PCIT

PCIT can’t form another view on same issue if AO has already passed order: ITAT rules in favour of Bank of India [Read Order]

December 9, 2020

ITAT - PCIT - Bank of India - Transfer Pricing Officer - ALP - Taxscan

PCIT rightly directed the Bank of India’s case to Transfer Pricing Officer for determining ALP: ITAT [Read Order]

October 10, 2020

Assessment Order can’t erroneous merely for reason that PCIT doesn’t agree with view taken by AO: ITAT grants relief to Tata Housing

October 5, 2020

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ITR - Tax Credit - Income Tax Dept - Taxscan

ITR not processed yet? Make sure you check and resolve your Tax Credit mismatch, urges Income Tax Dept

February 26, 2021

The Income Tax Department has urged that if your ITR is not processed yet then in that case make sure you check and resolve your Tax Credit mismatch. You can check and resolve the Tax Credit mismatch by logging in your e-filing account and check for tax credit mismatch and depending on the reason you […]

ITAT- AO - on-money receipts- undisclosed income - taxscan

ITAT directs Assessing Officer to add only 12% of On-Money Receipts as Undisclosed Income [Read Order]

February 26, 2021

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench directed the AO to add only 12% of on-money receipts as undisclosed income. The assessee, M/s. Bhalchandra Trading P. Ltd. raised the issue of whether the CIT(A) was justified in confirming the addition of Rs.5,34,819 as income from inflation of expenses in the facts and circumstances of […]

Income Tax - Income Tax Search - Income Tax Seizure - Understanding the gamut - Dumb Documents - Taxscan

Income Tax Search and Seizure: Understanding the gamut of Dumb Documents unearthed in an Income Tax Search and Seizure action

February 26, 2021

Introduction:- It is seen in the course of practice on the subject that during the course of Search and Seizure actions, voluminous documents are seized which may also include numerous loose papers, diaries, note pads which may contain rough calculations, vague notings, scribbling and jottings etc. There may be instances where such documents may be […]

Rajasthan Budget 2021 - Rajasthan Govt - VAT on Petroleum Crude - Taxscan

Rajasthan Budget 2021: Rajasthan Govt. proposes 5% VAT on Petroleum Crude [Read Notification]

February 26, 2021

The Rajasthan Government while proposing Rajasthan Budget 2021 notified the 5% VAT on Petroleum Crude. The State Government being of the opinion that it is expedient in the public interest, inserted Petroleum Crude in the Schedule VI appended to the Rajasthan Value Added Tax Act, 2003 Act. The prices of petrol and diesel are broadly […]

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ITR not processed yet? Make sure you check and resolve your Tax Credit mismatch, urges Income Tax Dept

February 26, 2021

ITAT directs Assessing Officer to add only 12% of On-Money Receipts as Undisclosed Income [Read Order]

February 26, 2021

Income Tax Search and Seizure: Understanding the gamut of Dumb Documents unearthed in an Income Tax Search and Seizure action

February 26, 2021

Rajasthan Budget 2021: Rajasthan Govt. proposes 5% VAT on Petroleum Crude [Read Notification]

February 26, 2021

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