Read all Latest Updates on and about assessment year

Top

Begin typing your search above and press return to search.

Home
»
assessment year

Apollo Tyres’ Weighted Deduction Claim u/s 35(2AB) Rejected: Supreme Court Refuses to Re-open Case [Read Judgement]

Navasree A.M

The Supreme Court has dismissed the SLP filed by the Apollo tyres seeking weighted deduction under Section 35(2AB) of the Income-tax Act, 1961, for...

Income Tax Dept Releases Updated Excel Utilities for ITR-5, 6, 7 (AYs 2021-22 & 2022-23) and Offline...

6-Year Limitation Period u/s 153C Commences from Date of Material Handover to AO, Not Date of Search...

Condonation of Delay Over Spam Email: ITAT Remands 12AB Registration Application to CIT(E) [Read...

ITAT Scraps Rs. 14.2 Crore 'On-Money' Tax Demand: No Evidence Found Against Real Estate Firm [Read...

Once Resolution Plan has approved by NCLT Commercial Tax Department cannot create further dues: Allahabad HC [Read Order]

In a recent case, the Allahabad High Court quashed the passed under section 28(2) (ii) of the U.P. VAT Act 2008 and under section 9(4) of the U.P. Tax on Entry of Goods Act 2007 demanding tax,...

Satisfaction Note by the AO for S.153C Assessment Need to Be Recorded for Each AY: ITAT Quashes ₹2.11 Crore Addition Citing Combined Satisfaction Note [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the satisfaction note under Section 153C of the Income Tax Act, 1961, must be recorded separately for each assessment year and...

Double Taxation of Income Already Offered to Tax in Subsequent Assessment Year: Orissa HC Overrides Appellate Remedy and Remits Order [Read Order]

The Orissa HighCourt recently set aside an assessment order passed under Section 147 read with Section 144 and 144B of the Income Tax Act, 1961, observing plausibility of double taxation of the same...

Penalty u/s 271D Imposed for Cash Transaction in Wrong AY: ITAT Directs AO to Delete Penalty [Read Order]

The Cuttack Bench of Income Tax Appellate Tribunal ( ITAT ) directed the deletion of penalty imposed under Section 271D of Income Tax Act,1961, holding that the cash transaction in question...

Urban Development Office Memo Limits Dues to Service Charges Alone, Not Property Tax: Delhi HC Orders to Enter agreement for Timely Payment [Read Order]

The Delhi High Court has directed the Northern Railways, Delhi Division, and the Municipal Corporation of Delhi (MCD) to enter into an agreement in terms of the Office Memorandum dated 15th/17th...

Real Estate Firm Backs Down: ITAT Formally Dismisses Uncontested Tax Appeal [Read Order]

In a brief hearing that concluded without contest, the Income Tax Appellate Tribunal (ITAT), Nagpur Bench, dismissed the appeal filed by real estate company Harmony Homes against the order passed by...

Option Money to be treated as “Capital Receipt”: ITAT Directs AO to Recompute Capital Gains on Dabur’s Sale of 23% Stake in Aviva JV [Read Order]

In a recent case, the Income Tax Appellate Tribunal (ITAT) has held that option money to be treated as “Capital Receipt” and directed Assessing Officer (AO) to recompute capital gains on Dabur’s...