HUF: Income Tax Benefits and Drawbacks
Hindu Undivided Family (HUF) is a group of people who are all directly derived from the same ancestor, including their spouses and unmarried...
![Penalty Imposed by AO u/s 271(1)(b)Â Income Tax Act for Non- Compliance to Notices issued during Assessment is within the Limitation Period: ITAT Dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Penalty-Imposed-by-AO-Income-Tax-Act-for-Non-Compliance-to-Notices-issued-Assessment-Limitation-Period-ITAT-Dismisses-Appeal-TAXSCAN.jpg "Penalty Imposed by AO u/s 271(1)(b)Â Income Tax Act for Non- Compliance to Notices issued during Assessment is within the Limitation Period: ITAT Dismisses Appeal [Read Order]")
![Prosecution for Wilful Tax Evasion has to be launched by Deputy Director of Income Tax once Sanction has been given to the Authority: Telangana HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Prosecution-Wilful-Tax-Evasion-launched-Deputy-Director-Income-Tax-Authority-Telangana-HC-taxscan.jpg "Prosecution for Wilful Tax Evasion has to be launched by Deputy Director of Income Tax once Sanction has been given to the Authority: Telangana HC [Read Order]")
![Supreme Court Dismisses SLP Seeking Income Tax Search Based on Secret Information for Non- Prosecution [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2023/10/Supreme-Court-Dismisses-SLP-Seeking-Income-Tax-Search-Based-on-Secret-Information-for-Non-Prosecution-TAXSCAN.jpg "Supreme Court Dismisses SLP Seeking Income Tax Search Based on Secret Information for Non- Prosecution [Read Judgment]")
Claim of Exemption u/s 80(P) of Income Tax Rejected as assesse failed to Prove as Cooperative Society: Kerala HCÂ stays Recovery of Proceedings [Read Order]
In a recent case, the Kerala High Court stayed the recovery proceeding against the cooperative society which was initiated after rejecting the claim of exemption under section 80(P) of the Income Tax...
![Claim of Exemption u/s 80(P) of Income Tax Rejected as assesse failed to Prove as Cooperative Society: Kerala HCÂ stays Recovery of Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Claim-of-Exemption-Exemption-Claim-Income-Tax-Income-Tax-Rejected-as-assesse-assesse-Cooperative-Society-Kerala-HC-taxscan.jpg "Claim of Exemption u/s 80(P) of Income Tax Rejected as assesse failed to Prove as Cooperative Society: Kerala HCÂ stays Recovery of Proceedings [Read Order]")
Delay of 277 days in filing Income tax Appeal: Kerala HC directs Income Tax Commissioner to Decide Condonation Application [Read Order]
The Kerala High Court directed the Income tax department to decide the condonation application for 277 days in filing the Income tax Appeal and the stay application. M/S Sheikh Sons, the...
![Delay of 277 days in filing Income tax Appeal: Kerala HC directs Income Tax Commissioner to Decide Condonation Application [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Delay-of-277-days-filing-Income-tax-Appeal-Kerala-HC-Income-Tax-Commissioner-Decide-Condonation-Application-TAXSCAN.jpg "Delay of 277 days in filing Income tax Appeal: Kerala HC directs Income Tax Commissioner to Decide Condonation Application [Read Order]")
Bonafide Mistake in Computing Income Tax is not Furnishing Inaccurate Particulars or Concealment of Income : ITAT Deletes Penalty u/s 271(1)(c) of Income Tax Act [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that the standard belief or mistake in computing income tax cannot be termed as furnishing of inaccurate particulars or concealment of...
![Bonafide Mistake in Computing Income Tax is not Furnishing Inaccurate Particulars or Concealment of Income : ITAT Deletes Penalty u/s 271(1)(c) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Bonafide-Mistake-Computing-Income-Tax-Furnishing-Inaccurate-Particulars-Concealment-of-Income-ITAT-Deletes-Penalty-Income-Tax-Act-taxscan.jpg "Bonafide Mistake in Computing Income Tax is not Furnishing Inaccurate Particulars or Concealment of Income : ITAT Deletes Penalty u/s 271(1)(c) of Income Tax Act [Read Order]")
Income Tax Addition of 6 Crores on Income Derived From House Property Abutting Assessee's Hotel: Delhi HC dismisses Appeal as matter Pending Before SC [Read Order]
The Delhi High Court dismissed the appeal on the issue of an Income tax addition of 6 crores on income derived from house property under the Income Tax Act, 1961 abutting the assessee's hotel. The...
![Income Tax Addition of 6 Crores on Income Derived From House Property Abutting Assessees Hotel: Delhi HC dismisses Appeal as matter Pending Before SC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-Addition-Income-Derived-From-House-Property-Abutting-Assessees-Hotel-Delhi-HC-dismisses-Appeal-Pending-Before-SC-TAXSCAN.jpg "Income Tax Addition of 6 Crores on Income Derived From House Property Abutting Assessees Hotel: Delhi HC dismisses Appeal as matter Pending Before SC [Read Order]")
CBDT Introduces Form 10-IFA for Co-operative Societies Choosing Tax Regime under Section 115BAE of Income Tax Act, inserts new Rule 21AHA [Read Notification]
The Central Board of Direct Taxes (CBDT) vide notification no. G.S.R.702(E) issued on 29th September 2023 has notified Income-tax (Twenty-Third Amendment) Rules, 2023. The board has inserted new Rule...
![CBDT Introduces Form 10-IFA for Co-operative Societies Choosing Tax Regime under Section 115BAE of Income Tax Act, inserts new Rule 21AHA [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/09/CBDT-Introduces-Form-10-IFA-for-Co-operative-Societies-Form-10-IFA-CBDT-Introduces-Form-10-IFA-Tax-Regime-Income-Tax-Act-21AHA-taxscan.jpg "CBDT Introduces Form 10-IFA for Co-operative Societies Choosing Tax Regime under Section 115BAE of Income Tax Act, inserts new Rule 21AHA [Read Notification]")
![Income Tax illegally levied must be Refunded: Bombay High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-illegally-refunded-Income-Tax-Bombay-High-Court-taxscan.jpg "Income Tax illegally levied must be Refunded: Bombay High Court [Read Order]")