Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The Surat bench of the ITAT states that if a rental income is proposed for taxation in one assessment year, it will be reduced by the assessing officer from the income of another assessment year. The case was remitted by the bench to the AO’s file to validate the taxpayer’s claim. The taxpayer has furnished the revised […]
A reassessment case has been reinstated by the Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT). This decision highlights that the Assessing Officer (AO) did not consider the documentary evidence provided by the taxpayer regarding cash deposits totalling Rs 15.88 lakh. The taxpayer, Amit Hasmukhbhai Shah, is involved in a case that has been reopened […]
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 Delhi High Court said that before rejecting the application of the taxpayer u/s 197 of the Income Tax Act 1961 for nil TDS or deduction of tax at a lower rate, the assessing officer should form a presumption view for the taxability of the taxpayer in India. The taxpayer is been permitted under section […]
The decision of the Commissioner of Income Tax(Appeals)[CIT(A)] has been carried by the Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) permitting the tax deducted at Source (TDS) credit of ₹168.61 crore, noting discrepancies in 26AS form due to late payment of TDS and revised filings, and asked the AO to verify the credit. On […]
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) remanded the case related to the addition of Rs. 24,89,121 as gross receipts of commission income u/s 144 of the Income Tax Act, 1961, for fresh adjudication. Prakash Dipchand Kapadnis the taxpayer does not submit the ITR for the Assessment Year 2013-14 under Section 139(1) […]
It was carried by the Delhi High Court that the provision u/s 153C of the Income Tax Act, 1961 for the Assessing officer of a searched person to record ‘satisfaction’ and handover documents for undisclosed income of another person cannot be replaced by just uploading such information on the insight portal of the department. It […]
A new feature has been launched by the Income Tax Department on its e-filing portal to allow rectification requests to the AO for incorrectly filed ITRs. This option enables taxpayers to submit rectification applications for assessment orders issued by the AO under Section 154 of the Income Tax Act, 1961, directly to their Assessing Officer […]
S.153C Income Tax Act doesn’t bar the jurisdiction of AO to reopen the assessment under section147 when information against the taxpayer is received from a search conducted on another person: Delhi High Court It was carried by the Delhi High Court that section 153C of the Income Tax Act, 1961 does not by itself preclude […]
