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The self-assessment presented was illegal, according to the Jharkhand High Court, which dismissed the writ suit. Jay Prakash Singhania, the writ petitioner, is an income tax department regular taxpayer. In order to declare unreported income in accordance with the mode and manner specified under Section 183 of the Income Tax Act, the Government of India […]
The Delhi High Court (HC) has ruled that the ruling made in accordance with section 148 of the Indian Constitution without taking the assessee’s response into account is invalid. Under Section 148A(d) of the Income Tax Act, 1961 [“the Act”] Ashok Kumar Garg, the applicant has ordered on 30.03.2022 passed and the resulting notice of […]
The Income Tax Appellate Tribunal (ITAT), Cuttack Bench, has ruled in an appeal that an income tax return submitted with an error and subsequent notification u/s.143(1) is invalid. ITAT made the mentioned observation when an appeal was filed before it through the taxpayer, as against the order of the CIT(A), National Faceless Appeal Centre (NFAC), […]
The new Forms 10B and 10BB that charity or religious trusts, institutions, universities, or other educational institutions must file in line with Sections 10(23C) and 12A of the Income Tax Act have been released by the Central Board of Direct Taxes (CBDT). Latest Update The income tax amendment (3rd Amendment) rules 2023 would have been […]
The Income Tax Appellate Tribunal (ITAT) in Delhi has ruled that payments for bus hiring and wharfage costs are liable to Tax Deduction at Source under section 194C of the Income Tax Act of 1961. Section 194C of the Income Tax Act of 1961 concerns payments to contractors and subcontractors. Any individual who is liable […]
According to a recent decision by the Pune bench of the Income Tax Appellate Tribunal (ITAT), if the tax was not deposited, the advantage of tax deduction at source shall not be granted in the intimation under section 143(1) of the Income Tax Act of 1961. According to Section 143(1) of the Income Tax Act […]
For some services, linking your PAN card with your Aadhaar would have been essential just like filing your ITR. 30th June 2023 is the due date to link PAN with Aadhaar according to the notification. Before that, the due date was March 31, 2023. But the fine shall be obligated to be paid for the […]
Security expenses are not entitled to Tax Deduction at Source under Section 194C of the Income Tax Act of 1961, according to the Mumbai bench of the Income Tax Appellate Tribunal (ITAT). The assessee, M/s ATC Telecom Infra P Ltd, works with telecom operators to provide passive infrastructure. Prior to that, it went under the […]
Income Tax Penalty under section 271E of the Income Tax Act 1961 can not be charged mechanically, the Delhi bench of Income Tax Appellate Tribunal (ITAT) recently carried. Assesee Devinder Gupta & Sons, a Hindu Undivided Family, has repaid a portion of a debt to one of its sister companies, M/s. DNB Properties Pvt. Ltd. […]
