The Income Tax Department has recently tweeted that the window to file the updated Income Tax Returns (ITR) for the Assessment Year 2020-2021 is open till March 31, 2023. The tweet said, “Last date to

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, in an appeal filed before it, while deleting penalty based on estimated addition, held that entire bogus purchases cannot be disallowed when sales are not

The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has recently, while deleting the penalty u/s 271(1)(c) in an appeal filed before it, held that omission of income due to human error committed by accountant, is

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) has held that the software insurance charges are excludable from export turnover under Section 10AA of the Income Tax Act 1961. The assessee, Mindtree Limited is

The Mumbai Bench Income Tax Appellate Tribunal ( ITAT ) has while deleting the addition made by the assessing officer and held that offshore supply of escalators and elevators are not taxable in India. Assessee

The Raipur Bench of Income Tax Appellate Tribunal (ITAT) has held that the firm comprising of individual partners could not be treated as Association of People (AOP). The return of the assessee firm, D.M Builders which

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has allowed the depreciation claim holding that once a trust is assessed as Association of Persons (AOP) has been denied exemption under Section 11 of the

In a significant case of Lakshdeep Investments & Finance Pvt. Ltd., the Bombay High Court (HC) has quashed the reassessment notice under section 148 of the Income Tax Act, 1961 which was issued without jurisdiction

The Jaipur Bench of Income Tax Appellate Tribunal (ITAT) has held that the Malviya National Institute of Technology (MNIT) employee being a government employee would be eligible for full exemption of earned leave encashment at

The Allahabad bench of the Income Tax Appellate Tribunal (ITAT) has recently directed the centralized processing center (CPC) to ensure compliance with natural justice principles mandatory under faceless schemes. Assessee Umrao Singh Smarak Samiti, filed

The Allahabad bench of the Income tax appellate tribunal has recently held that the assessee was not willing to remove the defect regarding the deficient appeal fee and hence the appeal of the assessee has been

The Allahabad bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the assessee is eligible for claiming depreciation on goodwill as goodwill has been taken into account while determining the face value

On Wednesday, the Chief Justice of Telangana High Court, Ujjal Bhuyan, presided over a case brought by Tech Mahindra against the Income Tax department. The Chief Justice heard arguments from senior counsel Jehangir Mistry, who

The Chennai bench of the Income Tax Appellate Tribunal (ITAT)has recently held that the  Assessing Officer (AO)could not change the  method which was followed by the assessee from discounted cash flow to Net Asset Value

The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT )has recently quashed the disallowance for payment done in lieu of race promotion contract expenses as the same was taxable at the hands of