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No Permanent Establishment under Article 5(2)(g) of India Cyprus Treaty when threshold period of twelve months not exceeded, Income Taxable: Delhi HC

The Delhi High Court held that No Permanent Establishment (PE) under Article 5(2)(g) of India Cyprus Treaty when threshold period of twelve months...

Income Tax Dept conducts Search in Karnataka, Unearths Unaccounted Income of Rs. 1300 crore

No application of Sec 43CA on absence of element of Transfer: ITAT deletes Income Addition [Read...

Overwhelming Genuine Business Transactions cannot be Disallowed under section 40(3) Income Tax: ITAT...

Allowing Income Tax Claim without Examination amount to ‘Erroneous Assessment’: ITAT upholds...

Income Tax Clarifies Time limit for Verification of Returns filed Within and After Due Date

The income tax portal for e-filing has stated that the Income Tax Returns s filed on or before 31st July 2022 need to be verified within 120 days. An advisory issued on the portal further...

Income Tax Addition u/s 68 not permissible When Assessee furnished all evidences proving identity and creditworthiness of the Investors: ITAT upholds order of CIT(A)

Income Tax Addition u/s 68 of the Income Tax Act,1961 is not permissible when the assessee furnished all evidence proving the identity and creditworthiness of the investors, the Kolkata Bench of the...

Reliance on bald statement and dumb document extracted from Laptop: ITAT deletes Income Tax Addition [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench deleted income tax disallowance as reliance was made by Assessing Officer (AO) on bald statement and dumb document extracted from laptop. The...

Self-Certified Copy of Documents seeking Registration of Charitable Trust under Income Tax is sufficient for Cerification under amended Rule 17A: ITAT [Read Order]

The Jaipur Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that Self-certified copy of documents seeking registration of charitable trust under Section 12 AA of the Income Tax Act,1961...

Income Tax: Pre-Consultation Notice u/s 148A(b) cannot be Challenged through Writ Petition, rules Madhya Pradesh HC [Read Order]

In a significant ruling, the Madhya Pradesh High Court, while dismissing a writ petition, has held that the notice under section 148A(b) of the Income Tax Act, 1961 cannot be challenged through a...

Intimationand Demand u/s 143(1) Not Reflected on Income Tax Portal, No Consequent Grievances: ITAT [Read Order]

The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) has held that since the intimation under section 143(1) of the Income Tax Act, 1961 is not reflected in the tax portal, there cannot be...

Proper filing of Form 10 manually with Income Tax Return: ITAT grants exemption u/s 11 of Income Tax Act [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Pune Bench granted exemption under Section 11 of the Income Tax Act, 1961 on the ground of proper filing of Form 10 manually with Income Tax Return. The...

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