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AO Fails to Apply CBDT Instructions regarding Cash Deposits During Demonetization: ITAT Remands for Re-Examination [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) remanded the matter for re-examination due to the assessing officer's failure to apply CBDT’s (Central Board of direct taxes) instructions...

AO Fails to Apply CBDT Instructions regarding Cash Deposits During Demonetization: ITAT Remands for Re-Examination [Read Order]
Kavi Priya

Jewelry Addition u/s 69B by Assuming Equal Ownership Among Cohabitants Invalid: ITAT [Read Order]

In a recent case, the Delhi ‘A’ bench of the Income Tax Appellate Tribunal ( ITAT ) held that income tax additions made on jewelry under section 69B of the Income Tax Act, 1961 was invalid as...

Jewelry Addition u/s 69B by Assuming Equal Ownership Among Cohabitants Invalid: ITAT [Read Order]
Varda Marakkar

From India to UAE: What Students Need to Know About Taxation Differences

For Indian students planning to study in the UAE, it’s essential to understand the tax systems of both countries. This guide provides a clear comparison of the tax structures in India and the UAE,...

Tax News - UAE vs India - tax laws - Indian students - Tax in UAE - TAXSCAN
Sneha Sukumaran Mullakkal

Relief Granted to Trust Despite Late Audit Report Submission: Calcutta High Court Upholds ITAT's Decision [Read Order]

In the recent case, the High Court of Calcutta dismissed the revenue petitioner’s appeal challenging the Income Tax Appellate Tribunal’s( ITAT ) decision for assessment year(AY) 2020-21. The Court...

Relief Granted to Trust Despite Late Audit Report Submission: Calcutta High Court Upholds ITATs Decision [Read Order]
Sneha Sukumaran Mullakkal

Filing of Audit Report before Framing Income Tax Assessment is Deemed Fulfilment of Section 80-IA(7) Requirement: Delhi HC [Read Order]

The Delhi High Court has ruled that an assessee is eligible for exemptions under Sections 11(1) and 11(2) of the Income Tax Act, and a procedural omission like not filing the audit report with the...

Filing of Audit Report before Framing Income Tax Assessment is Deemed Fulfilment of Section 80-IA(7) Requirement: Delhi HC [Read Order]
Manu Sharma

CBDT issues New Order Outlining Circumstances for Enquiry and Verification by Verification Unit [Read Order]

The Central Board of Direct Taxes ( CBDT ) has issued a new order dated 1st August 2024 specifying the circumstances for the purposes of enquiries or verification functions by the Verification Unit...

CBDT - New Order Outlining Circumstances - Enquiry - Verification - Verification Unit - taxscan
Navasree A.M

Income Tax Return Filing Due Date Extended? Know the Truth

As the end of July approaches, many taxpayers are anxiously awaiting news regarding the extension of the Income Tax Return (ITR) filing due date for the assessment year 2024-2025 or Financial Year...

Income Tax Return Filing Due Date Extended? Know the Truth
Manu Sharma

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