Can the Income Tax Department Make New Additions in Reassessment If the Original Reason for Reopening Fails? Bangalore ITAT Says No Keywords: reassessment under Section 147, Section 147 jurisdiction, reassessment addition, original reason for reopening fails, Section 54 disallowance, ITAT Bangalore reassessment, Income Tax reassessment law, fishing inquiry reassessment, Section 148 notice, reassessment jurisdiction. No Addition…

Can a Delay in Filing an Income Tax Appeal Be Condoned If Your Auditor Failed to File It? Kerala High Court Says Yes—If the Explanation Is Genuine Keywords: condonation of delay ITAT, delay in filing appeal before ITAT, auditor failed to file appeal, Kerala High Court condonation of delay, sufficient cause under Income Tax Act, bona…

TDS on Faculty Payments: Salary Under Section 192 or Professional Fees Under Section 194J? ITAT Cochin Clarifies the Law Keywords: TDS on faculty payments, Section 192 vs Section 194J, coaching institute TDS, consultant vs employee, employer-employee relationship, professional fees under Section 194J, ITAT Cochin judgment, faculty consultants income tax, contract of service vs contract for service,…

F&O Traders, Beware! One Wrong ITR can cost more than One Bad Trade   F&O trading is one of the few businesses where investors often lose money first and then discover that tax compliance is another challenge waiting for them!   Futures & Options (F&O) trading has witnessed explosive growth in recent years. Mobile trading…

Section 54F Relief Available Even for Extension of an Existing House? Bangalore ITAT Says Yes Keywords: Section 54F construction, Section 54F existing house, structural additions Section 54F, home extension capital gains exemption, Bangalore ITAT Section 54F, construction of residential house, Section 54F latest judgment, capital gains exemption for house renovation, B.S. Shanthakumari case, engineer certificate Section…