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Income Tax Deposit already made under IDS: Bombay HC directs Dept to Issue Certificates [Read Order]

Manu Sharma

The Bombay High Court directed the tax department to issue necessary certificates to the assessee, who has fully paid all dues under the Income...

Deposit of TDS Deducted with Interest: Bombay HC quashes Criminal Proceedings against Directors...

Delhi HC Grants Refund, Citing Time-Barred Assessment Due to Delay in Implementing Tribunal’s...

Compensation awarded under MV Act must compute after Deduction of Income Tax: Andhra Pradesh High...

Exemption Allowable on Sale Consideration Invested In Purchase of Property with Prior Permission of...

Only Short Gap Between Three Income Tax First Appeal Notices: ITAT remands Matter [Read Order]

The Jaipur Bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the matter for fresh adjudication due to a short gap between the 3 notices issued by the CIT(A), leading to a lack of...

ITAT Restores Appeals to AO for Reassessment Due to Incomplete Evidence Submission [Read Order]

In a recent case, the Cuttack Bench of the Income Tax Appellate Tribunal ( ITAT ) allowed the appeal of the assessee and directed the Assessing Officer ( AO ) to reassess the appeals for the...

Difference Between Allotted and Market Price of ESPS Shares Not Taxable as Perquisite u/s 17(2)(iiia) of Income Tax Act: Delhi HC [Read Order]

The Delhi High Court emphasized that no tax could be levied on notional income, ruling that the Valuation Report obtained by the employer was inapplicable to shares subject to a lock-in stipulation...

ITAT upholds Reopening of Assessment u/s 148 of Income Tax Act on Reason to Believe Tax Escapement [Read Order]

In a recent case, the Income Tax Appellate Tribunal (ITAT) of Ahmedabad upheld the reopening of assessment under section 148 of the Income Tax Act 1961 (ITA) as the tribunal observed that the...

ITAT Weekly Round Up

This weekly round-up analytically summarizes the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan.in during the previous week 10th August 2024 to 17th August 2024. ...

Absence of Incriminating Evidence warranting Abatement of Assessment: ITAT deletes Additions on sale of Agricultural Land [Read Order]

The Nagpur Bench of the Income Tax Appellate Tribunal ( ITAT ) recently laid down a decision affirming the need for conclusive incriminating evidence to abate an Assessment filed by an Assessee. ...

Income Tax Calculation Mistake u/s 115BBE of Income Tax Act can be Rectified only via Section 154, not Section 263: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) of Ahmedabad recently in a case held that the Income Tax calculation mistake made by the Assessing Officer ( AO ) under section 115BBE of the Income Tax Act...

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