There is no requirement to file the books of account and vouchers if assessee has income u/s 44AD
There is no requirement to file the books of account and vouchers if assessee has income u/s 44AD Where…
Income Tax
Purchasers cannot be left at the mercy of the seller as they can also not compel the selling dealer to file the return within stipulated time and deposit the tax Collected.
Purchasers cannot be left at the mercy of the seller as they can also not compel the selling dealer to file…
Notice under Section 148 Issued by Jurisdictional AO Instead of Following Faceless Assessment Scheme: ITAT Quashed the proceeding
Notice under Section 148 Issued by Jurisdictional AO Instead of Following Faceless Assessment Scheme: ITAT Quashed the proceeding ITAT…
Claim Based on Prevailing HC Ruling Not Inaccurate: ITAT Quashes Penalty Under Section 271(1)(c)
Claim Based on Prevailing HC Ruling Not Inaccurate: ITAT Quashes Penalty Under Section 271(1)(c) The assessee, Intervalve Poonawalla Pvt.…
Reassessment quashed as no addition is made on the basis of the reason recorded for reopening
Reassessment quashed as no addition is made on the basis of the reason recorded for reopening Tax Tribunal Quashes Reassessment…
Order u/s 119(2)(a) of the Income-tax Act,1961 regarding processing of returns filed u/s 139 of the Income-tax Act, 1961 beyond the prescribed time limit
Order u/s 119(2)(a) of the Income-tax Act,1961 regarding processing of returns filed u/s 139 of the Income-tax Act, 1961 beyond…
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)…
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…
