Read all Latest Updates on and about Return of Income

Begin typing your search above and press return to search.

Home
»
Return of Income

Income Tax Reassessment Jurisdiction Fails Without Fresh Material: SC Upholds Gujarat HC in GTPL Hathway Case [Read Order]

In a recent ruling SC upheld that the Gujarat HC orders quashing the reopening of assessment against GTPL Hathway Ltd for the assessment year 2017-18,...

Partial Relief for IIECL: ITAT Holds Only Profit Margin Taxable, Restricts Addition on ₹92.20 Lakh...

No Disallowance u/s 14A r/w Rule 8D can be Made When No Exempt Income Earned: ITAT [Read Order]

Share Premium from Earlier Year Not Taxable: ITAT Deletes ₹6.40 Lakh Addition u/s 68 [Read Order]

Relief to Contractor: ITAT Deletes ₹12.44 Lakh Income Tax Addition u/s 68 on Cash Deposits,...

Excessive Suo-Motu Disallowance u/s 14A Restricted: ITAT Grants Relief to Hero Cycles Ltd. in Income Tax Appeal [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chandigarh Bench, considered the appeal of an assessee regarding its own disallowance under Section 14A of the Income Tax Act, 1961, reiterated that where...

Sale proceeds Mistakenly recorded in CGDS Account: Meghalaya HC directs Assessee to file revised Return [Read Order]

The Meghalaya High Court directed the assessee to file the revised return rectifying the mistake made of recording sale proceeds in Capital Gain Deposit Scheme (CGDS) Account. The writ...

Denial of TDS Credit Due to Form 26AS Mismatch: ITAT Directs AO to Verify Taxpayer Receipt and Allow Full Credit [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) directed the Assessing Officer (AO) to verify the taxpayer receipt and allow full credit where the Tax Deducted at Source (TDS) credit...

Delay in Filing Appeal Due to Illiteracy and Email Issues: ITAT Condones 349-Day Delay, Restores Ex-Parte Assessment to AO for Verification [Read Order]

Ningaiah Siddu,The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) condoned a 349-day delay in filing the appeal before the Commissioner of Income Tax (Appeals) [CIT(A)], attributing it...

Reassessment After 4 Years With Same Set of Facts Which Already Available During Original Assessment Legally Bad: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has set aside the reassessment order and declared the reopening of the assessment for Assessment Year (AY) 2012-13 after 4 years with the...

ITAT Rejects DVO Valuations, Ensures Equal Treatment Among Co-owners [Read Order]

In a recent ruling, the Bangalore Bench of the Income Tax Appellate Tribunal( ITAT) rejected DVO valuations and ensured equal treatment among co-owners. Rita Goel, the assessee, had filed her...

Validity of Final Assessment Order Despite Pending DRP Objections: Delhi HC sets aside the Order [Read Order]

In the recent ruling, the High Court of Delhi, set aside the Final Assessment Order passed by the Assessing Officer (AO) for AY 2022-23, as the assessee's objections were still pending before the...