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The Surat bench of the ITAT states that if a rental income is proposed for taxation in one assessment year, it will be reduced by the assessing officer from the income of another assessment year. The case was remitted by the bench to the AO’s file to validate the taxpayer’s claim. The taxpayer has furnished the revised […]
The Allahabad High Court rendered the State Goods and Service Tax Authorities to not take action towards any assessment year in which the Central Goods and Service Tax Authorities have taken action earlier. The applicant has approached the HC under Article 226 of the Constitution of India against the measures taken via the State and […]
For the assessment year 2020-21, there will be a late refund given by the income tax department. You do not have to worry if you already had filed the return for FY 2020-21 but didn’t get the refund yet. As similar to you the most of the assessee who had furnished the taxes in the […]
The Supreme Court on 4 February 2019 has recently issued the notice under which now the taxpayers would be asked to file the income tax returns with linking PAN with Aadhaar mandatorily.
In the recent announcement of union budget 2019, there were multiple benefits showered on the middle class as well as on the farmers alike.
An issue was addressed under the Orissa High Court for the validity of multiple assessment orders for the identical financial period in the case of Palem Ashok Reddy vs. Commissioner, GST & CX Commissionerate, Rourkela. An ex parte assessment order on July 2, 2024, issued by the Rourkela Commissionerate, demanding service tax of over Rs. […]
It was ruled by The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) that no reopening can take place after the expiry of four years from the end of the relevant assessment year unless any income levied to tax has escaped assessment for the reasons of the failure on the taxpayers part to reveal truly […]
The Delhi High Court has ruled that the Principal Commissioner of Income Tax (PCIT) erroneously invoked jurisdiction under Section 263 of the Income Tax Act and made a mistake by reversing course in the fourth assessment year. This led to the denial of the benefits provided by Section 80IA of the Income Tax Act. Justices […]
Tax regulations often prove intricate, occasionally necessitating court involvement to align Assessing Officers’ conduct. Recently, the Delhi High Court clarified that the extended 10-year review period for Income Tax assessments is applicable only when the estimated undisclosed income surpasses Rs 50 lakh. Justices Rajiv Shakdher and Girish Kathpalia stressed that, in “ordinary cases,” no notice […]
