Read all Latest Updates on and about Assessment Proceedings

Top

Begin typing your search above and press return to search.

Home
»
Assessment Proceedings

Interests from FDRs not to be assessed under 'Income from Other Sources': ITAT [Read Order]

Taxscan Team

The Income Tax Appellate Tribunal ( ITAT ) has ruled that, Interests from Fixed Deposit Receipts ( FDRs ) not to be assessed under 'Income from Other...

ITAT deletes disallowance on Account of Interest Paid on Debit Balances of Capital Account with...

ITAT mistrusts Cash Gifts at the time of Marriage and Anniversary and Cash for Cancer Treatment...

Delhi High Court upholds Power to conduct Service Tax Audit [Read Judgment]

Assessee entitled for claim of Interest paid on Borrowed Capital: ITAT deletes Addition [Read Order]

CBDT lays out Guidelines for Compulsory Selection of Returns for Complete Scrutiny under Faceless Assessment for FY 2020-21 [Read Circular]

The Central Board of Direct Taxes (CBDT) on Thursday prescribed broad parameters for compulsory selection of returns for complete scrutiny under faceless assessment for Financial Year 2020-21. The...

No Penalty If Assessee has reasonable cause for non-filing of Income Tax Return: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that no penalty under section 271F of the Income Tax Act, 1961 is leviable since the assessee was under an impression that the sale...

ITAT allows Taxmann Publication claim of Depreciation on Intangible CMS Software [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi directed the Assessing Officer (AO) to allow the assessee, Taxmann Publication to claim depreciation on the intangible CMS software. The Assessee,...

In Accommodation Entry Business, entire Deposits can’t be assessed as Unexplained Cash Credits: Bombay HC [Read Order]

The High Court of Bombay recently ruled that in the Accommodation Entry Business, entire deposits cannot be assessed as unexplained cash credits. The Assessee, Alag Securities Pvt. Ltd is engaged in...

Penalty can’t be levied for Genuine Omissions in Income Tax Returns: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that genuine omissions must be excluded from the levy of penalty under section 271 (1)(a) of the Income Tax Act, 1961. During the...

CBDT issues Norms for Conduct of Assessment Proceedings through `E-Proceeding' Facility during Financial Year 2019-20 [Read Circular]

The Central Board of Direct Taxes (CBDT) has issued norms for conducting Assessment proceedings through ‘E-Proceeding’ facility during the financial year 2019-20. In exercise of its powers under...

No Penalty since Assessee surrendered Income during Assessment Proceedings: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that penalty under Section 271AAA of the Income Tax Act, 1961 cannot be levied if assessee surrendered the income during the course of...

Prev Page Next Page