Read More: https://www.taxscan.in/itat-quashes-ex-parte-order-due-to-non-service-of-notice-grants-assessee-opportunity-of-hearing/276690/ Clipped from: https://www.taxscan.in/itat-quashes-ex-parte-order-due-to-non-service-of-notice-grants-assessee-opportunity-of-hearing/276690/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=ITAT%20quashes%20Ex-parte%20Order%20due%20to%20Non-Service%20of%20Notice,%20grants%20Assessee%20Opportunity%20of%20Hearing Top Stories The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) recently quashed an ex-parte order due to the non-service of notice
Category: Income Tax Cases
👍Non-cognizance of Income Tax Demand Orders and Tax Position by Old Accountant: ITAT Condones Delay of 217 Days prior to COVID Period
Read More: https://www.taxscan.in/non-cognizance-of-income-tax-demand-orders-and-tax-position-by-old-accountant-itat-condones-delay-of-217-days-prior-to-covid-period/275740/ Clipped from: https://www.taxscan.in/non-cognizance-of-income-tax-demand-orders-and-tax-position-by-old-accountant-itat-condones-delay-of-217-days-prior-to-covid-period/275740/ Top Stories By Aparna. M – On May 8, 2023 12:00 pm – 2 mins read The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) recently while
👍👍👍Remuneration paid to Consultant Doctors not salary,TDS not applicable :ITAT
Clipped from: https://www.taxscan.in/remuneration-paid-to-consultant-doctors-not-salary-tds-not-applicable-itat/275798/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Remuneration%20paid%20to%20Consultant%20Doctors%20not%20salary,TDS%20not%20applicable%20:ITAT Top Stories By Aparna. M – On May 8, 2023 1:00 pm – 3 mins read The Chennai bench of the Income Tax Appellate Tribunal (ITAT) recently held that
👍👍👍👍👍Interest on deposits cannot be treated as business Income for Section 44AD
Clipped from: https://taxguru.in/income-tax/interest-deposits-treated-business-income-section-44ad.html Euro Homes Vs DCIT (ITAT Chennai) In so far as interest on deposits is concerned, the assessee has included interest received from deposits
👍👍👍👍👍Section 148 notice without Higher Authority Approval is invalid
Clipped from: https://taxguru.in/income-tax/section-148-notice-higher-authority-approval-invalid.html Smt. Rashmi Bansal Vs CIT (ITAT Delhi) In this case prior to issuance of notice under Section 148 of the Act, the Assessing
👍Co-owners showed capital gains of different amount – Section 148 notice invalid
Clipped from: https://taxguru.in/income-tax/co-owners-showed-capital-gains-different-amount-section-148-notice-invalid.html Bimlakumari Lajpatraj Hurra Vs ITO (Gujarat High court) ITAT held that When the return of income was filed and all the relevant details
👍👍👍👍👍Tax on sale of property belonging to father is not leviable on son
Clipped from: https://taxguru.in/income-tax/tax-sale-property-belonging-father-leviable-son.html Gurbinder Singh Mahal Vs ITO (ITAT Amritsar) ITAT Amritsar held that the assessee is not liable for payment of tax related to sale
👍👍👍👍👍Gift of Immovable Property to Sister Not Taxable: ITAT
Clipped from: https://www.taxscan.in/gift-of-immovable-property-to-sister-not-taxable-itat/274028/ Top Stories The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that a gift of immovable property to sister is neither taxable as capital
👍👍👍👍👍CESTAT sets aside Revenue’s Demand for Extended Period in Absence of Malafide Act for Service Tax Evasion
Read More: https://www.taxscan.in/cestat-sets-aside-revenues-demand-for-extended-period-in-absence-of-malafide-act-for-service-tax-evasion/273686/ lipped from: https://www.taxscan.in/cestat-sets-aside-revenues-demand-for-extended-period-in-absence-of-malafide-act-for-service-tax-evasion/273686/ Top Stories The Ahmedabad Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), sets aside the Revenue’s Demand for Extended Period in the
Income offered towards Excess Stock not Unexplained Investment u/s 69B, No Income Tax levy u/s 115BBE : ITAT
Clipped from: https://www.taxscan.in/income-offered-towards-excess-stock-not-unexplained-investment-u-s-69b-no-income-tax-levy-u-s-115bbe-itat/273896/ Top Stories By Aparna. M – On May 2, 2023 7:30 am – 3 mins read The Chennai bench of Income Tax Appellate Tribunal (ITAT) has recently held that income offered
👍👍👍👍👍Brought forward unabsorbed depreciation can be set-off against income from other sources allowed
Clipped from: https://taxguru.in/income-tax/claim-set-brought-forward-unabsorbed-depreciation-earlier-years-income-sources-allowed.html Petrofils Cooperative Ltd Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad held that the assessee is entitled to claim of unabsorbed brought-forward depreciation to be
👍👍👍👍👍Companies Act Section 140(5) not become nugatory on auditor resignation: SC
