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ITAT Upholds Disallowance of LTCL for Sun Pharma Labs Due to Non-Claim in Returns [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the disallowance of the long-term capital loss ( LTCL ) for Sun Pharma...

Rs.89.39 Lakh iPad Care plan expense allowed as immediate Revenue Deduction: ITAT rules for Sun...

AO Cannot Refer File to JC Regarding Penalty u/s 271D of Income Tax without Recording...

ITAT Members get reshuffled Places of Posting: Central Govt issues Transfer Order [Read Order]

Continuous Non-Compliance towards Notices: ITAT remands matter with ₹5k Costs [Read Order]

Delhi HC upholds ITAT decision, invalidates Assessment Order for Exceeding Statutory Timelines [Read Order]

In a recent ruling the Delhi High Court, upheld the Income Tax Appellate Tribunal's ( ITAT ) decision to invalidate an assessment order for exceeding the statutory timelines under the Income Tax Act,...

Non-Functionality of TRACES Portal not Ground to Deny Benefits: Madhya Pradesh HC directs Demand Adjustment against Birla Corporation's pending Refunds [Read Order]

In a significant ruling, the Madhya Pradesh High Court has clarified that the non-functionality of the Income Tax Department's TRACES Portal cannot be used as a justification to deny an assessee the...

Panchnama should Not be treated as Certificate: CESTAT Sets Aside Penalty under Central Excise Act [Read Order]

In a recent case, the New Delhi bench of the Customs, Excise & Service Tax Appellate Tribunal ( CESTAT ) held that the panchnama should not be treated as a certificate and sets aside...

Delhi HC upholds CIT's Decision to Revise Assessment Due to AO's Failure to Verify Dishonored Cheques [Read Order]

In the recent ruling, the Delhi High Court ,upheld the decision of the Principal Commissioner of Income Tax ( CIT ) to revise the assessment due to the Assessing Officer's ( AO ) failure to verify...

ITAT quashes Income Tax Additions based on Third Party Statements [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) has quashed income tax additions based solely on third-party statements, as seen in the recent ruling in Olive Overseas Pvt. Ltd. vs. DCIT. In this case,...

Income Tax Portal releases New Offline Filing Utility for AY 2024-25

The Income Tax Portal released a new offline filing utility for the Assessment year 2024 - 2025. Any taxpayer choosing offline mode (rather than online mode) to file Income Tax Returns needs to use...

Income Tax Dept designates Authorities for Direct Tax Vivad Se Vishwas Scheme, 2024 [Read Notification]

The Central Board of Direct Taxes ( CBDT ), on 27 September, 2024 conferred jurisdiction on newly appointed Income Tax Authorities as per the Direct Tax Vivad Se Vishwas ( DTVSV ) Scheme, 2024. ...

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