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Double Disallowance Not Permissible: Delhi HC Directs Rectification of ₹1.37 Cr Demand on Portronics [Read Order]

The Delhi High Court ruled that a demand arising from a double disallowance caused by a technical error in the income tax return cannot be sustained...

Section 11 Exemption Cannot Be Denied for Belated Form 10B Once Delay is Condoned: ITAT [Read Order]

ITAT allows Full Leave Encashment Exemption Up to ₹25 Lakhs to Retired SBI Employee [Read Order]

Delayed EPF/ESIC Payments Not Deductible: ITAT Upholds Rs 12.91 Lakh Disallowance u/s 36(1)(va)...

Payments to Residents: ITAT Upholds Restriction of Disallowance to 30% Based on Documentary Evidence...

Once Income Tax Form 10EE Furnished, it applies Automatically to Subsequent Years: ITAT allows Section 89A Benefit [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Mumbai Bench, has held that once a taxpayer exercises the option under Section 89A of the Income Tax Act, 1961 by furnishing Form 10EE, there is no...

ITAT Allows Carry Forward of Loss, Deletes Late Fee as Partner Filed Return Within Extended Due Date u/s 92E [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) allowed the carry forward of long-term capital loss and deleted the late filing fee of Rs. 5,000, holding that the return was filed within...

New Income Tax Portal en route? Here's What You can Expect

The Income Tax Department of India is preparing to revamp its e-filing ITR portal through Project IEC 3.0, aiming to provide taxpayers with a more user-friendly and secure platform. An internal...

Taxpayer Alleges Illegal Adjustments in Refund by Income Tax Dept: Madras HC Directs to Submit Consolidated Grievances before JAO [Read Order]

In a recent ruling, the Madras High Court directed the taxpayer-petitioner to submit the consolidated grievances with regards to adjustment in refund by the Income Tax before the Jurisdictional...

CBDT notifies Amendments of Income Tax Audit Form 3CD, 3CEB and 65 [Read Notification]

The Central Board of Direct Taxes ( CBDT ) has notified Amendments of Income Tax Audit Forms Form 3CD, Form 3CEB and Form 65 in a recent gazette notification. The notification reads as follows: – ...

Once TDS is Deducted then liability for Non-Deposit of TDS by Deductor can't be fasten on Deductee: ITAT [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that once Tax Deducted at Source (TDS) is deducted then liability for non-deposit of TDS by deductor cannot be fastened on the...

No need to get Accounts Audited when Gross Business Receipts is less than Rs.1.00 Crore as prescribed u/s 44AB: ITAT allows Appeal by Treating ITR as Valid [Read Order]

The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) allowed the appeal of the assessee by treating the Income Tax return (ITR) as valid and held that there is no need to audit the accounts...