Penny stock deleted by ITAT Kolkata in a very detailed order.
Penny stock deleted by ITAT Kolkata in a very detailed order. Here is a landmark order by ITAT Kolkata herein…
Income Tax
Top 10 Ruling on the Violation of “Principle of Natural Justice” as observed by the Judiciary
Top 10 Ruling on the Violation of “Principle of Natural Justice” as observed by the Judiciary There are…
Technical breach without any intention to evade tax: High court ordered to release the vehicle and the consignment to the petitioner
Technical breach without any intention to evade tax: High court ordered to release the vehicle and the consignment to the…
Taxpayer can exercise option of Writ petition even if alternative remedy in the form of CIT (A) is available
Taxpayer can exercise option of Writ petition even if alternative remedy in the form of CIT (A) is available …
Entry to improve the Ratio for the purpose of Bank Loan- Validity of addition done
Entry to improve the Ratio for the purpose of Bank Loan- Validity of addition done There was an interesting…
Whether ignorance of law can be “Reasonable cause” for non imposition of penalty
Whether ignorance of law can be “Reasonable cause” for non imposition of penalty ”Ignorance of law” is one of…
Same issue examined by ITAT in earlier years, whether disallowance for subsequent years can be done by the AO?
Same issue examined by ITAT in earlier years, whether disallowance for subsequent years can be done by the AO? Here…
14 Key Changes in the ITR Forms for AY 2022-23
14 Key Changes in the ITR Forms for AY 2022-23 The CBDT has well in advance notified the Income-tax Return (ITR) Forms for…
Re-assessment notice issued without prior approval of jurisdictional CIT contravenes mandate of Section 151(2) and hence invalid: Banglore ITAT
Re-assessment notice issued without prior approval of jurisdictional CIT contravenes mandate of Section 151(2) and hence invalid: Banglore ITAT Global…
Time spent in appeal filed with bona fide mistake to be excluded for computing limitation period for sec. 264 revision: HC
Time spent in appeal filed with bona fide mistake to be excluded for computing limitation period for sec. 264 revision:…
Tax Relief to income arising from retirement funds:
Tax Relief to income arising from retirement funds: 1. Some countries tax income from such foreign retirement benefits accounts on…
Notional or fictitious journal entries cannot be taxed u/s. 68.
Notional or fictitious journal entries cannot be taxed u/s. 68. The Honble ITAT Delhi in the case of DCIT vs.…
Instances of the Violation of “Principle of Natural Justice” as observed by the Judiciary
Instances of the Violation of “Principle of Natural Justice” as observed by the Judiciary There are various cases where…
Stay application cannot be rejected arbitrarily. AO should not act as a mere tax-gatherer but as a quasi-judicial authority vested with the power of mitigating hardship to the assessee.
Stay application cannot be rejected arbitrarily. AO should not act as a mere tax-gatherer but as a quasi-judicial authority vested…
ITAT defines the meaning of ‘set aside’ and directs that AO can’t do fresh assessment if assessment order was set aside by ITAT.
ITAT defines the meaning of ‘set aside’ and directs that AO can’t do fresh assessment if assessment order was set…
Landmark Ruling: Sale of plots after subdividing land into smaller plots & adding amenities will not amount to supply- AAR Goa
Landmark Ruling: Sale of plots after subdividing land into smaller plots & adding amenities will not amount to supply- AAR…
Writ petition on reassessment notice for bogus purchases of Rice based on statements recorded of different parties dismissed by Chhatisgarh HC.
Writ petition on reassessment notice for bogus purchases of Rice based on statements recorded of different parties dismissed by Chhatisgarh…
