Latest Income Tax News, Updates & Judgments

Begin typing your search above and press return to search.

Home
»
Income Tax

Assessment against Non-Existent Entity cannot be Cured by Invoking S. 292 Income Tax Act: ITAT [Read Order]

In a recent case before Income Tax Appellate Tribunal ( ITAT ), New Delhi it was ruled that an assessment against a non-existent entity cannot be...

Income Tax Addition not applicable on Interest Income from Govt. Project Funds Deposited if Interest...

Delay in Admission of Additional Evidence u/r 46A: ITAT quashes ₹34L addition to Taxable Income,...

Income Tax Authorities Fail to Consider Submission on Lenders Identity and Creditworthiness:...

Delayed PF & ESIC Payments: ITAT remands Matter for Production of Payment Challans [Read Order]

Investors Proven Genuine: ITAT quashes Additions u/s 68 and Revision Order [Read Order]

In a recent ruling, the Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) quashed additions under section 68 of the Income Tax Act, 1961, and the revisionary order passed by the Principal...

Entry Made In Dispatch Register Does Not prove Service of Notice under Income Tax Act: Orissa HC [Read Order]

The Orissa High Court in a recent case, has made it clear that an entry in the dispatch register maintained by the Revenue is not primary evidence to prove the service of notice on an assessee under...

November 15: Important Income Tax Forms to be furnished in 2 days

In 2 days time, which is on this Friday, November 15th, the following forms have to be furnished. The assessees are advised to make sure that they file their Income Tax Returns ( ITR ) on time. ...

No Right to Assessing Authority in Reassessing Prior Years Without Inquiry While Considering Assessment of Relevant Year under Income Tax Act: Kerala HC [Read Order]

In a significant case, the Kerala High Court held that assessing authority has no right to reassess prior years without inquiry while determining the assessment of relevant years under Income Tax...

Full Sale Consideration taken Without Indexed Cost Adjustment in Capital Gain Calculation: Karnataka HC sets aside Income Tax Reassessment Notice [Read Order]

In a recent ruling, the Karnataka High Court quashed an income tax reassessment notice issued to the petitioner where the full sale consideration was considered in calculating capital gains without...

Wrongful Deposit of TDS By Employer: Gauhati HC Denies Interest u/s 244A of Income Tax Act [Read Order]

The Gauhati High Court has held that interest on refund under Section 244A of the Income Tax Act, 1961 applies only to those cases where refund is delayed by the Income Tax Department and declined...

Period of Limitation: A Check Post for Income Tax Assessments

Limitations of time under the Income Tax Act are imposed for filing appeals against the assessment order and limitations for passing the assessment order by the income tax officers as well. The...

Prev Page Next Page