Bribery: Know How many Income Tax Officers were Arrested Till 31st July 2024
“Income Tax officer arrested while accepting bribe” is the headline we often come across in newspapers and other media. Though the Income Tax...
![AY relevant for Action depends on Date of Recording Satisfaction, not Date of Search u/s 153C of Income Tax Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Act-Income-Tax-Commissioner-Delhi-HC-TAXSCAN.jpg "AY relevant for Action depends on Date of Recording Satisfaction, not Date of Search u/s 153C of Income Tax Act: Delhi HC [Read Order]")
![Availment of Presumptive Scheme of Taxation u/s 44AD Needs to Prove Eligibility: ITAT Upholds AO and CIT(A) Orders [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Availment-of-Presumptive-Scheme-of-Taxation-us-44AD-ITAT-Upholds-AO-CITA-Orders-TAXSCAN.jpg "Availment of Presumptive Scheme of Taxation u/s 44AD Needs to Prove Eligibility: ITAT Upholds AO and CIT(A) Orders [Read Order]")
![Advance Tax Payment Not Required For Reassessment Proceedings: ITAT overrules CIT(A) Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Advance-Tax-Payment-Required-For-Reassessment-Proceedings-ITAT-overrules-CITA-Order-TAXSCAN.jpg "Advance Tax Payment Not Required For Reassessment Proceedings: ITAT overrules CIT(A) Order [Read Order]")
![Pandemic and Fire Incident Hinder Compliance with CIT (A): ITAT sets aside CIT (A) Addition, Directs Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Ahmedabad-Pandemic-Fire-Incident-CIT-A-Addition-Fresh-Adjudication-taxscan.jpg "Pandemic and Fire Incident Hinder Compliance with CIT (A): ITAT sets aside CIT (A) Addition, Directs Fresh Adjudication [Read Order]")
Interest Rate on Secured Loan From banks Cannot be Compared with Interest Rate on Unsecured Loan: ITAT [Read Order]
In a recent case, the Indore bench of Income Tax Appellate Tribunal (ITAT) ruled that interest rate on secured loans from banks cannot be compared with interest rate on unsecured loan. The...
![Interest Rate on Secured Loan From banks Cannot be Compared with Interest Rate on Unsecured Loan: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-Income-Tax-Appellate-Tribunal-Income-Tax-Appellate-Tribunal-ITAT-indore-Unsecured-Loan-interest-rate-taxscan.jpg "Interest Rate on Secured Loan From banks Cannot be Compared with Interest Rate on Unsecured Loan: ITAT [Read Order]")
Failure of Revenue Authorities to put assessee on notice about S. 69A Addition of Income Tax Act is violative of Natural Justice Principles: Calcutta HC [Read Order]
The Calcutta High Court has observed that failure of revenue authorities to put assessee on notice about addition made under section 69A of Income Tax Act, 1961 is violative...
![Failure of Revenue Authorities to put assessee on notice about S. 69A Addition of Income Tax Act is violative of Natural Justice Principles: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Calcutta-High-Court-Income-Tax-Act-Income-Tax-Revenue-Authorities-Natural-Justice-Taxscan.jpg "Failure of Revenue Authorities to put assessee on notice about S. 69A Addition of Income Tax Act is violative of Natural Justice Principles: Calcutta HC [Read Order]")
Pendency of Insolvency Proceedings: Delhi HC quashes Reassessment Notice u/s 148 of Income Tax Act [Read Order]
The Delhi High Court decided on a matter before it seeking to impugn a notice under Section 148 of the Income Tax Act issued by the Assistant Commissioner of Income Tax for the Assessment Year...
![Pendency of Insolvency Proceedings: Delhi HC quashes Reassessment Notice u/s 148 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Delhi-High-Court-ncome-Tax-Act-Reassessment-Notice-Reassessment-Taxscan.jpg "Pendency of Insolvency Proceedings: Delhi HC quashes Reassessment Notice u/s 148 of Income Tax Act [Read Order]")
Taxpayer Rectifies Excess Salary Income Declaration with Revised Return: ITAT deletes Penalty u/s 271(1)(c) [Read Order]
In a significant ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under Section 271(1)(c) of the Income Tax Act,1961, after the taxpayer rectified the excess...
![Taxpayer Rectifies Excess Salary Income Declaration with Revised Return: ITAT deletes Penalty u/s 271(1)(c) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Mumbai-Salary-Income-Excess-Salary-Income-Declaration-Revised-Return-taxscan.jpg "Taxpayer Rectifies Excess Salary Income Declaration with Revised Return: ITAT deletes Penalty u/s 271(1)(c) [Read Order]")
NFAC fails to Examine Nature of Unsecured Loan Transactions: ITAT restores Assessment Order [Read Order]
In a recent judgment, the Pune bench of the Income Tax Appellate Tribunal ( ITAT ) has restored the assessment order, highlighting that the National Faceless Appeal Centre ( NFAC ), failed to examine...
![NFAC fails to Examine Nature of Unsecured Loan Transactions: ITAT restores Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-NFAC-NFAC-Fails-Assessment-Order-ITAT-Restores-Income-Tax-Appellate-Tribunal-National-Faceless-Appeal-Centre-taxscan.webp "NFAC fails to Examine Nature of Unsecured Loan Transactions: ITAT restores Assessment Order [Read Order]")
![Consultancy Services Not Taxable as FIS under Article 12 of India-US DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Delhi-Income-Tax-Article-12-of-India-US-DTAA-Dispute-Resolution-Panel-Consultancy-Services-TAXSCAN.jpg "Consultancy Services Not Taxable as FIS under Article 12 of India-US DTAA: ITAT [Read Order]")
Wrong Address in Appeal Documents Leads to Dismissal: Calcutta High Court orders Rehearing of Income Tax Appeals [Read Order]
In the recent case, the Calcutta High Court, set aside the Tribunal and Commissioner of Income Tax ( Appeals )[ CIT(A) ] orders against the petitioner due to incorrect addresses on appeal documents,...
![Wrong Address in Appeal Documents Leads to Dismissal: Calcutta High Court orders Rehearing of Income Tax Appeals [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Calcutta-High-Court-Calcutta-HC-Income-Tax-Income-Tax-Appeals-Address-Errors-taxscan.jpg "Wrong Address in Appeal Documents Leads to Dismissal: Calcutta High Court orders Rehearing of Income Tax Appeals [Read Order]")