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Power Charges Provision Based On Actual Bills Not A Contingent Liability: ITAT Rejects CPC Disallowance u/s 143(1) [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) considered the issue regarding the allowance of a provision created toward payment of...

Advance Tax Delay Depends on Date of Electronic Payment, Not Credit Date: ITAT Quashes ₹1.23 Cr...

Double Disallowance Not Permissible: Delhi HC Directs Rectification of ₹1.37 Cr Demand on Portronics...

Section 11 Exemption Cannot Be Denied for Belated Form 10B Once Delay is Condoned: ITAT [Read Order]

ITAT allows Full Leave Encashment Exemption Up to ₹25 Lakhs to Retired SBI Employee [Read Order]

Delayed EPF/ESIC Payments Not Deductible: ITAT Upholds Rs 12.91 Lakh Disallowance u/s 36(1)(va) r.w.s 43B [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently dismissed an appeal filed by an assessee challenging the disallowance of Rs.12,91,486 under section 36(1)(va) read with section...

Payments to Residents: ITAT Upholds Restriction of Disallowance to 30% Based on Documentary Evidence [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) confirmed the Commissioner of Income Tax (Appeal) [CIT(A)]'s decision to restrict the disallowance under Section 40(a)(i) to 30% after...

Once Income Tax Form 10EE Furnished, it applies Automatically to Subsequent Years: ITAT allows Section 89A Benefit [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Mumbai Bench, has held that once a taxpayer exercises the option under Section 89A of the Income Tax Act, 1961 by furnishing Form 10EE, there is no...

ITAT Allows Carry Forward of Loss, Deletes Late Fee as Partner Filed Return Within Extended Due Date u/s 92E [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) allowed the carry forward of long-term capital loss and deleted the late filing fee of Rs. 5,000, holding that the return was filed within...

New Income Tax Portal en route? Here's What You can Expect

The Income Tax Department of India is preparing to revamp its e-filing ITR portal through Project IEC 3.0, aiming to provide taxpayers with a more user-friendly and secure platform. An internal...

Taxpayer Alleges Illegal Adjustments in Refund by Income Tax Dept: Madras HC Directs to Submit Consolidated Grievances before JAO [Read Order]

In a recent ruling, the Madras High Court directed the taxpayer-petitioner to submit the consolidated grievances with regards to adjustment in refund by the Income Tax before the Jurisdictional...

CBDT notifies Amendments of Income Tax Audit Form 3CD, 3CEB and 65 [Read Notification]

The Central Board of Direct Taxes ( CBDT ) has notified Amendments of Income Tax Audit Forms Form 3CD, Form 3CEB and Form 65 in a recent gazette notification. The notification reads as follows: – ...