Read all Latest Updates on and about assessment year

Top

Begin typing your search above and press return to search.

Home
»
assessment year

6-Year Limitation Period u/s 153C Commences from Date of Material Handover to AO, Not Date of Search or Notice: Madras HC [Read Order]

Kavi Priya

In a recent ruling, the Madras High Court held that under Section 153C of the Income Tax Act, the six-year limitation period for issuing a notice to...

Condonation of Delay Over Spam Email: ITAT Remands 12AB Registration Application to CIT(E) [Read...

ITAT Scraps Rs. 14.2 Crore 'On-Money' Tax Demand: No Evidence Found Against Real Estate Firm [Read...

Once Resolution Plan has approved by NCLT Commercial Tax Department cannot create further dues:...

Satisfaction Note by the AO for S.153C Assessment Need to Be Recorded for Each AY: ITAT Quashes...

Double Taxation of Income Already Offered to Tax in Subsequent Assessment Year: Orissa HC Overrides Appellate Remedy and Remits Order [Read Order]

The Orissa HighCourt recently set aside an assessment order passed under Section 147 read with Section 144 and 144B of the Income Tax Act, 1961, observing plausibility of double taxation of the same...

Penalty u/s 271D Imposed for Cash Transaction in Wrong AY: ITAT Directs AO to Delete Penalty [Read Order]

The Cuttack Bench of Income Tax Appellate Tribunal ( ITAT ) directed the deletion of penalty imposed under Section 271D of Income Tax Act,1961, holding that the cash transaction in question...

Urban Development Office Memo Limits Dues to Service Charges Alone, Not Property Tax: Delhi HC Orders to Enter agreement for Timely Payment [Read Order]

The Delhi High Court has directed the Northern Railways, Delhi Division, and the Municipal Corporation of Delhi (MCD) to enter into an agreement in terms of the Office Memorandum dated 15th/17th...

Real Estate Firm Backs Down: ITAT Formally Dismisses Uncontested Tax Appeal [Read Order]

In a brief hearing that concluded without contest, the Income Tax Appellate Tribunal (ITAT), Nagpur Bench, dismissed the appeal filed by real estate company Harmony Homes against the order passed by...

Option Money to be treated as “Capital Receipt”: ITAT Directs AO to Recompute Capital Gains on Dabur’s Sale of 23% Stake in Aviva JV [Read Order]

In a recent case, the Income Tax Appellate Tribunal (ITAT) has held that option money to be treated as “Capital Receipt” and directed Assessing Officer (AO) to recompute capital gains on Dabur’s...

GST Appeal Limitation Calculated from Physical Dispatch of Order: Madras HC rules Appeal Well Within Period [Read Order]

The Madras High Court has ruled that the limitation period for filing an appeal under GST ( Goods and Services Tax Act calculated from the date of physical dispatch of the assessment order is well...

ITAT Dismisses GE Steam Power System’s Appeal on opting for dispute Settlement under VSVS [Read Order]

In a recent case, the Income Tax Appellate Tribunal (ITAT) dismsises the appeal filed by GE Steam Power Systems as it opted for dispute settlement under Vivad se Vishwas Scheme, 2024 (‘VSVS’). ...