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Notice Issued u/s 148 of the Income Tax Act in the Name of a Dead Individual is Void From Beginning: ITAT [Read Order]

Recently, the Income Tax Appellate Tribunal ( ITAT) of Jaipur ruled in a case that involved the issuance of notice under Section 148 of the Income...

No Sufficient Cause Shown: ITAT dismisses Income Tax Appeal due to Inordinate Delay in Filing [Read...

Income Tax Department cannot make Additions based on Statements Retracted during Search without...

Delay in Filing Appeal due to Service of FAA Notice to Old CA's Mail ID: ITAT remands Matter [Read...

Faceless Personal Hearing u/s 144B(6)(8) should be Granted Mandatorily if Requested: Madras HC [Read...

Addition u/s 69 of Income Tax Act Reduced without Considering Proper Evidences : ITAT Remands Matter Back to CIT(A) [Read Order]

The Ahmedabad bench of The Income Tax Appellate Tribunal ( ITAT ) recently allowed an appeal preferred by the Revenue against the decision made by Commissioner of Income Tax (Appeals) [ CIT (A) ]...

Missed the last date to file your Income Tax Returns? File belated ITR: Advantages, How-to and Last Date

What is a Belated Return? It is always most ideal to file Income Tax Returns (ITR) by the due date provided, however if one fails to file the ITR by the due date, there are other...

Income Tax Dept fails to Contradict Taxpayer’s Evidence for LTCG from Share Sale: Rajasthan HC Upholds ITAT Order [Read Order]

In a recent ruling, the Rajasthan High Court upheld the order of the Income Tax Appellate Tribunal ( ITAT ), observing that the income tax department failed to provide any contradictory evidence...

Cash Deposit out of Gold Loan during Demonetization, duly Explained: ITAT deletes Addition [Read Order]

The Pune bench of the Income Tax Appellate Tribunal ( ITAT ) has set aside the appellate order and deleted the addition made by the Assessing Officer(AO) of considering gold loan amount as...

S. 36(1)(viia) Deduction not allowable without Provision for Bad and Doubtful Debts in Books of Account: ITAT [Read Order]

The Hyderabad Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that deduction under Section 36(1)(viia) of Income tax Act, 1961 is not allowed without any provision for Bad and Doubtful...

AO cannot Change Valuation of Shares Method Selected u/s 56(2)(viib) r.w. Rule 11UA(2): ITAT [Read Order]

The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that the assessing officer cannot to interfere in the valuation of shares method selected by the assessee under section...

Axis Bank's ESOP Expenses Treated as Perquisites with TDS Deduction: ITAT allows Expenses u/s 37 [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ), upholding the CIT(A)’s decision, allowed deduction for Axis Bank’s ESOP expenses under Section 37 of the Income Tax Act as it is...

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