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Income tax demand

ITAT has Power to Stay Cancellation of Charitable Registration Even Without Income Tax Demand: J&K & Ladakh HC [Read Order]

In a recent decision, the Jammu & Kashmir and Ladakh High Court said that the Income Tax Appellate Tribunal ( ITAT ) has the power to pause the...

Refund Adjustment against stayed Income Tax Demand Violates S.220(6) of Income Tax Act: Calcutta HC...

No Stay on Income Tax Demand as Assessee itself Proposed Instalment Payment before AO: Calcutta HC...

Income Tax Demands Against Empee Distilleries Extinguished After Approval of Resolution Plan: Madras...

Challenge on Income Tax Demand Based on assessment u/s 147 Not Maintainable before HC: Orissa HC...

Circular Transactions could be added Substantively Only Once: ITAT quashes Income Tax Demand [Read Order]

The Income Tax Appellate Tribunal (ITAT), ITAT Chennai Bench, has delivered a significant verdict in the case of Shri Tharanipathy Rajkumar relating to Assessment Year 2017-18, ruling that circular...

₹5 Crore Income Tax Demand Dropped! CA Praises Faceless Appeal for Hassle & Corruption Free Process

A proposed tax addition of Rs. 5 crores was dropped during the faceless appeal process by the Income Tax Department. The case involved an alleged unexplained unsecured loan under Section 68 of the...

Max Estates’ Subsidiary Receives ₹21.13 Lakh Income Tax Demand Order from NFAC

Max Estates Limited has reported that its subsidiary, Max Square Limited, has received an income tax demand order of Rs. 21.13 lakh from the National Faceless Appeal Centre (NFAC), part of the...

Bata India Receives Income Tax Demand Over Alleged Under-Reporting of Income

Footwear giant Bata India Limited has disclosed to stock exchanges that it has received an Assessment Order and Demand Notice from the Income Tax Department’s Assessment Unit under Section 156 of the...

Budget 2024-25 announces New Direct Tax Vivad se Vishwas Scheme, 2024 [Read bill]

The Union Budget 2024-25 has been presented in the Parliament by Finance Minister Nirmala Sitharaman with many proposed amendments The Indian government is set to introduce a new Direct Tax Vivad...

Budget 2024 - New Direct Tax - Vivad se Vishwas Scheme - Budget 2024-25 - Nirmala Sitharaman - taxscan

Supreme Court takes up Newsclick's Petition against Income Tax Demand, Issues Notice to Dept [Read Judgement]

The Supreme Court of India, after a long vacation of 50 days, has taken up the petition of Newclick against the income tax demand. The apex court issued notice to the income tax department. A...

Stay Petition against Assessment Order passed under Income Tax Act: Kerala HC directs to consider Delay Condonation Application for filing Appeal [Read Order]

The Kerala High Court directed to consider delay condonation application for filing appeal as the stay petition was filed against the assessment order passed under the Income Tax Act, 1961. ...