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Incomplete Construction of New House Property: ITAT upholds Exemption u/s 54 towards Amount Utilized [Read Order]

Saagarika Gopinath

The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) held that exemption under Section 54 of the Income Tax Act,1961 can be allowed...

ITAT Absolves Income Taxpayer of Advance Tax Liability u/s 209 observing Lack of Implicating...

Turnover Discrepancy of Rs.86 Crore! Delhi HC quashes Income Tax Addition Ultra Vires Grounds for...

November 15 Deadline for Income Tax Returns: Only 2 Days Left for Assessees Needing Audit!

Assessee Forgot to Claim 'Long Term Capital Loss' in Income Tax Return: Gujarat HC directs to seek...

Karnataka HC Orders Income Tax Dept to Refund Full Amount with Interest to IBM India as per SC's Directive [Read Order]

In a recent ruling, the Karnataka High Court directed the Income Tax Department to refund the entire amount due, including interest, to IBM India Private Limited. This ruling was made to enforce...

GST paid shall not be Included while Computing Total Income u/s 44BB: ITAT [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) has ruled that the Goods and Services Tax ( GST ) paid by the assessee should not be included while computing the gross receipts under...

No Issuance of Income Tax Notice Beyond 10 years from Relevant Assessment Year as per S.149 r/w 153C: Delhi HC [Read Order]

The High Court of Delhi recently allowed a Petition filed against the Revenue holding that Income Tax Reassessment Notice may not be issued beyond a period of 10 years from the relevant Assessment...

ITAT Accepts Medical Certificate as Sufficient Proof to Condone Taxpayer's Delay in Filing Audit Report [Read Order]

In a recent case before Income Tax Appellate Tribunal (ITAT), Bangalore the assessee’s appeal was allowed recognizing Medical Certificate as sufficient proof for condonation of taxpayer’s delay in...

ITAT upholds Disallowance of PF/ESI Contributions due to Late Deposits Beyond Statutory Deadlines [Read Order]

The Jaipur Bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the disallowance of Provident Fund (PF) and Employees' State Insurance ( ESI ) contributions on the grounds that they were...

ITAT grants Relief on Employer PF/ESI Contributions, Restricts disallowance to Employee Contributions based on Timely Payment u/s 43B of Income Tax Act [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) granted relief to assessee, by restricting the disallowance of Provident Fund ( PF ) and Employees State Insurance ( ESI ) contributions,...

ITAT Restores Case to AO for Fresh Assessment, Granting Assessee Opportunity to Substantiate Cash Deposits [Read Order]

The Surat Bench of Income Tax Appellate Tribunal ( ITAT ) restored the case to the Assessing Officer ( AO ) for a fresh assessment, granting the assessee an opportunity to substantiate cash deposits...

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