Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
A reconsideration is been ordered by the Delhi bench of the Income Tax Appellate Tribunal (ITAT) asking for a new adjudication. The same decision arrives as the submissions for the Tax Deducted at Source ( TDS ) deductions u/s 194J or 194C for payments related to X-ray and CVC machine maintenance were not regarded. The […]
Income Tax Appellate Tribunal (ITAT) Delhi’s recent decision in the matter of Oriental Bank of Commerce vs. ACIT (ITAT Delhi) has influential implications for the treatment of bad debts claimed by the bank u/s 36(1)(vii) of the Income Tax Act, 1961. The petition related to the AY 2017-18 and was filed against the order of […]
The Delhi Bench of Income Tax Appellate Tribunal ruled that the manual cash book that comprises entries pertinent to the cash withdrawals and expenses of the company, which were duly recorded and reconciled with its books of account, including with the cash introduced, withdrawn, and expenses on behalf of the taxpayer. The bench of Anubhav […]
The Bombay High Court in a judgment dated [date], provided a ruling for the matter of CEAT Limited versus the Commissioner of Income Tax (CIT). The case is concerned with the interpretation and application of Section 244A of the Income Tax Act, 1961, specifically regarding the entitlement to interest on refunds due to taxpayers. Case […]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) demanded re-adjudication, commenting that either Form 26AS or Form 16 is crucial to claim the Tax Deducted at Source ( TDS ) credit. The taxpayer claimed TDS amounting to Rs.10,45,439 was deducted by the employer i.e. M/s. Nirmal Lifestyle Ltd. from salary u/s […]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) witnessed that Income Tax Return filing within the last date is mandatory for claiming deduction u/s 80IB (10) of the Income Tax Act, 1961. The taxpayer was selected by scrutiny and notice u/s 143(2) was issued dated 04-03-2008 and served consequently. The other […]
The assessment order is been quashed by the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) since no addition was incurred based on the reason to believe recorded by the Assessing Officer ( AO ) for reopening the assessment u/s 148 of the Income Tax Act, 1961. CIT(A) based on the points […]
A reassessment order against a housewife when the alleged investment was made by her husband has been quashed by the Bombay High Court. The bench of Justice K. R. Shriram and Justice Neela Gokhale has noted that “We also have to notice that, surprisingly, the Principal Chief Commissioner of Income Tax has also accorded sanction […]
The Income Tax Department in a relief for taxpayers awaiting their income tax refunds, has disclosed a deadline of April 30 for the approval of pending refunds. The same measure arrived amidst a flurry of activity within the department, with exceeding than 46,000 Income tax returns furnished within the first 5 days of the AY […]
