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Bombay HC quashes Re-Assessment Order passed u/s 263 of Income Tax Act [Read Order]

Aparna. M

In a significant case the Bombay High court quashed a Re-Assessment Order passed under section 263 of Income Tax Act 1961. Section 263 of Income...

Bombay HC quashes Re-Assessment Notice citing jurisdictional errors by AO [Read Order]

Education Cess is Not Allowable as Expenditure u/s 37 of Income Tax Act: ITAT [Read Order]

Cash Deposit during Demonetization: ITAT Partially Upholds Addition in the Absence of Statement of...

Permission under Development Agreement for Construction, not Transfer under Income Tax Act: Bombay...

Interest paid on Customs Duty Deductible u/s 43B of Income Tax Act: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Pune Bench, has recently, in an appeal filed before it, held that interest paid on customs duty is deductible u/s 43Bof the Income Tax Act, 1961. The...

Filing of Income Tax Return of Company being Director but failure to file individual ITR: Mumbai Sessions Court confirms conviction u/s 276CC of Income Tax Act [Read Order]

The Mumbai Sessions Court confirmed conviction under Section 276CC of the Income Tax Act, 1961 on the ground that there was filing of the Income Tax Returns (ITR) of a company being director but...

Notice issued u/s 148 of Income Tax Act towards a Non-Existent Company is not valid: Bombay HC [Read Order]

The Bombay High Court (HC) in its recent judgement has held that notice issued under section 148 of the Income Tax Act, 1961 towards a non-existent Company is not valid. CLSA India Private...

AO couldn’t point out Deficiency in Documents, No Addition u/s 68 of Income Tax Act: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Kolkata Bench observed that the assessing officer could not point out deficiency in documents ,therefore no addition under section 68 of Income...

Service Tax Penalty Not Deductible as Business Expenditure u/s 37(1) of Income Tax Act: ITAT [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has held that the service tax penalty is not deductible as business expenditure under Section 37(1) of the Income Tax Act 1961. The...

Income Tax Exemption to Trust u/s 11 cannot be Denied in respect of Income from Letting Out of School Auditorium for Public: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, held that Income Tax exemption to trust u/s 11 cannot be denied in respect of income from letting...

Deeming Provision cannot be Applied Mechanically Ignoring Facts of the Case and Surrounding Circumstances: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that deeming provision cannot be applied mechanically, ignoring the facts of the case and...

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