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The Goods and Services Tax ( GST ) assessment order is been quashed by the Single Bench of the Madras High Court where the applicant was disallowed from claiming the Input Tax Credit for incorrectly mentioning the Goods and Services Tax Identification Number ( GSTIN ) unintentionally. The applicant contested the GST assessment order through […]
On discovering that the need of application of mind is not in the instant case, the Delhi ITAT ruled that the reassessment incurred in section 143(3) read with section 147 of the Income Tax Act, 1961, is poor in law and therefore, the re-assessment order is suppressed. ITAT said that no independent application of mind […]
In response to an appeal made in the case of Sanjay Kukreja versus ACIT against the rejection of the claim for deduction u/s 80IA by the Income Tax department, the New Delhi ITAT, on Tuesday, reversed the decision, directing the assessing officer to allow claimed deduction on the grounds that filing of audit report with […]
No penalty would get charged under Section 271B of the Income Tax Act, 1961 for the late filing of the audit report because of the proceedings beneath the insolvency and bankruptcy code (IBC), the Income Tax Appellate Tribunal (ITAT) Delhi bench ruled. The taxpayer, Bhushan Aviation Limited’s return was filed dated 29.03.2019 at the time […]
The Ahmedabad bench Income Tax Appellate Tribunal ( ITAT ) ruled that the Tax Deduction at Source ( TDS ) credit must not be refused if the income from the sale of agricultural property was not declared in the Income Tax Return (ITR). Dhirajlal Savailal Shah, the taxpayer at the time of the AY 2017-18, […]
In a ruling in favour of Mitsubishi Corporation India P Ltd, the Delhi High Court ruled that disallowance under section 40(a)(i) of the Income Tax Act, 1961 does not apply concerning the provision of Double Taxation Avoidance Agreements (DTAAs) entered into by India with Japan and the USA. The order passed by the ITAT is […]
The auditor failed to file the audit report including the return of income the Ahmedabad bench Income Tax Appellate Tribunal ( ITAT ) ruled while asking to permit an exemption under section 11 of the Income Tax Act, 1961. In this matter, the taxpayer, Karma Falya Trust filed an income tax return for Assessment Year […]
The submission of Income Tax Form No. 10BA is compulsory for claiming deductions under Section 80GG of the Income Tax Act, 1961, the ITAT in Bangalore held. The taxpayer is unable to comply with this need. Consequently, the ITAT (Income Tax Appellate Tribunal) asked the Assessing Officer (AO) to allow the deduction once the form […]
The Madras High Court ruled the Assessing Officer (AO) to permit the transitional credit of purchase tax paid under Section 140 of the TNGST Act, 2017, if the applicant had paid “purchase tax” under Section 12(1) of the TNVAT Act. The bench of Justice C. Saravanan noted that the applicant deserves an opportunity to safeguard […]
