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Income Tax Act 1961

No Royalty on Licensing of Software: Delhi HC dismisses Appeal against Microsoft [Read Order]

Taxscan Team

In a major relief to Microsoft, the Delhi High Court has dismissed an appeal filed by the department upholding the ITAT order holding that licensing...

S. 148A Notice through E-filing Portal giving 7 Days to file Reply is 'Unreasonably Short', Prima...

Re-Assessment Notice via E-Portal received on 1st April 2022: Calcutta HC Temporarily Stays...

Loss on Trading in Derivatives of Securities can be Adjusted against Business Income: Bombay HC...

Income Tax Penalty not leviable in the Absence of Specific Charge against Assessee: ITAT [Read...

Reply to Notice couldn’t file due to Glitches on Income Tax Portal: Calcutta HC orders for Fresh Assessment [Read Order]

In an assessee-friendly ruling, the Calcutta High Court has asked the Assessing Officer to conduct fresh assessment proceedings since the assessee could not file the reply to notice due to technical...

Re-Assessment Order passed without allowing Assessee to file Objection is Invalid: Delhi HC [Read Order]

The Delhi High Court has held that the re-assessment under section 147/148 of the Income Tax Act, 1961 passed without allowing the assessee to file objection shall be deemed as invalid. The income...

Income Tax Dept failed to give Minimum Time to Respond: Delhi HC quashes S. 148 Notice [Read Order]

In an assessee-favouring ruling, the Delhi High Court has quashed a notice under section 148A of the Income Tax Act, 1961 by observing that the department failed to provide a minimum of seven days to...

Income Tax Return not filed after receiving Re-Assessment Notice: ITAT upholds Penalty [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has upheld the penalty order by observing that the income tax return was not filed after receiving the re-assessment notice under section 148...

Disallowance under section 14A not to be considered while computing Book Profit: ITAT [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the disallowance under section 14A of the Income Tax Act, 1961 cannot be considered while computing book profit under...

Re-Assessment cannot be made in a Casual and Whimsical Manner: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the re-assesment order cannot be made in a casual and whimsical manner under the provisions of section 147/148 of the Income Tax...

No Specific Charges mentioned in S. 274 Notice: ITAT deletes Penalty Order [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has quashed a penalty order by holding that the AO has not been specified under section 274 as to whether the penalty is proposed for...

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