Clipped from: https://www.taxscan.in/rejection-of-appeal-by-cita-on-ground-of-delay-in-filing-appeal-by-assessee-itat-directs-re-adjudication/294114/ The Chennai bench of the Income Tax Appellate Tribunal (ITAT) directed the Commissioner of Income Tax (Appeals) to re-adjudicate the matter by condoning the delay
Category: Income Tax Cases
👍No Audit can be Made u/s 44AB of Income Tax Act When Assessee Has Not Maintain Books of Account: ITAT
Read More: https://www.taxscan.in/no-audit-can-be-made-u-s-44ab-of-income-tax-act-when-assessee-has-not-maintain-books-of-account-itat/292705/ Clipped from: https://www.taxscan.in/no-audit-can-be-made-u-s-44ab-of-income-tax-act-when-assessee-has-not-maintain-books-of-account-itat/292705/ The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT) held that no audit can be made under section 44AB of the
👍👍👍👍👍👍👍Order u/s 148A(d) of Income Tax Act is not final Assessment Order, no Income Tax Demand arises: Calcutta HC
Read More: https://www.taxscan.in/order-u-s-148ad-of-income-tax-act-is-not-final-assessment-order-no-income-tax-demand-arises-calcutta-hc/289299/ Clipped from: https://www.taxscan.in/order-u-s-148ad-of-income-tax-act-is-not-final-assessment-order-no-income-tax-demand-arises-calcutta-hc/289299/ The Calcutta High Court in a recent decision observed that the order under Section 148A(d) of the Income Tax Act, 1961 is
Assessing Officer Cannot Withdraw or Modify or Substitute Assessment Order Passed u/s 143(3) with another Assessment Order: ITAT
Clipped from: https://www.taxscan.in/assessing-officer-cannot-withdraw-or-modify-or-substitute-assessment-order-passed-u-s-1433-with-another-assessment-order-itat/291046/ The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the Assessing Officer (AO) could not withdraw or modify or substitute assessment order
Mistake Apparent from Record U/s 254(2) of Income Tax Act could be corrected by Tribunal: ITAT allows Rectification Application
Clipped from: https://www.taxscan.in/mistake-apparent-from-record-u-s-2542-of-income-tax-act-could-be-corrected-by-tribunal-itat-allows-rectification-application/290934/ The Raipur bench of the Income Tax Appellate Tribunal (ITAT) held that the mistakes that are apparent from the records under Section 254(2) of
ITAT Overturns Ex-Parte Order Due to Non-Adherence to Notice Service Preferences
https://taxguru.in/income-tax/itat-overturns-ex-parte-order-due-non-adherence-notice-service-preferences.html Clipped from: https://taxguru.in/income-tax/itat-overturns-ex-parte-order-due-non-adherence-notice-service-preferences.html Jayshree Kamleshkumar Patel Vs ITO (ITAT Ahmedabad) Introduction: In a remarkable case of Jayshree Kamleshkumar Patel vs ITO, the ITAT Ahmedabad has overturned
Issue of notice u/s 148 against deceased assessee is null in the eyes of law
https://taxguru.in/income-tax/issue-notice-u-s-148-deceased-assessee-null-eyes-law.html Clipped from: https://taxguru.in/income-tax/issue-notice-u-s-148-deceased-assessee-null-eyes-law.html Late Shri Shankar Mukund Shenai Vs ITO (ITAT Mumbai) ITAT Mumbai held that issuance of notice for re-opening of assessment under section
I-T department sends notices using AI to tax evaders for fake donations
https://www.business-standard.com/india-news/i-t-department-sends-notices-using-ai-to-tax-evaders-for-fake-donations-123061900801_1.html Clipped from: https://www.business-standard.com/india-news/i-t-department-sends-notices-using-ai-to-tax-evaders-for-fake-donations-123061900801_1.html The income tax notices were issued to evaders under Section 138 and 148(A); individuals have to submit proof of donation within 30
AO cannot take the position of business man to ascertain GP ratio
https://taxguru.in/income-tax/ao-position-business-man-ascertain-gp-ratio.html Clipped from: https://taxguru.in/income-tax/ao-position-business-man-ascertain-gp-ratio.html ACIT Vs Ashish Bansal (ITAT Delhi) In the case of ACIT vs. Ashish Bansal [ITA No.7427/Del/2018 dated June 2, 2023], the ITAT, New
Capital gain from jointly owned property sale cannot be attributed to single co-owner
