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The Income Tax Appellate Tribunal (ITAT) Mumbai in the recent case analyzed the petition furnished by the taxpayer against an order via the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi. From the addition of Rs 11,33,000 as undisclosed income by the Assessing Officer the dispute emerged. U/s 148 of the Income Tax […]
In the matter of Shamanna Reddy vs. ITO, the Income Tax Appellate Tribunal (ITAT) Bangalore addressed a petition against the order of CIT(A) for the AY 2018-19. The petitioner, an individual, challenged the dismissal of their petition via the CIT(A) on technical foundations, and the following assessment order passed u/s 147 read with section 144 […]
The Income Tax Department in a relief for taxpayers awaiting their income tax refunds, has disclosed a deadline of April 30 for the approval of pending refunds. The same measure arrived amidst a flurry of activity within the department, with exceeding than 46,000 Income tax returns furnished within the first 5 days of the AY […]
The Tax Department, or the Central Board of Direct Taxes, said that the drive to issue notices and reopen a “small number” of cases with mismatches between the rent paid via a salaried employee and the rent received via the recipient in FY21 was not counted under a special drive for it, as media notified […]
The Kerala High Court ruled that the land in question was utilized for agricultural purposes, which yielded agricultural income, which in turn was exempt from income tax u/s 10(1) of the IT (Income Tax) Act. No material produced by the petitioner is there that suggests that the loan amount claimed during the assessment year in […]
While accepting that the income discovered to be belonging to the taxpayer’s wife in scrutiny assessment was duly offered to tax, the Rajkot ITAT condemned the I-T Department from taking the opposite opinion and taxing it in the hands of the assessee according to the foundation that his wife was not functioning any business. The […]
India’s Finance Minister, Smt. Nirmala Sitharaman has presented distinct new income tax rule modifications in the budget 2023. There will be certain significant modifications with the start of the new fiscal year (FY 2024-25). From April 1, 2024, such revisions shall be implemented. From April 1, 2024, the corresponding changes, will add new regulations or […]
Overview For the matter of Bawa Float Glass Ltd Vs DCIT, the Income Tax Appellate Tribunal (ITAT) Delhi addressed the legal approval granted issue under section 153D of the Income Tax Act lacking a Document Identification Number (DIN). The taxpayer challenged the absence of DIN directing to the important decision via the tribunal. In-depth Examination […]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has ruled that the income tax is not liable to be paid on services provided abroad by non-residents deputed by Indian employers. The bench of Saktijit Dey (Vice President) and B. R. R. Kumar (Accountant Member) noted that from the concurrent reading of Section 5 of […]
