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Observing that the scheme shown by the Central Government does not envisage exclusion of provision of section 148A since the process shown within the mentioned provisions is inextricably associated with Section 148, the Bombay High Court has quashed the whole exercise that the jurisdiction AO has performed under section 148A outside the faceless procedure. Section […]
The Cuttack bench of the Income Tax Appellate Tribunal (ITAT) in a case has remanded the petition via the taxpayer against the commissioner Of Income Tax (Appeals) order after condoning a 69-day delay. It was remarked by the tribunal that the non-compliance and the absence of documentation in the order of the CIT (Appeals) furnished […]
The Bombay High Court has determined that Assessing Officers (AOs) must verify information before initiating reassessment proceedings based on faceless data. This ruling comes from a bench of Justices G.S. Kulkarni and Somasekhar Sundaresan, who underscored the importance of verification when AOs intend to act under Section 148 of the Income Tax Act, particularly when […]
The Punjab & Haryana High Court upheld the revisional order passed by the Principal Commissioner Income Tax (PCIT) under Section 263 of the Income Tax Act. as the assessment was wrongly passed by the Assessing Officer ( AO ) under Section 44ADA of the Act. The taxpayer Harjot Singh, is an individual who filed his […]
The Delhi High Court permitted the writ petition in favour of Mitsubishi Corporation and quashed the assessment order since the tribunal losses to regard the entire powers granted to it u/s 254 of the Income Tax Act of 1961, and the order was quashed to the extent that they denied consideration of the additional reasons […]
The Rajasthan High Court In a writ petition filed by a senior citizen seeking condonation of delay in filing Income Tax Returns ( ITR ), condoned the delay stating the real hurdle performed via the taxpayer who is a senior citizen. The taxpayer, Padam Raj Bhandari, is an insurance surveyor and senior citizen who filed […]
The applicant bank cannot file its return in its GST portal as a technical issue and cannot be loaded, with demand, penalty, and interest, the Telangana High Court ruled. The bench of Justice Sujoy Paul and Justice Namavarapu Rajeshwar Rao noted that it was the responsibility of the department to maintain its portal function. If […]
What is the New TDS Section 194T? The Finance Bill, 2024, presents a significant change for partnership firms with the proposal to insert a new TDS section 194T of the Income Tax Act, 1961. The same move has the motive to bring payments made to partners, including salary, remuneration, commission, bonus, and interest, under the […]
The assessment order has been quashed by the Calcutta High Court on the foundation that the department has losses to place the taxpayer on the notice concerning the addition u/s 69A of the income tax. It was noted by the bench of Justice Raja Basu Chowdhury that the judgment incurred via the respondent department as […]