Read more at: https://taxguru.in/income-tax/itat-verdict-sureshbhai-patel-vs-ito-jointly-owned-property-sale-analysis.htmlCopyright © Taxguru.in https://taxguru.in/income-tax/itat-verdict-sureshbhai-patel-vs-ito-jointly-owned-property-sale-analysis.html Clipped from: https://taxguru.in/income-tax/itat-verdict-sureshbhai-patel-vs-ito-jointly-owned-property-sale-analysis.html Sureshbhai Ashwinbhai Patel Vs ITO (ITAT Ahmedabad) The case of Sureshbhai Ashwinbhai Patel Vs ITO, heard by
👍👍👍👍👍Section 80P(2)(d) deduction: Co-op Society Eligible to claim on Interest Income from FDR with Co-op Bank
https://taxguru.in/income-tax/itat-ruling-rethal-dudh-utpadak-sahkari-mandali-vs-ito-section-80p2d-deduction.html lipped from: https://taxguru.in/income-tax/itat-ruling-rethal-dudh-utpadak-sahkari-mandali-vs-ito-section-80p2d-deduction.html Rethal Dudh Utpadak Sahkari Mandali Ltd. Vs ITO (ITAT Ahmedabad) The case of Rethal Dudh Utpadak Sahkari Mandali Ltd. Vs ITO, adjudicated
ITAT Pune Upholds Section 271B Penalty for Failure to File Audit Report
https://taxguru.in/income-tax/santosh-swarupchand-vs-ito-itat-pune-penalty-failure-file-audit-report.html Clipped from: https://taxguru.in/income-tax/santosh-swarupchand-vs-ito-itat-pune-penalty-failure-file-audit-report.html Santosh Swarupchand Vs ITO (ITAT Pune) In the case of Santosh Swarupchand vs. ITO, it was established that the assessee had maintained
Income Tax: Penalty u/s 271B – Failure to furnish Tax audit report – Period of limitation –
https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=70338 lipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=70338 ← Previous Next → Income Tax – Penalty u/s 271B – Failure to furnish Tax audit report -… Income Tax Penalty u/s 271B
Section 69A not Applicable if Assessee Provides Plausible Explanation for Jewellery Source
https://taxguru.in/income-tax/section-69a-applicable-assessee-provides-plausible-explanation-jewellery-source.html Clipped from: https://taxguru.in/income-tax/section-69a-applicable-assessee-provides-plausible-explanation-jewellery-source.html Jayashri Shrikant Deshmukh Vs ACIT (ITAT Pune) Introduction: In a significant ruling by the Income Tax Appellate Tribunal (ITAT) Pune, in the
Material Found from Premises of Third Parties cannot be Utilized against Assessee for making Assessment u/s 143(3) r.w.s. 153A of IT Act :ITAT
Read More: https://www.taxscan.in/material-found-from-premises-of-third-parties-cannot-be-utilized-against-assessee-for-making-assessment-u-s-1433-r-w-s-153a-of-it-act-itat/286567/ Material Found from Premises of Third Parties cannot be utilized against assessee for making Assessment u/s 143(3) r.w.s. 153A of IT Act :ITAT
Reassessment merely based on information received from investigation wing is bad in law
Read more at: https://taxguru.in/income-tax/reassessment-based-information-received-investigation-wing-bad-law.htmlCopyright © Taxguru.in https://taxguru.in/income-tax/reassessment-based-information-received-investigation-wing-bad-law.html Clipped from: https://taxguru.in/income-tax/reassessment-based-information-received-investigation-wing-bad-law.html AmritBrakewell Products Vs ITO (ITAT Delhi) ITAT Delhi held that reopening of assessment proceedings merely on the
Expenses Incurred for Gifts to Customers by Company during Festivals Allowable u/s 37 of Income Tax Act: ITAT
Read More: https://www.taxscan.in/expenses-incurred-for-gifts-to-customers-by-company-during-festivals-allowable-u-s-37-of-income-tax-act-itat/282294/ Clipped from: https://www.taxscan.in/expenses-incurred-for-gifts-to-customers-by-company-during-festivals-allowable-u-s-37-of-income-tax-act-itat/282294/ The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the expenses incurred for gifts to customers by company during festivals would be
👍👍👍👍👍👍👍Claiming Section 80G Deduction: A Guide to Include it in Your ITR Filing
Read More: https://www.taxscan.in/claiming-section-80g-deduction-a-guide-to-include-it-in-your-itr-filing/282017/ Clipped from: https://www.taxscan.in/claiming-section-80g-deduction-a-guide-to-include-it-in-your-itr-filing/282017/ The Income Tax Act of 1961 includes the rules and regulations that govern the Indian taxation system. This Act has been
👍👍👍👍👍👍👍Case Digest: Capital gain on Property
Case Digest: Capital gain on Property https://www.taxscan.in/case-digest-capital-gain-on-property-part-1/282450/ Profits or gains arising from the transfer of an immovable property, held as a capital asset, are taxed
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