Clipped from: https://taxguru.in/company-law/companies-act-section-1405-nugatory-auditor-resignation-sc.html Union of India and Another Vs Deloitte Haskins and Sells LLP & Anr (Supreme Court of India); Criminal Appeal No. 2305-2307 of 2022;
🙏🙏🙏🙏🙏🙏🙏Maharashtra Real Estate Regulatory Authority issues SCN to Chartered Accountant for Violation of Regulations
Clipped from: https://www.taxscan.in/maharashtra-real-estate-regulatory-authority-issues-scn-to-chartered-accountant-for-violation-of-regulations/274420/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Maharashtra%20Real%20Estate%20Regulatory%20Authority%20issues%20SCN%20to%20Chartered%20Accountant%20for%20Violation%20of%20Regulations Top Stories A Show Cause Notice was sent to a chartered accountant by the Maharashtra Real Estate Regulatory Authority (MahaRERA) for infringing the regulations under
Central Govt brings Transactions by CA, CS and CWA for Clients under the Radar of PMLA Act
Read More: https://www.taxscan.in/central-govt-brings-transactions-by-ca-cs-and-cwa-for-clients-under-the-radar-of-pmla-act/274649/ Clipped from: https://www.taxscan.in/central-govt-brings-transactions-by-ca-cs-and-cwa-for-clients-under-the-radar-of-pmla-act/274649/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Central%20Govt%20brings%20Transactions%20by%20CA,%20CS%20and%20CWA%20for%20Clients%20under%20the%20Radar%20of%20PMLA%20Act Top Stories The Central Government, through a recent Gazette notification has notified that the financial transactions carried out Chartered Accountants, Company
Advance Amount Forfeited on Cancellation of Sale Agreement is Deductible from the Cost of Acquisition: ITAT
Read More: https://www.taxscan.in/advance-amount-forfeited-on-cancellation-of-sale-agreement-is-deductible-from-the-cost-of-acquisition-itat/274676/ Clipped from: https://www.taxscan.in/advance-amount-forfeited-on-cancellation-of-sale-agreement-is-deductible-from-the-cost-of-acquisition-itat/274676/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Advance%20Amount%20Forfeited%20on%20Cancellation%20of%20Sale%20Agreement%20is%20Deductible%20from%20the%20Cost%20of%20Acquisition:%20ITAT Top Stories The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that advance amount forfeited on
Supreme Court upholds quashing of Income Tax Assessment Proceedings initiated u/s 153C for Lack of Incriminating Evidence
Clipped from: https://www.taxscan.in/supreme-court-upholds-quashing-of-income-tax-assessment-proceedings-initiated-u-s-153c-for-lack-of-incriminating-evidence/274750/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Supreme%20Court%20upholds%20quashing%20of%20Income%20Tax%20Assessment%20Proceedings%20initiated%20u/s%20153C%20for%20Lack%20of%20Incriminating%20Evidence Top Stories The Supreme Court has recently upheld the quashing of reassessment proceedings by the jurisdictional High Court and dismissed a bunch of
👍Purchase of Furniture, AC to Make New House Habitable Eligible for Capital Gain Deduction: ITAT
Clipped from: https://www.taxscan.in/purchase-of-furniture-ac-to-make-new-house-habitable-eligible-for-capital-gain-deduction-itat/274719/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Purchase%20of%20Furniture,%20AC%20to%20Make%20New%20House%20Habitable%20Eligible%20for%20Capital%20Gain%20Deduction:%20ITAT Top Stories The Chennai Bench of the Income Tax Appellate Tribunal (ITAT), recently observed that the purchase of Furniture, Air Conditioner to make new house habitable is
👍👍👍👍👍Bogus Purchases Bills without actual delivery of goods: ITAT directs AO to charge 6.5% Gross Profit Rate
Read More: https://www.taxscan.in/bogus-purchases-bills-without-actual-delivery-of-goods-itat-directs-ao-to-charge-6-5-gross-profit-rate/273701/ Clipped from: https://www.taxscan.in/bogus-purchases-bills-without-actual-delivery-of-goods-itat-directs-ao-to-charge-6-5-gross-profit-rate/273701/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Bogus%20Purchases%20Bills%20without Top Stories The Mumbai bench of Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to charge 6.5% Gross Profit
🙏🙏🙏🙏🙏🙏🙏No Depreciation on Goodwill from F.Y. 2020-21 – Advisory, Tax and Regulatory Compliance in India, Singapore and USA
Clipped from: https://taxmantra.com/no-depreciation-on-goodwill-from-f-y-2020-21/ Alert- Adjustment required in F.Y. 2020-21 if depreciation on goodwill claimed in F.Y. 2019-20 Income Tax Act, 1961 (Act) provides depreciation on ‘block
👍Failure to Establish Sufficient Cause for not Filling Appeals
Clipped from: https://www.taxscan.in/failure-to-establish-sufficient-cause-for-not-filling-appeals-within-the-prescribed-period-of-limitation-itat-upholds-dismissal-of-appeals/273072/ Top Stories Failure to Establish Sufficient Cause for not Filling Appeals within the Prescribed Period of Limitation: ITAT upholds Dismissal of Appeals [Read
