Budget 2022: Income Tax Proceedings shall be valid even after Completion of Business Reorganization Process, Entities shall file Modified Returns
The Finance Bill, 2022 has incorporated some new provisions in order to regulate the assessment proceedings and the procedure of taxation in case of...
![Education Cess allowable as Income Tax Deduction: ITAT grants Relief to LG Soft India [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Education-Cess-Deduction-ITAT-Relief-LG-Soft-India-Private-Limited-taxscan.jpeg "Education Cess allowable as Income Tax Deduction: ITAT grants Relief to LG Soft India [Read Order]")
![Revisionary Power of PCIT can’t be invoked as AO had scrupulously discharged the duty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/12/Revisionary-Power-ITAT-ITAT-Amritsar-Taxscan.jpg "Revisionary Power of PCIT can’t be invoked as AO had scrupulously discharged the duty: ITAT [Read Order]")
Relief to PC Jewellers: ITAT grants Deduction on Expense of Education Cess as it does not fall under Capital Expense, Personal Expenditure [Read Order]
In a major relief to PC Jwellers, the Income Tax Appellate Tribunal (ITAT) has granted the Deduction on Expense of Education Cess as it does not fall under capital expense, personal...
![Relief to PC Jewellers: ITAT grants Deduction on Expense of Education Cess as it does not fall under Capital Expense, Personal Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/12/ITAT-PC-Jwellers-Education-Cess-Deduction-Capital-Expense-personal-Expenditure-Taxscan.jpeg "Relief to PC Jewellers: ITAT grants Deduction on Expense of Education Cess as it does not fall under Capital Expense, Personal Expenditure [Read Order]")
Share Transfer without consideration or at a Price lower than FMV chargeable to Income Tax: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) ruled that Share Transfer without consideration or at a price lower than Fair Market Value (FMV) is chargeable to income tax. The assessee,...
![Share Transfer without consideration or at a Price lower than FMV chargeable to Income Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/10/Share-Transfer-FMV-chargeable-Income-Tax-ITAT-Taxscan.jpg "Share Transfer without consideration or at a Price lower than FMV chargeable to Income Tax: ITAT [Read Order]")
Person stayed more than 182 Days in India is ‘Resident’, entire Salary subject to Income Tax: Calcutta High Court [Read Order]
The Calcutta High Court upheld the order treating the assessee as “Resident” for having stayed in India for 182 days, brought the entire salary under global income. The petitioner, Tapas Kumar...
![Person stayed more than 182 Days in India is ‘Resident’, entire Salary subject to Income Tax: Calcutta High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/09/Calcutta-High-Court-Global-Income-Taxscan.jpg "Person stayed more than 182 Days in India is ‘Resident’, entire Salary subject to Income Tax: Calcutta High Court [Read Order]")
CIT can't invoke Revisionary Jurisdiction If conditions prescribed under Sec 263 of Income Tax Act are not fulfilled: Madras High Court [Read Judgment]
The Madras High Court ruled that the Income Tax Appellate Tribunal (ITAT) rightly set aside the order passed under Section 263 of the Income Tax Act on the ground that CIT lacks jurisdiction. The...
![CIT cant invoke Revisionary Jurisdiction If conditions prescribed under Sec 263 of Income Tax Act are not fulfilled: Madras High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/06/Section-263-CIT-Revisionary-Jurisdiction-Sec-263-of-Income-Tax-Act-Madras-High-Court-Taxscan.jpeg "CIT cant invoke Revisionary Jurisdiction If conditions prescribed under Sec 263 of Income Tax Act are not fulfilled: Madras High Court [Read Judgment]")
![Income Tax: CBDT notifies Amended Rules and Forms for TDS [Read Notification]](https://www.taxscan.in/wp-content/uploads/2021/06/Income-Tax-CBDT-Amended-Rules-TDS-Taxscan.jpg "Income Tax: CBDT notifies Amended Rules and Forms for TDS [Read Notification]")
Assessee not liable to pay Income Tax as property belongs to HUF of Assessee and not individual: ITAT [Read Order]
The Income Tax Appellate Tribunal(ITAT), Hyderabad Bench quashed the assessment order as property belongs to the HUF of assessee and not to the assessee individual. The Assessing Officer having...
![Assessee not liable to pay Income Tax as property belongs to HUF of Assessee and not individual: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/Income-Tax-HUF-assessee-ITAT-assessment-order-taxscan.jpg "Assessee not liable to pay Income Tax as property belongs to HUF of Assessee and not individual: ITAT [Read Order]")
CBDT issues Clarification on Limitation Period for filing of Income Tax Appeals before CIT (Appeals) [Read Circular]
The Central Board of Direct Taxes (CBDT) notified the Clarification regarding the limitation time for filing of Income Tax Appeals before the CIT (Appeals). The Board has issued a Circular dated...
![CBDT issues Clarification on Limitation Period for filing of Income Tax Appeals before CIT (Appeals) [Read Circular]](https://www.taxscan.in/wp-content/uploads/2021/05/CBDT-Income-Tax-Income-Tax-Appeals-Limitation-Period-CIT-Taxscan.jpg "CBDT issues Clarification on Limitation Period for filing of Income Tax Appeals before CIT (Appeals) [Read Circular]")