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Income Tax Act 1961

Income Tax Addition cannot be made due to Misreporting by Insurance Company: ITAT [Read Order]

Aparna. M

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently held that income tax addition could not be made due to misreporting by...

4 days to appear in Income Tax Office is inconsistent with mandatory Time prescribed u/s 148A(b):...

Income Tax Notice issued u/s 148A(b) on dissolved Partnership is not valid: Delhi HC [Read Order]

Calcutta HC - Order us 148A(d) of Income Tax Act - non-application of Mind - Taxscan

Calcutta HC quashes Order u/s 148A(d) of Income Tax Act with non-application of Mind [Read Order]

Kidney Failure a “Reasonable Cause” for Non-Compliance during Assessment Proceedings: ITAT directs...

Union FM Nirmala Sitharaman to Discuss Finance Bill before Lok Sabha on March 24, 2023

The Lok Sabha has scheduled the discussion on the Finance Bill and its passing on March 24, 2023. Nirmala Sitharaman, the finance minister, will move that the (Finance) Bill be taken into...

Union FM Nirmala Sitharaman - Finance Bill - Lok Sabha - Taxscan

Misplacement of Documents Not a “Sufficient Explanation for Delay”: ITAT refuses to Condone Delay of 930 Days in filing Appeal

The Hyderabad bench of Income Tax Appellate Tribunal (ITAT) held that the delay in filing of the appeal by 930 days by the assessee cannot be condoned and the misplacement of document is not a...

Income Tax Exemption u/s 10(26AAB) on Fee Earned by APMC to regulate Poultry Market: Delhi HC [Read Order]

In a recent judgement, the Delhi High Court has held that the fee earned by an Agricultural Produce Marketing Committee (APMC) for regulating the poultry market is exempted under section 10(26AAB) of...

AO Fails to Open and Examine Seized Materials: Orissa HC against Appraisal Report

The assessment order of the Assessing Officer (AO) was overturned by the Orissa High Court (HC), which was presided over by a bench that included Chief Justice Dr. S. Muralidhar and Justice G....

AO - Open and Examine Seized Materials - Orissa HC - Appraisal Report - Taxscan

Usurping Jurisdiction Not a Mere Technical Defect Curable u/s 292B of Income Tax Act: ITAT Quashes Re-Assessment [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT)has quashed the re assessment holding that usurping jurisdiction could not be a mere technical defect curable under Section 292B of the Income...

ITAT grants Partial Tax Relief to Adani Power Ltd [Read Order]

The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) has recently granted partial tax relief to Adani Power Limited. During the relevant assessment year, the assessee Adani Power Ltd has...

Capital Gain Exemption u/s 54F Allowable to Purchase of Undivided Share of Land: ITAT [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption under Section 54F was allowable to the purchase of undivided share of land. The assessee Justice...

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