Income TaxNon filing of MSME-1 by Companies may attract penalty up to Rs. 3 Lakh2 hours ago0Non filing of MSME-1 by Companies may attract penalty up to Rs. 3 Lakh For all companies in India…
Income TaxCourts, Sub-Registrars must report if they come across cash transactions over Rs. 2 Lakhs to Income Tax Department: Supreme Court2 hours ago0Courts, Sub-Registrars must report if they come across cash transactions over Rs. 2 Lakhs to Income Tax Department: Supreme Court…
Income TaxNo notice u/s 143(2) issued by the AO – ITAT Quashed Assessment as JurisdictionYesterday at 7:32 am0No notice u/s 143(2) issued by the AO – ITAT Quashed Assessment as Jurisdiction Kolkata ITAT held that “……..Therefore,…
Income TaxReasons recorded were vague and scanty and the approval has been granted mechanically – ITAT quashed the Reassessment AssessmentYesterday at 6:17 am0Reasons recorded were vague and scanty and the approval has been granted mechanically – ITAT quashed the Reassessment Assessment …
Income TaxUnsigned notices are void ab initio and cannot confer jurisdiction or attract any legal consequenceYesterday at 1:23 am0Unsigned notices are void ab initio and cannot confer jurisdiction or attract any legal consequence Recenlty, ITAT, Delhi Quashes…
Income TaxAO must independently form a reasoned belief while initiating proceedings u/s 147: Bombay HC17 Apr at 8:39 am0AO must independently form a reasoned belief while initiating proceedings u/s 147: Bombay HC In its recent pronouncement in…
Income TaxUnsecured loans from trustees without prior approval from the Charity Commissioner: ITAT directed CIT (E) for giving Permanent Registration17 Apr at 5:04 am0Unsecured loans from trustees without prior approval from the Charity Commissioner: ITAT directed CIT (E) for giving Permanent Registration There…
Income TaxPrivate Discretionary Trust: Surcharge is applicable at respective surcharge slab rate: SB- Mumbai ITAT17 Apr at 1:30 am0Private Discretionary Trust: Surcharge is applicable at respective surcharge slab rate: SB- Mumbai ITAT Recently, Special Bench of Mumbai ITAT…
Income TaxLack of Jurisdiction and Non-Application of Mind by AO: ITAT declared Reassessment Proceedings as invalid, deleted addition of Rs. 12.39 Cr done U/s 6816 Apr at 6:32 am0Lack of Jurisdiction and Non-Application of Mind by AO: ITAT declared Reassessment Proceedings as invalid, deleted addition of Rs. 12.39…
Income TaxITAT granted relief with regard to the jewellery of the married daughter kept at parent house16 Apr at 5:29 am0ITAT granted relief with regard to the jewellery of the married daughter kept at parent house ITAT DELHI:- PREM…
Income TaxITAT Quashed the Assessment order as Actual Income Escapement was below ₹ 50 Lakhs16 Apr at 5:00 am0ITAT Quashed the Assessment order as Actual Income Escapement was below ₹ 50 Lakhs Recently, the ITAT has quashed the assessment…
Income TaxNo exemption available if the construction done before the date of capital gain16 Apr at 4:26 am0No exemption available if the construction done before the date of capital gain The ITAT Pune, in the case…
Income TaxBombay High Court Grants Interim Relief to Hindustan Coca-Cola in ₹2,500 Cr GST Dispute!16 Apr at 1:35 am0Bombay High Court Grants Interim Relief to Hindustan Coca-Cola in ₹2,500 Cr GST Dispute! In a significant development, the Bombay…
Income TaxNo addition could be made on the basis of ‘Mobile data or loose paper in the absence of corroborative evidence: ITAT Chandigarh16 Apr at 1:24 am0No addition could be made on the basis of ‘Mobile data or loose paper in the absence of corroborative evidence:…
Income TaxCondonation of Delay before CIT-A or ITAT or HC: Few case laws taxpayers can rely upon15 Apr at 7:38 am0Condonation of Delay before CIT-A or ITAT or HC: Few case laws taxpayers can rely upon In tax litigation, delays…
Income TaxBombay HC confirmed addition of 100% of peak purchases from tainted parties15 Apr at 6:38 am0Bombay HC confirmed addition of 100% of peak purchases from tainted parties Recently, the Hon,ble BHC in case of…
Income TaxCompensation for Nuisance is Non-Taxable Capital Receipt: ITAT Mumbai15 Apr at 4:06 am0Compensation for Nuisance is Non-Taxable Capital Receipt: ITAT Mumbai Recently, ITAT Mumbai in the case of Mohammed Fakhre Alam…
Income TaxIntimation under section 143(1) is invalid in law if it was not served to the assessee within the prescribed timelines: ITAT Ahmedabad15 Apr at 3:47 am0Intimation under section 143(1) is invalid in law if it was not served to the assessee within the prescribed timelines:…