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Employees’ contribution to PF/ESI deposited post-due date under the Income Tax Act is not allowable as a deduction under Section 36(1)(va) of the Income Tax Act, 1961, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) stated. The taxpayer, Creative Textile Mills Pvt. Ltd. asks, on which foundation the Commissioner of Income Tax (Appeals) […]
The Income Tax Appellate Tribunal (ITAT), the Mumbai bench recently made a decision to remove an addition made by the assessing officer on an unexplained investment under Section 69 of the Income Tax Act, 1961 without the relevant application of mind. The appellant assessee, Vijaykumar Kanaiyalal Matta, had paid Rs. 1 crore for a property […]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has granted approval for a deduction under Section 54F of the Income Tax Act, taking into account that the assessee is not the exclusive owner of multiple residential properties used by other family members. According to the bench of judges, Kavitha Rajagopal and Om Prakash […]
A 200% penalty could not get imposed until the department establishes misreporting, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) stated. AO would lose to draw the addition or disallowance he made in quantum assessment under the ken of (a) to (f) of Section 270A (9) of the Act, and the penalty levied […]
Due to the turnover limit specified, the Income Tax Appellate Tribunal (ITAT), Kolkata Bench, has revoked the penalty associated with the audit requirement mandated by Section 44AB of the Income Tax Act, 1961. The appellant, Bangla Readymade Garments Mfg. and Traders Welfare Association, represents a collective of individuals formed with the objective of safeguarding the […]
The Rajasthan High Court’s Division Bench has dismissed a writ petition filed by Sodhani Sweets Private Limited, expressing concerns that the GST authorities do not take into consideration their reply filed by them. The respondent authorities, in this case, include the Joint Commissioner of the Goods and Service Tax Council (GST Council), represented by its […]
In a ruling, the Income Tax Appellate Tribunal (ITAT), Raipur bench has instructed the Income Tax Department to allow the delayed filing of Form 10B. However, the condition was provided by the bench that it should be filed before the “due date” of filing of return of income under Section 139 of the Income Tax […]
In accordance with Notification No. 13/2017, Central Tax (Rate), dated June 28, 2017, which provides details on the services liable for tax under the Reverse Charge Mechanism of the CGST Act, services rendered by directors of a company or a body corporate situated in a taxable area to the said company or body corporate will […]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has set aside an ex-parte order because the notice was served via email despite the assessee’s request for a physical notice in Form No. 35. The assessee, Jayshree Kamleshkumar Patel, an individual operating a petrol pump, filed her Income Tax Return for the Assessment Year 2017-18, declaring […]
