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The Delhi High Court has ruled that a specific clause in the Income Tax Act cannot be used to extend the period for reviewing certain cases under the treaty between India and Switzerland, if the case itself is considered invalid. A division bench of Justices Vibhu Bakhru and Tejas Karia said that, “On a plain […]
According to the Madras High Court, the limitation period for issuing notices under Section 153C to a third party begins on the date the materials are seized or requisitioned, not on the date of the search. M/s. KLP Projects Private Limited (applicant) has submitted the writ petitions against notices on 30.12.2024 and an order on […]
The Pune ITAT held that levying late fees under Section 234E for TDS returns processed before June 1, 2015, was unjustified, noting that the revision to Section 200A was yet to take effect. The taxpayer, Shrikrishna Laxminarayan Thakur, furnished the TDS returns for diverse quarters across Assessment Years 2013-14, 2014-15, 2015-16, and 2016-17. All these […]
Based on a WhatsApp image found on an employee’s mobile phone, and without any corroborative evidence, an addition under Section 69A of the Income Tax Act, 1961, cannot be upheld, the Income Tax Appellate Tribunal (ITAT), Mumbai Bench, ruled. The bench termed it a ‘dumb document’. The assessee, Rucha Consultancy LLP, filed its return with […]
The amended Income-tax Return Form ITR-7 has been notified by the Central Board of Direct Taxes (CBDT) through Notification No. 46/2025, published in the Gazette of India on May 9, 2025. The amendment shall come into force on April 1, 2025, and will be applicable for the Assessment Year 2025-26. Issued under section 295 read […]
The Central Board of Direct Taxes (CBDT), which is part of the Ministry of Finance, has announced new changes to the income tax rules. This announcement, known as the Income-tax (Seventeenth Amendment) Rules, 2025, was made on May 7, 2025, through Notification No. 45/2025. The formats of ITR-V (Verification Form) and ITR-Acknowledgement under Rule 12 […]
The Jharkhand High Court has overturned a decision made by the Income Tax Appellate Tribunal (ITAT) Circuit Bench in Ranchi. The Court found that the Tribunal’s ruling relied on an earlier case that has since been dismissed by the Supreme Court. Earlier, the whole addition of the Assessing officer has been removed by the tribunal […]
An appeal was dismissed by the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) after the taxpayer had chosen to settle the pending dispute under the VSVS, 2024. While dismissing the appeal as withdrawn, the tribunal has provided the liberty to the taxpayer to take the restoration if the scheme application does not reach […]
The Income Tax Appellate Tribunal (ITAT) 30h has set aside an ex parte order against The Mercantile Co-op Credit Society Ltd., asking the Commissioner of Income Tax (Appeals) [CIT(A)] to re-examine the refusal of Rs.1.1 crore deduction u/s 80P of the Income Tax Act, 1961. The Panaji bench ruled that the cooperative society will be […]
