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Income Tax Amendment of Section 80AC Not Retrospective: ITAT Allows 80P Deduction [Read Order]

In a recent ruling, the Pune Bench of the Income Tax Appellate Tribunal (ITAT) allowed a cooperative society's claim for deduction under Section 80P...

Rental Income from Business Assets to be Taxed Under 'Income from House Property', Not as Business...

ICMAI Issues Advisory Against Illegal Agitation by Members on Income Tax Bill Inclusion [Read...

Invalid Bank Account in ITR Filed: Rajasthan HC Sets aside Proceedings u/s 148A of Income Tax Act...

TDS Demand on consultant doctors of Muthoot Health Care: Kerala HC Stays Recovery Proceedings under...

ITAT quashes Final Assessment order as it was passed beyond the period of Limitation [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) quashed the final assessment order as it was passed beyond the period of limitation. In this case, the assessee had appealed against...

Absence of Form 3CL Alone Cannot Justify Denial of Weighted Deduction for R&D Expenditure: ITAT [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the absence of Form 3CL alone cannot justify the denial of weighted deduction under Section 35(2AB) of the Income Tax Act,...

Kerala HC directs Income Tax Commissioner to Dispose of Appeal against Income Tax Assessment Order [Read Order]

In a recent case, the Kerala High Court directed the Income tax commissioner to dispose of the appeal against the Income Tax assessment order without undue delay in an expeditious manner. ...

Denial of Cross-Examination Request in Income Tax Act Proceedings: Kerala HC Rejects Writ Petition as Premature [Read Order]

In a recent case related to denial of cross examination request in Income tax act proceedings, the Kerala High Court rejected the writ petition which was too premature a stage for considering its...

Kerala HC Directs Income Tax Dept to Dispose of Income Tax Appeal Filed 8 Years Ago [Read Order]

In a recent case, the High Court of Kerala directed the Income Tax department to dispose of an Income Tax appeal filed 8 years ago.It was found that, though an intimation was received...

No Income Tax Reassessment Notice u/s 148 May be Issued after Statutory Limitation: Rajasthan HC refers SC Decision in Rajeev Bansal [Read Order]

The Rajasthan High Court recently ruled referred to the Supreme Court decision in Union of India & ors. Vs. Rajeev Bansal (2024) to hold that reassessment notice under Section 148 of the Income...

ITAT Strikes Down Rs. 57.27 Lakh Penalty u/s 271E as there was reasonable cause on assessee’s part [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) struck downRs. 57.27 Lakh penalty under Section 271E of the Income Tax Act as there was reasonable cause on the assessee's part for the...

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