Budget 2023: Proposal on Set off and withholding of refunds in certain cases
Budget 2023: Proposal on Set off and withholding of refunds in certain cases Section 241A of the Act…
Assessment
Deduction u/s 80P cannot be denied for the reason that the assessee did not file return of income its return of income within due date u/s 139(1)
Deduction u/s 80P cannot be denied for the reason that the assessee did not file return of income its return…
Unsigned, Undated, non-elaborative sheet cannot be the basis of the addition: Mumbai ITAT in the case of Saif Ali Khan
Unsigned, Undated, non-elaborative sheet cannot be the basis of the addition: Mumbai ITAT in the case of Saif Ali Khan…
Provisions of section 80AC do note apply to section 80P if the return of income is not filed
Provisions of section 80AC do note apply to section 80P if the return of income is not filed Here…
Income Tax Survey does not empower the ITO to examine any person on oath and the statement recorded u/s 133A has no evidentiary value: ITAT Kolkata
Income Tax Survey does not empower the ITO to examine any person on oath and the statement recorded u/s 133A…
Amount received from Sale of Software Products not Royalty as per Article 12(3) of India -USA DTAA: ITAT
Amount received from Sale of Software Products not Royalty as per Article 12(3) of India -USA DTAA: ITAT Facts:…
Validity of addition solely on the basis of a statement that some payments were made
Validity of addition solely on the basis of a statement that some payments were made ITAT Pune has recently held…
Demand in pursuance of order of assessment cannot be pursued without disposing off the petition for stay of demand
Demand in pursuance of order of assessment cannot be pursued without disposing off the petition for stay of demand …
Penalty under section 271AAB quashed as notice has a fatal error as it intends to penalize an assessee without spelling about the charge against the assessee
Penalty under section 271AAB quashed as notice has a fatal error as it intends to penalize an assessee without spelling…
Purchase by assessee could not be treated as bogus if Assessing Officer did not dispute corresponding sales transactions
Purchase by assessee could not be treated as bogus if Assessing Officer did not dispute corresponding sales transactions A…
Income Tax Authorities can adopt the theory of Human probability during Assessment Proceeding
Income Tax Authorities can adopt the theory of Human probability during Assessment Proceeding The Supreme Court in the case…
If the assessee has maintained regular books of accounts, bills, vouchers and day to day stock register having complete quantitative details, addition U/s 68 is not proper.
If the assessee has maintained regular books of accounts, bills, vouchers and day to day stock register having complete quantitative…
No penalty U/s 271(1)(b) if the assessment is completed U/s 143(3) & not ex-parte U/s 144
No penalty U/s 271(1)(b) if the assessment is completed U/s 143(3) & not ex-parte U/s 144 The imposition…
Bombay High Court allows deduction u/s 80IB(10) on issuance of completion certificate
Bombay High Court allows deduction u/s 80IB(10) on issuance of completion certificate The Principal Commissioner of Income Tax-17 Versus…
Points to be considered while filing Income Tax Returns for current year
Points to be considered while filing Income Tax Returns for current year Changes in the ITR forms are made mainly…
Applicability of ITR forms for taxpayer – Summarised in Chart
Applicability of ITR forms for taxpayer – Summarised in Chart Individual and HUF Individual and HUF…
Reassessment–Notice under section 148–Based on information coming from investigation Wing
Income Tax Act, 1961, Section 148 Reassessment–Notice under section 148–Based on information coming from investigation Wing Conclusion: Reassessment notice on…
What if you forget to verify your Income Tax Return?
What if you forget to verify your Income Tax Return? Have you filed your ITR and forget to verify it?…
