-limitation-absence-intention-evade-duty-unsustainable.html Clipped from: https://taxguru.in/excise-duty/invocation-extended-period-limitation-absence-intention-evade-duty-unsustainable.html Pawan Kumar Sharma Vs Commissioner (Meghalaya High Court) Meghalaya High Court held that extended period of limitation as per proviso to section
Assessment Order passed in Violation of Natural Justice Principle: ITAT remands Matter to CIT(A)
Clipped from: https://www.taxscan.in/assessment-order-passed-in-violation-of-natural-justice-principle-itat-remands-matter-to-cita/302340/ Top Stories The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has allowed the appeal of an assessee and remanded the matter back to
👍👍👍👍👍Reopening of assessment u/s 148 for mere change of opinion is unsustainable
https://taxguru.in/income-tax/re-opening-assessment-u-s-148-mere-change-opinion-unsustainable.html Clipped from: https://taxguru.in/income-tax/re-opening-assessment-u-s-148-mere-change-opinion-unsustainable.html Mukand Limited Vs Union of India (Bombay High Court) Bombay High Court held re-opening of assessment under section 148 of the Income
Only Profit Element of Bogus Purchase can be Added to Taxable Income Under Income Tax Act when Assessee Reconciled the Stock: Bombay HC
Read More: https://www.taxscan.in/only-profit-element-of-bogus-purchase-can-be-added-to-taxable-income-under-income-tax-act-when-assessee-reconciled-the-stock-bombay-hc/301700/ Clipped from: https://www.taxscan.in/only-profit-element-of-bogus-purchase-can-be-added-to-taxable-income-under-income-tax-act-when-assessee-reconciled-the-stock-bombay-hc/301700/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Only%20Profit%20Element%20of%20Bogus%20Purchase%20can%20be%20Added%20to%20Taxable%20Income%20Under%20Income%20Tax%20Act%20when%20Assessee%20Reconciled%20the%20Stock:%20Bombay%20HC Top Stories The Bombay High Court has held that only the profit element of a bogus purchase can be added to
Mere incorrect claims in ITR not amounts to concealment of income
https://taxguru.in/income-tax/incorrect-claim-deduction-expenses-itr-amount-concealment-income-furnishing-inaccurate-particulars-itat-sets-nfac-order.html Clipped from: https://taxguru.in/income-tax/incorrect-claim-deduction-expenses-itr-amount-concealment-income-furnishing-inaccurate-particulars-itat-sets-nfac-order.html Kongnoli Sarva Seva Society Ltd Vs ITO (ITAT Pune) Introduction: The Income Tax Appellate Tribunal (ITAT) in Pune recently delivered an impactful ruling
Cash deposit against Sum received from mother-in-law – ITAT directs re-adjudication
https://taxguru.in/income-tax/cash-deposit-sum-received-mother-in-law-itat-directs-re-adjudication.html Clipped from: https://taxguru.in/income-tax/cash-deposit-sum-received-mother-in-law-itat-directs-re-adjudication.html Pawanveer Singh Vs ITO (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT) of Delhi recently delivered a crucial order in the Pawanveer
TDS Mismatch in 26AS and Profit & Loss Account: ITAT Orders Reassessment on Lack of Substantiating Evidence
Clipped from: https://www.taxscan.in/tds-mismatch-in-26as-and-profit-loss-account-itat-orders-reassessment-on-lack-of-substantiating-evidence/301323/ Top Stories The Income Tax Appellate Tribunal of Kolkata Bench has issued a directive for the reassessment of a case where there was a discrepancy
AO Fails to Follow Procedures to Proceed Reassessment Proceedings under Income Tax Act; issued notices to different PAN Number: ITAT quashes notice u/s 148
Read More: https://www.taxscan.in/ao-fails-to-follow-procedures-to-proceed-reassessment-proceedings-under-income-tax-act-issued-notices-to-different-pan-number-itat-quashes-notice-u-s-148/301078/ Clipped from: https://www.taxscan.in/ao-fails-to-follow-procedures-to-proceed-reassessment-proceedings-under-income-tax-act-issued-notices-to-different-pan-number-itat-quashes-notice-u-s-148/301078/ Top Stories The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has quashed the notice issued under Section 148 of the Income Tax Act,
👍👍👍👍👍👍👍यूट्यूबवरच्या कमाईवरही आता इन्कम टॅक्स विभागाचा डोळा; पै न् पैचा हिशेब ठेवा अन्यथा…| | Loksatta
https://www.loksatta.com/business/finance/the-income-tax-department-now-has-an-eye-on-youtube-earnings-keep-track-of-money-otherwise-vrd-88-3798765/ Clipped from: https://www.loksatta.com/business/finance/the-income-tax-department-now-has-an-eye-on-youtube-earnings-keep-track-of-money-otherwise-vrd-88-3798765/ तस्लीम नावाच्या यूट्यूबरच्या घरावर प्राप्तिकर विभागाने छापा टाकला. छाप्यात घरातून २४ लाखांची रोकड प्राप्तिकर विभागाकडून जप्त करण्यात आली आहे. यूट्यूबवरच्या कमाईवरही आता
Mere Chartered Accountant’s certificate without documentary evidence is not sufficient for duty treatment of obsolete stock
https://taxguru.in/excise-duty/mere-chartered-accountants-certificate-documentary-evidence-sufficient-duty-treatment-obsolete-stock.html Clipped from: https://taxguru.in/excise-duty/mere-chartered-accountants-certificate-documentary-evidence-sufficient-duty-treatment-obsolete-stock.html Owens Corning India Ltd Vs Commissioner of Central Tax (CESTAT Mumbai) CESTAT Mumbai in the matter of obsolete stock usage vis-à-vis reversal
