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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 Kolkata ITAT learning that the taxpayer’s returns have been processed in the Computer Processing Centre held that when the auditors have reported in the audit report that employees’ contributions have been deducted by the taxpayer from the employee’s salaries but not deposited within the deadline furnished under PF&ESI Act, assessee could not avail for […]
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 […]
Often the employees unfortunately reveal that while the tax has been duly deducted at source (TDS) against their salary income, the same does not get deposited by the employer with the government. The Mumbai bench of the Income-Tax Appellate Tribunal (ITAT) decision stressed that the accountability of proof of TDS against the salary income is […]
The claim of deduction u/s 80 IA of the Income Tax Act, 1961 expressing that the same is not available for the individuals encountered in performing work contracts has been rejected by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT). To claim deduction u/s 80IA of the Income Tax Act is the only […]
While accepting that the income discovered to be belonging to the taxpayer’s wife in scrutiny assessment was duly offered to tax, the Rajkot ITAT condemned the I-T Department from taking the opposite opinion and taxing it in the hands of the assessee according to the foundation that his wife was not functioning any business. The […]
Finding that the taxpayer operates seasonal trade in hosiery items duly backed by documentary proof, which AO investigated accepting the said transactions and resultant profit has been carried to tax, the Chandigarh ITAT said that the PCIT cannot be allowed to invoke his jurisdiction under section 263 only because he assumes that there is the […]
During remanding the case back for re-adjudication, the Mumbai ITAT stated that the prima facie onus shall be on the taxpayer to verify its claim of non-granting of TDS credit, by furnishing pertinent documents, like an appointment letter, salary slips or Form No.16 or bank statements, or any other corroborative evidence/ documents. The Bench of […]
The assessment order is been cancelled by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) without recording valid satisfaction before issuing notice under Section 153C of the Income Tax Act, 1961. When a search was performed by the council the taxpayer Dilip B Patel was not searched. But an investigation was performed on […]
