No penalty under Section 272A(1)(d) when Assessment Completed u/s 143(3)
No penalty under Section 272A(1)(d) when Assessment Completed u/s 143(3) Judiciary has repetitively held that no penalty under Section 272A(1)(d)…
Income Tax
No Justification for exercising revisionary power under Section 263 based on mere Opinion Divergence
No Justification for exercising revisionary power under Section 263 based on mere Opinion Divergence The assessee, Ganesh Srinivasan, a…
Multiple Floors in a Single Building Constitute One Residential House Under Section 54F: Delhi HC
Multiple Floors in a Single Building Constitute One Residential House Under Section 54F: Delhi HC In a landmark judgment,…
ITR Forms for AY 2025–26: What’s New!
ITR Forms for AY 2025–26: What’s New! When the Income Tax Department updates the ITR forms, it’s not just a…
No re-assessment proceedings beyond 3 years if the escaped income exceeds ₹50 lakh is not represented in the form of an asset
No re-assessment proceedings beyond 3 years if the escaped income exceeds ₹50 lakh is not represented in the form of an…
Capital Gain exemption under section 54F: Income Tax Act speaks of ‘one residential house,’ not ‘one residential unit.
Capital Gain exemption under section 54F: Income Tax Act speaks of ‘one residential house,’ not ‘one residential unit. In…
Mere non-filing of returns or non-payment of tax doesn’t automatically justify invoking Section 74.
Mere non-filing of returns or non-payment of tax doesn’t automatically justify invoking Section 74. Andhra Pradesh High Court judgment…
Valuation of shares by DCF method cannot be rejected, where there is no error in the methodology: Delhi HC
Valuation of shares by DCF method cannot be rejected, where there is no error in the methodology: Delhi HC …
Section 205 is a protective provision – Once TDS has been deducted and deposited, the assessee cannot be asked to pay tax again
Section 205 is a protective provision – Once TDS has been deducted and deposited, the assessee cannot be asked to…
No re-assessment proceedings beyond 3 years if the escaped income exceeds ₹50 lakh is not represented in the form of an asset
No re-assessment proceedings beyond 3 years if the escaped income exceeds ₹50 lakh is not represented in the form of an…
Bogus Purchase: Addition sustained at reduced rate not under Section 69C, but as a trading addition by ITAT Delhi
Bogus Purchase: Addition sustained at reduced rate not under Section 69C, but as a trading addition by ITAT Delhi …
ITAT Jaipur Estimated Profit at 1.52% on Turnover of Rs. 7.96 Crores amid Audit Lapses and Cash Irregularities”
ITAT Jaipur Estimated Profit at 1.52% on Turnover of Rs. 7.96 Crores amid Audit Lapses and Cash Irregularities” The…
Non-Compliance with CBDT’s 143(2) Notice Format Renders Assessment Invalid: Kolkata ITATA
Non-Compliance with CBDT’s 143(2) Notice Format Renders Assessment Invalid: Kolkata ITATA In tax jurisprudence, procedure is not a mere…
Relief on GST Input Tax Credit for Real Estate-Linked Services – Supreme Court Upholds Safari Retreats Ruling
Relief on GST Input Tax Credit for Real Estate-Linked Services – Supreme Court Upholds Safari Retreats Ruling In a…
Once an LLP opts for audit under Rule 24(8), the due date of filing the income tax return is 30th September: ITAT Agra
Once an LLP opts for audit under Rule 24(8), the due date of filing the income tax return is 30th September:…
Compliance Calendar for June’2025
Compliance Calendar for June’2025 INCOME TAX ▪ 07th June 2025- Due date for deposit of Tax deducted and collected…
The benefit of lower rate of income tax of 15% under Section 115BAB allowed to Company by Kolkata ITAT
The benefit of lower rate of income tax of 15% under Section 115BAB allowed to Company by Kolkata ITAT …
Jurisdictional Assessing Officer Vs. Faceless Assessing Officer: Telangana High Court Quashes Reassessment Notices
Jurisdictional Assessing Officer Vs. Faceless Assessing Officer: Telangana High Court Quashes Reassessment Notices The petitioner challenged reassessment proceedings under…
