Error Found in AIS while Filing ITR? Know What to Do for AIS Feedback Submission
What is AIS? The Annual Information Statement ( AIS ) is a comprehensive record of your financial transactions displayed in Form 26AS. It provides...
![Â Income Tax Dept Direction to Remit 30% Pre deposit on Stay of Recovery Petition: Kerala HC Directs to stay Proceedings Unconditionally [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Income-tax-Kerala-High-Court-income-tax-department-Pre-deposit-Recovery-petition-TAXSCAN.jpg "Â Income Tax Dept Direction to Remit 30% Pre deposit on Stay of Recovery Petition: Kerala HC Directs to stay Proceedings Unconditionally [Read Order]")
![Himachal Pradesh HC sets aside Demand for Income Tax of Rs. 2.73 crores, as Company’s Account Properly Reflects Transaction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Income-Tax-Himachal-Pradesh-High-Court-Companys-account-transactions-income-tax-TAXSCAN.jpg "Himachal Pradesh HC sets aside Demand for Income Tax of Rs. 2.73 crores, as Company’s Account Properly Reflects Transaction [Read Order]")
![Challenge on Condonation of Delay u/s 119(2)(b) of Income Tax Act for filing Form 10-IC : Gauhati HC Lists Matter on July 17th [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Challenge-on-Condonation-Condonation-of-Delay-Income-Tax-Act-Gauhati-High-Court-section-1192b-of-the-Income-Tax-Act-Income-Tax-Authority-incometax-updates-taxscan.jpg "Challenge on Condonation of Delay u/s 119(2)(b) of Income Tax Act for filing Form 10-IC : Gauhati HC Lists Matter on July 17th [Read Order]")
![Addition on Payment of Rent and Salary by Charitable Trust: ITAT Upholds Allowance of Exemptions under Section 11 Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-ITAT-mumbai-Tax-Exemption-for-Charitable-Trusts-Rent-and-Salary-Payment-Salary-Payment-by-Trust-taxscan.jpg "Addition on Payment of Rent and Salary by Charitable Trust: ITAT Upholds Allowance of Exemptions under Section 11 Income Tax Act [Read Order]")
No Undue Delay in Submitting Reply to SCN: Himachal Pradesh HC sets aside u/s 143 (3) of Income Tax Act and remits matter back to PCIT [Read Order]
The Himachal Pradesh High Court has set aside the order under Section 143(3) of the Income Tax Act, 1961, citing no undue delay in submitting the reply to the Show Cause Notice, and has remitted the...
![No Undue Delay in Submitting Reply to SCN: Himachal Pradesh HC sets aside u/s 143 (3) of Income Tax Act and remits matter back to PCIT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Himachal-Pradesh-High-Court-Principal-Commissioner-of-Income-Tax-SCN-Delay-in-Reply-to-SCN-taxscan-2.jpg "No Undue Delay in Submitting Reply to SCN: Himachal Pradesh HC sets aside u/s 143 (3) of Income Tax Act and remits matter back to PCIT [Read Order]")
AO Cannot Reopen Assessments under Income Tax Act in Block Period of Six Years in Absence of Incriminating Materials:Â Kerala HC [Read Order]
The Kerala High Court in a recent judgement has held that Assessing Officer ( AO ) cannot reopen assessments in block period of six years in absence of incriminating materials obtained during the...
![AO Cannot Reopen Assessments under Income Tax Act in Block Period of Six Years in Absence of Incriminating Materials:Â Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/AO-Assessments-under-Income-Tax-Act-Incriminating-Materials-Kerala-HC-TAXSCAN.jpg "AO Cannot Reopen Assessments under Income Tax Act in Block Period of Six Years in Absence of Incriminating Materials:Â Kerala HC [Read Order]")
Disallowance under Income Tax Act cannot be based on Presumptions of Earning Dividend Income in future: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that disallowance under Income Tax Act, 1961 cannot be based on presumptions of earning dividend income in future. It was found...
![Disallowance under Income Tax Act cannot be based on Presumptions of Earning Dividend Income in future: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-tax-Dividend-Income-Dividend-Income-Taxation-taxscan.jpg "Disallowance under Income Tax Act cannot be based on Presumptions of Earning Dividend Income in future: ITAT [Read Order]")
Issue on Income calculation made u/s 44-AE of the Income Tax Act for Awarding compensation : Orissa HC Directs Re calculation [Read Order]
The High Court of Orissa directed the recalculation on the issue of Income calculation made under Section 44-AE of the Income Tax Act, 1961 Â for Awarding compensation. The court held that the amount...
![Issue on Income calculation made u/s 44-AE of the Income Tax Act for Awarding compensation : Orissa HC Directs Re calculation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Income-calculation-us-44-AE-Income-Tax-Act-Orissa-HC-Re-calculation-TAXSCAN-1.jpg "Issue on Income calculation made u/s 44-AE of the Income Tax Act for Awarding compensation : Orissa HC Directs Re calculation [Read Order]")
ITAT deletes Addition of ‘On Money’ due to Lack of Information about Receipt of Money [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has deleted the income tax addition of ‘On Money’ due to lack of information about receipt of money. Yash Synthetics Private Limited, the...
![ITAT deletes Addition of ‘On Money’ due to Lack of Information about Receipt of Money [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-ITAT-Deletes-Addition-Income-Tax-Appellate-Tribunal-ITAT-mumbai-income-tax-addition-Income-Tax-taxscan.webp "ITAT deletes Addition of ‘On Money’ due to Lack of Information about Receipt of Money [Read Order]")