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TOLA applicable to Income Tax Act beyond previously specified date: Supreme Court [Read Judgement]

Manu Sharma

In a significant relief for the Income Tax Department, the Supreme Court has ruled that the Taxation and Other Laws (Relaxation & Amendment of...

Assessee entitled to raise Additional claims in Appeal when not made in Returns filed: ITAT [Read...

Reassessment u/s 148 Unsustainable Due to Notice Issued to Deceased: Delhi HC Sets aside Income Tax...

Hardship Allowance Received by Assessee from Developer as ‘compensation Towards Displacement' is not...

Income Tax Dept updates ITR - 1 to ITR - 7 Excel e-Filing Utilities for AY 2024-25 in Portal

JCIT approval for Notices Issued 3-4 Years Post Assessment Found Non-Compliant with Section 151: Delhi HC quashes Income Tax Notice [Read Order]

The Delhi High Court quashed an income tax notice after finding that the Joint Commissioner of Income Tax (JCIT) approval for notices issued 3-4 years post-assessment was non-compliant with Section...

Approval of S. 153D Assessment on Next day by Addl. CIT: ITAT quashes Demand Order [Read Order]

Recently in a case, the Income Tax Appellate Tribunal ( ITAT ) quashed a demand order that arose from an assessment approved under Section 153D of the Income Tax Act 1961 (ITA), The assessee/...

Foreign Tax Credit already Paid: ITAT directs to Exclude Foreign Assignment Salary for Income Recomputation [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) A Bench, Chennai directed to exclude the Foreign Assignment Salary for Income Recomputation, as the Foreign Tax Credit has already been paid. The above...

No Error or Prejudice to Revenue Interests: ITAT quashes Revision Order u/s 263 of Income Tax Act [Read Order]

In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the revision order passed under Section 263 of the Income Tax Act of 1961 as the bench found no error or...

Delay in Filing Appeal Before CIT(A) due to ignorance of Legal Procedures and Non-Follow-Up: ITAT Condones Delay [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT) condones the delay in filing the appeal before the Commissioner of Income Tax (Appeals)[CIT(A)] due to the assessee's ignorance of...

ITAT Deems Labor Charges Genuine as Contractor Retracts Admission of False Payments, Quashes Disallowance [Read Order]

Recently, the Income Tax Appellate Tribunal (ITAT) of Mumbai quashed the disallowance of labor charges after determining the payments to be genuine, following a key contractor's retraction of an...

Non-Compliance and Failure to Explain Bank Credits: ITAT upholds ₹3.13 Crore S.69 Addition under Income Tax [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ) upheld the addition of ₹3.13 crore as unexplained cash deposits in the bank accounts of an appellant, citing his failure to provide any...

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