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Relief to Aircel Ltd: Madras HC quashes Income tax Penalty Proceedings as No hearing Granted, Hardly 24 Hrs Granted to Furnish Reply [Read Order]

Navasree A.M

While granting the relief to Aircel Limited, the Madras High Court has quashed the income tax penalty proceedings initiated against the company...

Income Tax Reassessment Initiated During Pending Assessment Proceedings: Delhi HC Sets Aside Order...

Revised Disallowance Claim u/s 14A should be Backed by Revised Certificate by Auditor in Form 3CA:...

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Same Supplies of Damro Furniture Subject to Assessment more than Once: Madras HC sets aside Order,...

ITAT quashes Income Tax Additions based on Third Party Statements [Read Order]

Assessment Proceedings should be conducted u/s 153C instead of Section 147 when material is found on Third-Party Premises: ITAT [Read Order]

In a recent judgement, the Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has ruled that, based on material found at a third person's premises, assessment proceedings should be conducted...

Taxpayer Rectifies Excess Salary Income Declaration with Revised Return: ITAT deletes Penalty u/s 271(1)(c) [Read Order]

In a significant ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under Section 271(1)(c) of the Income Tax Act,1961, after the taxpayer rectified the excess...

Assessment Proceedings u/s 153C of Income Tax Act initiated after 10 Years Block Period is Invalid: Delhi HC [Read Order]

The Delhi High Court has held that the initiation of Section 153C of the Income Tax Act assessment proceedings falling beyond the maximum 10-year block period is unsustainable. Flowmore Limited,...

No Corroborative Evidence to Prove that Taxpayer made any Payment of Rs. 5 crore: ITAT deletes Addition [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) has deleted the addition of 5 crore, citing the absence of corroborative evidence to prove that the taxpayer had indeed made any payment of Rs. 5 crores. ...

ITAT Orders Re adjudication of Commission and Brokerage Sales credited to P/L Account for Reliance Jio and Sun Direct Distributorships [Read Order]

The Two member bench of Bangalore Income Tax Appellate Tribunal ( ITAT ) directs readjudication regarding the commission and brokerage sale credited to Profit and Loss Account of distributorship to...

No TDS Deduction Required on Commission Income earned by Foreign Agents Outside India: ITAT deletes Disallowance [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ), after deleting the disallowance made by the assessing officer, held that Tax Deduction at Source ( TDS ) should not be deducted on...

Deferred Revenue expenditure incurred on account of leased Aircraft Engine Improvement: ITAT directs re adjudication [Read Order]

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) directed readjudication with respect to deferred revenue expenditure incurred on account of leased aircraft engine improvement. The...