Income Tax TDS Credit Claim Issue: Here’s All You Need to Do on ITR-Form 26AS-AIS Mismatch
You might find yourself in a situation where you are being asked to pay 60% tax on your income despite your effective tax liability being only 30% if...
![No TDS applicable on Race Promotion Contract Fees Taxable at the hands of Payee: ITAT quashes Income Tax Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/TDS-Race-promotion-contract-Taxable-payee-Income-Tax-Contract-Fees-ITAT-Taxscan.jpg "No TDS applicable on Race Promotion Contract Fees Taxable at the hands of Payee: ITAT quashes Income Tax Disallowance [Read Order]")
![Provisions of Deemed Gift u/s 56(2)(vii)(b) of Income Tax Act cannot be Applied Retrospectively: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Deemed-Gift-Gift-Income-Tax-Act-Income-Tax-Tax-Taxscan.jpg "Provisions of Deemed Gift u/s 56(2)(vii)(b) of Income Tax Act cannot be Applied Retrospectively: ITAT [Read Order]")
No Liability for paying Tax either under ‘Construction of Complex Service’ or ‘Works Contract’ would lie on Builder or promoter prior to 01.07.2010: CESTAT [Read Order]
The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), ruled that there is no liability for paying tax either under ‘construction of complex service’ or ‘works...
![No Liability for paying Tax either under ‘Construction of Complex Service’ or ‘Works Contract’ would lie on Builder or promoter prior to 01.07.2010: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Liability-for-paying-Tax-paying-Tax-Construction-of-Complex-Service-Works-Contract-Builder-promoter-CESTAT-taxscasn.jpg "No Liability for paying Tax either under ‘Construction of Complex Service’ or ‘Works Contract’ would lie on Builder or promoter prior to 01.07.2010: CESTAT [Read Order]")
Income Tax Payers Advised to Look out for ITR-AIS Mismatch and File Updated Returns: CBDT Issues Press Release
The Central Board of Direct Taxes ( CBDT ) has released a press release on e-Verification Scheme, advising income taxpayers to file updated returns in case of unreported or underreported income....
Compensation from Builder in lieu of Consumer Court Order is Capital Receipt, No Income Tax: ITAT quashes Revision Proceedings [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) held that no income tax is to be levied on compensation from builders in lieu of a consumer court order as the same is in the nature of...
![Compensation from Builder in lieu of Consumer Court Order is Capital Receipt, No Income Tax: ITAT quashes Revision Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Compensation-Builder-in-lieu-Consumer-Court-Consumer-Court-Order-Capital-Receipt-Income-Tax-ITAT-Revision-Proceedings-Taxscan.jpg "Compensation from Builder in lieu of Consumer Court Order is Capital Receipt, No Income Tax: ITAT quashes Revision Proceedings [Read Order]")
Notice u/s 148A(b) of Income Tax Act issued against Non-Existing Entity is not valid: Calcutta HC [Read Order]
In a recent judgement the Calcutta High Court (HC) has held that the notice under section 148A(b) of the Income Tax Act, 1961 issued against a non-existing entity is not valid. Orbit Projects...
![Notice u/s 148A(b) of Income Tax Act issued against Non-Existing Entity is not valid: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Notice-Income-Tax-Act-Income-Tax-Tax-Calcutta-High-Court-Taxscan.jpg "Notice u/s 148A(b) of Income Tax Act issued against Non-Existing Entity is not valid: Calcutta HC [Read Order]")
Penalty u/s 271B of Income Tax Act cannot be Imposed for Not Getting Books of Accounts Audited for Violation of S. 44AB: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Jaipur Bench, has recently, in an appeal filed before it, held that penalty u/s 271B of Income Tax Act cannot be imposed for not getting books of accounts...
![Penalty u/s 271B of Income Tax Act cannot be Imposed for Not Getting Books of Accounts Audited for Violation of S. 44AB: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Penalty-Income-Tax-Act-Income-Tax-Books-of-Accounts-Audit-ITAT-Taxscan.jpg "Penalty u/s 271B of Income Tax Act cannot be Imposed for Not Getting Books of Accounts Audited for Violation of S. 44AB: ITAT [Read Order]")