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The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has issued a directive for the refund of ₹37.88 lakh within one month. This decision arises from a determination that there was an under-allocation of Tax Deducted at Source (TDS) credit related to a property sale, in accordance with section 143(1) of the Income Tax […]
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) has exempted late fees imposed under Section 234E of the Income Tax Act, 1961, for the delayed filing of quarterly TDS (Tax Deducted at Source) returns. As per the Tribunal, when the taxpayer has deposited TDS with applicable interest, submitted all the pending quarterly returns […]
The Income Tax Appellate Tribunal (ITAT), Jodhpur bench, dealt with the disallowance of an Input GST claim of ₹37.92 lakh that had emerged because of an incorrect entry made by the Chartered Accountant (CA) of the taxpayer in Form 3CB. The Tribunal ruled that, as the claim had failed for the desire of external verification, […]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) permitted the claim of Long Term Capital Gains (LTCG) exemption u/s 54 of the Income Tax Act,1961 on the sale of an old flat, as the possession of the new flat was received within the specified period. The taxpayer, Payal Kishore Kulchandani, submitted her return reporting […]
The Income Tax commissioner could not amend an assessment only due to the detailed reasoning was not provided in the order, the Madras High Court ruled. The Commissioner of Income Tax has been empowered u/s 263 of the Income Tax Act, 1961, to amend any order passed under the Income Tax Act, 1961, “the Act,” […]
The Visakhapatnam Bench of the Income Tax Appellate Tribunal (ITAT) reviewed the validity of an assessment conducted under Section 144 of the Income Tax Act, 1961. The focus of the examination was whether this assessment could be upheld or rectified at a later stage despite the absence of a required notice under Section 143(2) of […]
The Andhra Pradesh government, in support of the handloom sector and to assist the weavers of the state, has declared certain initiatives. A comprehensive review meeting at the State Secretariat has been chaired by Chief Minister N Chandrababu Naidu concerning the welfare of handloom workers and revitalising the sector. RP Sisodia, Special Chief Secretary of […]
The Karnataka High Court has decided that IGST will not apply to arrangements where employees are temporarily assigned to work for foreign companies. The issue of whether a secondment constitutes a taxable supply of manpower services or a non-taxable employer-employee relationship, which is covered under Schedule III of the CGST Act, was addressed by Justice […]
On the Income Tax Bill, 2025, the 31-member select committee of the Lok Sabha suggested over 30 amendments in the bill, along with the definitions, clarification on various deductions, as well as reinstatement of a few provisions dropped in the bill. The report of the committee headed by BJP leader Baijayant Panda was presented in […]
