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The ITAT’s Raipur Bench has quashed the reassessment proceedings because the assessing officer violated the deadline set under Section 148A(b). The officer allowed only 6 days for the response, whereas the minimum required time is 7 days. The taxpayer Satish Kumar Agrawal submitted his income tax return for the AY 2018-19, showing a total income […]
The Income Tax Appellate Tribunal (ITAT) in Bangalore ruled that the provisions related to Minimum Alternate Tax (MAT) under section 115JB of the Income Tax Act do not apply to the taxpayer bank. As a result, the tax on book profits is not applicable to the bank. The tribunal has allowed the appeal filed by […]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) ruled that the GST collected by foreign companies is not included in Gross Receipts to calculate income under Section 44BB of the Income Tax Act, 1961. The appellant, Oceaneering International GMBH, questions the inclusion of GST in the calculation of presumptive income under section 44BB of […]
The Kerala High Court ruled in favour of the Amrita Institute of Medical Science and Research, directing the income tax department to resolve the appeal within three months. The case was associated with a non-disposal of appeal on the applicability of the Tax Deducted at Source (TDS) deduction to doctors engaged by the hospital. The applicant, […]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) quashed the revisionary order passed by the Principal Commissioner of Income Tax (PCIT), ruling that the assessment order was not incorrect. Chandrakant Vallabhbhai Koladia has submitted his income tax return for the AY 2018-19, declaring a total income of Rs 1,23,69,720. Based on the survey, the taxpayer revealed […]
The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT), Section 263 of the Income Tax Act, 1961, which authorizes the Principal Commissioner of Income Tax (PCIT) to modify assessments, cannot be invoked based on an audit objection. The taxpayer Vaneet Gupta, in March 2018, was provided an income tax notice under section 148 asking […]
The Kerala High Court addressed an income tax appeal for the nature of an order passed by the Commissioner of Income Tax under section 263 of the Income Tax Act. The taxpayer, Malabar Institute of Medical Sciences Ltd., contested the Income Tax Appellate Tribunal’s (ITAT) decision, which had dismissed their appeal against a revised assessment […]
The Rajasthan High Court has overturned the prosecution under the Income Tax Act of 1961 against the applicant’s company, which is engaged in e-commerce transactions. The delay faced by prominent companies like Amazon, Naaptol, and eBay in submitting their bills led to the applicant being nearly 10 months late in filing the deducted TDS. It […]
The ITAT Indore ruled that the taxation of unexplained cash credit is invalid if the books of accounts are rejected, particularly in light of the significant increase in cash deposits during the demonetization period. The taxpayer, Dharmendra Doshi, who runs Parsvnath Industries, a proprietorship that deals in plastic scrap and old bottles, submitted an income […]
