![Notice for penalty u/s 274 of Income Tax Act proceedings is initiated against inaccurate particulars of income not for Concealment of Income: ITAT deletes Penalty 9 [ Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Notice-penalty-Income-Tax-Act-proceedings-inaccurate-income-Concealment-Income-ITAT-Penalty-TAXSCAN.jpg "Notice for penalty u/s 274 of Income Tax Act proceedings is initiated against inaccurate particulars of income not for Concealment of Income: ITAT deletes Penalty 9 [ Read Order]")
Notice for penalty u/s 274 of Income Tax Act proceedings is initiated against inaccurate particulars of income not for Concealment of Income: ITAT deletes Penalty 9 [ Read Order]
The Income Tax Appellate Tribunal (ITAT) Pune bench held that notice for penalty under Section 274 of the Income Tax Act, 1961 proceedings is...
![Relief to Indus Towers: Delhi HC quashes Assessment Order under Income Tax Act on non compliance of Natural Justice [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Relief-Indus-TOWER-Delhi-HC-Assessment-Order-Income-Tax-Act-Natural-Justice-TAXSCAN.jpg "Relief to Indus Towers: Delhi HC quashes Assessment Order under Income Tax Act on non compliance of Natural Justice [Read Order]")
![Kerala HC sets aside Demand of Balance Tax Deposit as Assessee already Remitted Amount u/s 55 of KVAT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Kerala-HC-Demand-of-Balance-Tax-Deposit-Assessee-Remitted-Amount-KVAT-Act-TAXSCAN.jpg "Kerala HC sets aside Demand of Balance Tax Deposit as Assessee already Remitted Amount u/s 55 of KVAT Act [Read Order]")
![CBDT grants Tax Exemption to Punjab Dental Council, Mohali u/s 10(46) of Income Tax Act [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/10/CBDT-grants-Tax-Exemption-Punjab-Dental-Council-Mohali-Income-Tax-Act-TAXSCAN.jpg "CBDT grants Tax Exemption to Punjab Dental Council, Mohali u/s 10(46) of Income Tax Act [Read Notification]")
Setback to Triveni Glass Ltd: Supreme Court upholds levy of Sales Tax on tinted glass sheets as “goods or wares made of glass” [Read Order]
The Supreme Court has recently decided the matter of levy of sales tax on tinted glass sheets as ‘goods or wares made of glass’ against the assessee, Triveni Glass Ltd. The Supreme Court was in...
Tamil Nadu CM M K Stalin Announces 'Samadhan' Scheme to Alleviate Tax Dues for Small Traders w.e.f. 16th Oct 2023 to 15th Feb 2024
The Tamil Nadu government unveiled a groundbreaking Samadhan scheme aimed at resolving long-standing tax issues and providing significant relief to traders. With approximately ₹25,000 crore in...
Income Tax Dept agrees to Refund Rs. 190 Crores with Interest to Vedanta: Delhi HC sets Compliance Date for Oct 30th
The Income Tax (I-T) department has made a significant decision to refund an amount of Rs 190 crore, along with interest, to the mining conglomerate Vedanta pertaining to the assessment year (AY)...
4 days Time to Reply SCN is not Valid as per mandatory Provision under Income Tax Act: Kerala HC quashes Reassessment Order [Read Order]
In a significant case, the Kerala High Court quashed the reassessment order as the 4 days time allowed to file the reply to the show cause notice (SCN) is not valid as per mandatory provision under...
![4 days Time to Reply SCN is not Valid as per mandatory Provision under Income Tax Act: Kerala HC quashes Reassessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/4-days-Time-Reply-SCN-mandatory-Provision-Income-Tax-Act-Kerala-HC-Reassessment-Order-TAXSCAN.jpg "4 days Time to Reply SCN is not Valid as per mandatory Provision under Income Tax Act: Kerala HC quashes Reassessment Order [Read Order]")
No Penalty u/s 271(1)(c) of Income Tax Act can be Imposed when Assessee Sufficiently Proved the Bonafides of Losses Claimed: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that if bona fides of the losses claimed are sufficiently proved by the assessee and the onus has been primarily discharged on the...
![No Penalty u/s 271(1)(c) of Income Tax Act can be Imposed when Assessee Sufficiently Proved the Bonafides of Losses Claimed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-Penalty-Income-tax-Act-Imposed-Assessee-Sufficiently-Bonafides-Losses-Claimed-ITAT-TAXSCAN.jpg "No Penalty u/s 271(1)(c) of Income Tax Act can be Imposed when Assessee Sufficiently Proved the Bonafides of Losses Claimed: ITAT [Read Order]")
![CBDT extends deadlines for filing of Form 10B/10BB and Form ITR-7 for AY 2023-24 [Read Circular]](https://www.taxscan.in/wp-content/uploads/2023/09/CBDT-extends-deadlines-filing-Form-Form-ITR-7-AY-2023-24-TAXSCAN.jpg "CBDT extends deadlines for filing of Form 10B/10BB and Form ITR-7 for AY 2023-24 [Read Circular]")
ITAT issues Corrigendum for typographical errors in tribunal order in Deutsche Asset Management's Case [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench has issued a corrigendum for typographical errors in tribunal order in Deutsche Asset Management's Case. Assessee, Deutsche Asset Management...
![ITAT issues Corrigendum for typographical errors in tribunal order in Deutsche Asset Managements Case [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-Corrigendum-typographical-tribunal-Deutsche-Asset-Management-Case-TAXSCAN-1.jpg "ITAT issues Corrigendum for typographical errors in tribunal order in Deutsche Asset Managements Case [Read Order]")