Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The prosecution proceedings launched against the taxpayer for belatedly depositing tax deducted at source (TDS) have been quashed by the Andhra Pradesh High Court. The bench of Justice Venkata Jyothirmai Pratapa has marked that CIT overlooked the material placed by the taxpayer to show that there was a reasonable cause for their failure to remit […]
The delay of 145 days in filing an appeal by the taxpayer on the ground that the taxpayers inadvertently did not get the orders sent via email, as many of these orders are going to spam folders, has been condoned by the Cuttack Bench of Income Tax Appellate Tribunal (ITAT). It has been noted by […]
In the matter of Chaudhary Stone Crusher vs. Income Tax Officer (ITO), adjudicated by the Income Tax Appellate Tribunal (ITAT) Delhi, the central issue related to the validity of reassessment proceedings commenced against the taxpayer’s firm for the assessment year 2011-12. Below is a summary of the matter and the tribunal’s decision: Background Chaudhary Stone […]
The taxpayer has purchased agricultural land, which is outside the purpose of a capital asset; thus, the deeming provision u/s 56(2)(x) of the Income Tax Act cannot be invoked, Delhi Bench of Income Tax Appellate Tribunal (ITAT) mentioned. The bench of Sudhir Pareek (Judicial Member) and S.Rifaur Rahman (Accountant Member) has marked that the taxpayer […]
The Telangana High Court noted that notice issued u/s 148 of the Income Tax Act, 1961 without following the modified procedure under Finance Act 2021 is not valid and set aside the reassessment notice. The applicant cited that the reassessment process in the furtherance of the Finance Act, 2021, stood altered but the respondents have […]
The Kerala High Court has dismissed the writ petition contesting the assessment order and notice of demand based on the fact that they were issued in violation of the principles of natural justice. The bench of Justice Murali Purushothaman has noticed that when the applicant/taxpayer is at fault, as they did not update or revise […]
By March 2025 the income tax department is designated to finalize the reassessment of 170,000 notices, concentrating on the undisclosed income from the past assessment years. Between March 2021 and March 2024, such notices were being issued targeting the differences in declarations of income. Reassessments Scene The reopening of nearly 600,000 matters has been initiated […]
The income tax deduction is allowable on expenditures incurred on warranty claims, the Delhi Bench of Income Tax Appellate Tribunal (ITAT) ruled. The bench of Kul Bharat (Judicial Member) and M. Balaganesh (Accountant Member) has laid on the Supreme Court’s decision in the matter of Rotork Controls India (P) Ltd., where it was carried that […]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) asked the AO to permit Tax Deducted at Source ( TDS ) credit to transferees, despite when the certificates are in the name of the amalgamated or demerged company. Concerning non-granting of TDS to the tune of Rs. 8,13, 81,645, the taxpayer has […]
