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Mere belated TDS Remittance won't attract Penalty u/s 271C of Income Tax Act: SC [Read Judgement]

The Supreme Court (SC) of India has held that mere belated TDS remittance won't attract a penalty under section 271C of the Income Tax Act, 1961. ...

Notice Served on Ex-Employee is “Reasonable Cause” for Non-Compliance: ITAT directs Re-Adjudication...

Eligible Deductions cannot be Disallowed Merely on Ground of Technicalities: ITAT [Read Order]

MNIT Employee, being a Govt Employee, Eligible for Full Exemption of Earned Leave Encashment on...

Gauhati HC directs CIT to refund Income tax deducted from the salary of BSF officer

Vague Notice Invalidates Penalty Proceedings u/s 271(1)(c) of Income Tax Act: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has recently in an appeal filed before it, held that vague notice invalidates penalty proceedings u/s 271(1)(c) of income tax act. The...

Revisional Jurisdiction cannot be Invoked on ground of Uncertain Issue of Entitlement of Treaty Benefit: ITAT [Read Order]

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that revisional jurisdiction could not be invoked on the ground of uncertain issue of entitlement of treaty benefit. ...

Trust Not Eligible for S. 12AB Registration under Pre-Amended Deed: ITAT [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) held that the trust was not eligible for section 12AB registration under pre amended deed. The assessee, Nenawat Chhogmal Jethamal Jain...

Valid Satisfaction required to Initiate Re-Opening of Assessment u/s 148 of Income Tax Act: ITAT [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) recently held that the valid satisfaction is required to initiate reopening of assessment under section148 of Income Tax Act. The...

No Reasonable Cause for Delay in filing Appeal: ITAT Refuses to Condone Huge Delay of 3047 based on Vague Reasons [Read Order]

The Hyderabad Bench of Income Tax Appellate Tribunal ( ITAT ) has refused to condone the huge delay of 3047 days based on vague reasons and on the ground of absence of reasonable cause for filing...

Solid Waste Expenses kept in a Temporary Site Is Accrued Liability, not Contingent Liability: ITAT Deletes Addition

The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) upheld the decision of the Commissioner of Income Tax (Appeals)[CIT(A)] and deleted the addition made by the Assessing Officer (AO) of...

Higher Rate of Depreciation at 50% Allowable on Commercial Vehicles Only: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Ahmedabad Bench, has recently, in an appeal filed before it, held that higher rate of depreciation at 50% is allowable on commercial vehicles only. The...

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