![ITAT upholds NFAC Order for Recomputation of Income as ‘Capital Gains’ due to Improper Classification u/s68 r.w.s. 115BBE [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/capital-gain.jpg "ITAT upholds NFAC Order for Recomputation of Income as ‘Capital Gains’ due to Improper Classification u/s68 r.w.s. 115BBE [Read Order]")
ITAT upholds NFAC Order for Recomputation of Income as ‘Capital Gains’ due to Improper Classification u/s68 r.w.s. 115BBE [Read Order]
The Income Tax Appellate Tribunal (ITAT), Visakhapatnam recently upheld an order passed by the Commissioner of Income Taxes - National Faceless...
![Income Tax Penalty u/s 271(1)(c) Not Leviable After Offering Concealed Income under IDS Scheme: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-Tax-Penalty-Income-Tax-Penalty-Offering-Concealed-Income-under-IDS-Scheme-Concealed-Income-IDS-Scheme-ITAT-IDS-Taxscan.jpg "Income Tax Penalty u/s 271(1)(c) Not Leviable After Offering Concealed Income under IDS Scheme: ITAT [Read Order]")
![Deposit under IDS neither refunded nor adjusted against any Outstanding Demand: Bombay HC directs Income Tax Authorities to Refund [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Deposit-IDS-Deposit-under-IDS-neither-refunded-nor-adjusted-Outstanding-Demand-Bombay-High-Court-Income-Tax-Authorities-Refund-Bombay-HC-directs-Inc.jpg "Deposit under IDS neither refunded nor adjusted against any Outstanding Demand: Bombay HC directs Income Tax Authorities to Refund [Read Order]")
![Immunity under IDS is not available to Another Assessee other than the Declarant: Supreme Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/IDS-Assessee-Sc-taxscan.jpg "Immunity under IDS is not available to Another Assessee other than the Declarant: Supreme Court [Read Order]")
Declaration of Income under IDS, 2016 not a Reasonable Cause for Non-filing of Income Tax Return: ITAT upholds Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while upholding a penalty order passed under section 271F of the Income Tax Act, 1961 held that the declaration of income under the Income...
![Declaration of Income under IDS, 2016 not a Reasonable Cause for Non-filing of Income Tax Return: ITAT upholds Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Declaration-of-income-IDS-Income-Tax-Return-ITAT-Penalty-Taxsscan.jpg "Declaration of Income under IDS, 2016 not a Reasonable Cause for Non-filing of Income Tax Return: ITAT upholds Penalty [Read Order]")
IDS Scheme, 2016: Budget 2021 proposes Refund of Excess Payment to be sanctioned but No Interest [Read Finance Bill]
The Finance Minister, Nirmala Sitharaman while announcing the Budget 2021-22 has proposed the refund of excess payment to be sanctioned but no interest under Income Declaration Scheme, 2016 (IDS). ...
Income Declaration Scheme: Payments made by declarants on 3rd October, 2017 shall also be deemed to have been paid by due date for Third Installment, says CBDT [Read Circular]
The Central Board of Direct Taxes ( CBDT ) has clarified that, all payments made/effected by the declarants on 3rd October, 2017 shall also be deemed to have been paid by the due date for the third...
![Income Declaration Scheme: Payments made by declarants on 3rd October, 2017 shall also be deemed to have been paid by due date for Third Installment, says CBDT [Read Circular]](https://www.taxscan.in/wp-content/uploads/2016/07/Income-Declaration-Scheme-2016.jpg "Income Declaration Scheme: Payments made by declarants on 3rd October, 2017 shall also be deemed to have been paid by due date for Third Installment, says CBDT [Read Circular]")
IBA directs Banks to accept banned Currency Notes for IDS payments till 2017 without asking source
The Indian Banks Association recently directed the banks to accept Rs. 500 and Rs. 1000 notes for the payment of tax, penalty and interest payments in connection with the IDS scheme. The last date for...
CBDT clarifies unconfirmed reports speculating on the taxpayers’ response to the currently on-going Income Disclosure Scheme 2016 [Read Instructions]
Certain sections of the press have been speculating on the taxpayers’ response to the currently on-going Income Declaration Scheme (IDS) 2016 over the last couple of days. The Central Board of Direct...