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[TAXSCAN 360] Income Tax Rectification: Time Limits and Grounds for Seeking Rectification u/s 154

Navasree A.M

For both taxpayers and tax authorities, rectification is an important solution for resolving mistakes in the income tax orders. When there is an...

ITAT Condones 2202-Day Delay in Appeal Filing, due to Bona Fide Belief in Rectification u/s 154...

Eligibility for Deduction u/s 80P(2)(d) on Interest Earned from Co-operative Banks: ITAT Grants...

ITAT Excludes Inter-Branch Transfers from Turnover, Grants Concessional Tax Rate to Power and...

Delhi High Court - Transfer Pricing Order - Non Existent Entity - Income Tax Act - TAXSCAN

Framing of Transfer Pricing Order against Non-Existent Entity not a Curable Defect: Delhi HC [Read...

PACS Development Fund Contributions not Business Expense: ITAT upholds Disallownace Citing Binding Rajasthan High Court Precedent [Read Order]

The Jaipur Bench of Income Tax Appellate Tribunal ( ITAT ) disallowed the contributions to the PACS development fund to be deducted from tax under Section 154 of the Income Tax Act. The assessee...

Income Tax Portal Update: Rectification Application u/s 154 directly with AO Online Live on Portal

The Income Tax Department has updated its portal, enabling taxpayers to file rectification applications of Assessment Order issued by AO under Section 154 of the Income Tax Act, 1961, directly with...

ITAT sets aside Re-Assessment Order, due to Lack of Opportunity of being Heard and Errors in Employer-Employee Contributions [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has directed the Assessing Officer (AO) and the Centralized Processing Centre ( CPC ), Bangalore, to re-examine a case due to lack of...

Settlement Commission Order cannot be Rectified u/s 154 of Income Tax Act: Madras HC [Read Order]

The Madras High Court ruled that the Assessing Officer ( AO ) cannot rectify the order issued by the Settlement Commission. The rectification under Section 154 of Income tax Act, 1961 cannot be...

Delay in Filing Income Tax Appeal as Orders sent to Email was in Spam Folder: ITAT Condones Delay of 145 Days [Read Order]

The Cuttack Bench of Income Tax Appellate Tribunal ( ITAT ) has condoned the delay of 145 days in filing an Income Tax appeal as the assessee failed to receive the orders sent through email, as many...

Bombay HC directs Disciplinary Action against AO as no Order passed on Rectification Application under Income Tax Act for Six Years [Read Order]

The Bombay High Court directed disciplinary action against the Assessing Officer ( AO ) as no order was passed on the rectification application under the Income Tax Act, 1961 for six years. The...

Proceeding to Adjust Demand against Available Refunds without Considering Application u/s 220(6) of Income Tax Act is Arbitrary: Delhi HC [Read Order]

In a recent decision, the Delhi High Court observed that the proceeding to adjust demand against available refunds without considering application under Section 220(6) of the Income Tax Act, 1961 is...