Income Tax Refund Scam: RS 40 crore busted in Hyderabad, 8 Tax Consultants under scanner
The income tax department on wednesday has exhumed Rs 40 crore tax refund scanner. The scanner was found in the investigation conducted by the I-T...
![Amount given for Admission is not Donation to Charitable Trust: ITAT Confirms Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Amount-given-for-Admission-is-not-Donation-to-Charitable-Trust-ITAT-Confirms-Income-Tax-Addition-TAXSCAN.jpg "Amount given for Admission is not Donation to Charitable Trust: ITAT Confirms Income Tax Addition [Read Order]")
![Discharge of Onus u/s 68 of Income Tax Act by Furnishing Identity and Creditworthiness of Parties: ITAT Deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Discharge-of-Onus-Income-Tax-Act-Income-Tax-Furnishing-Identity-and-Creditworthiness-of-Parties-Furnishing-Identity-Creditworthiness-ITAT-Income-Tax-Addition-taxscan.jpg "Discharge of Onus u/s 68 of Income Tax Act by Furnishing Identity and Creditworthiness of Parties: ITAT Deletes Income Tax Addition [Read Order]")
![Waiver of Principal Amount for Trading Purpose is Income of Assessee: ITAT Imposes Income Tax on Principal Amount [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Waiver-of-Principal-Amount-for-Trading-Purpose-is-Income-of-Assessee-ITAT-Imposes-Income-Tax-on-Principal-Amount-ITAT-Income-Tax-on-Principal-Amount-Income-Tax-Income-of-Assessee-Taxscan.jpg "Waiver of Principal Amount for Trading Purpose is Income of Assessee: ITAT Imposes Income Tax on Principal Amount [Read Order]")
Pan-Aadhar Link Update: Income Tax to consider cases where Fee payment and consent for linking received but Linking not done till 30th June
The Income Tax Department mandated the PAN-Aadhar linking with a fine of Rs 1,000by June 30th 2023. However, the same penalty is not applicable to the PAN holders who took the PAN cards on or after...
Amount Received as Reimbursement of Service Tax not Includible in Gross Turnover for Purpose of Computing Taxable Income u/s 44BB of Income Tax Act: ITAT [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT), ruled that the amount received as reimbursement of service tax not includible in gross turnover for purpose of computing taxable...
![Amount Received as Reimbursement of Service Tax not Includible in Gross Turnover for Purpose of Computing Taxable Income u/s 44BB of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Amount-Received-Reimbursement-Service-Tax-Reimbursement-of-Service-Tax-Gross-Turnover-Computing-Taxable-Income-Taxable-Income-Taxable-Income-Tax-Act-taxscan.jpg "Amount Received as Reimbursement of Service Tax not Includible in Gross Turnover for Purpose of Computing Taxable Income u/s 44BB of Income Tax Act: ITAT [Read Order]")
Allegations of Undisclosed Income did not form Part of Notice: Delhi HC sets aside Income Tax Notice [Read Order]
The Delhi High Court set aside income tax notice as allegations of undisclosed income did not form the part of income tax notice. The petitioner in the present matter is Dhiru Real Estates Private...
![Allegations of Undisclosed Income did not form Part of Notice: Delhi HC sets aside Income Tax Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Allegations-of-Undisclosed-Income-form-Part-of-Notice-Delhi-HC-sets-aside-Income-Tax-Notice-TAXSCAN.jpg "Allegations of Undisclosed Income did not form Part of Notice: Delhi HC sets aside Income Tax Notice [Read Order]")
Calcutta HC Sets Aside Order Passed u/s 148 A(d) of Income Tax Act Without Providing Opportunity for Personal hearing to Assessee [Read Order]
The Calcutta High Court sets aside order passed under Section 148 of Income Tax Act, 1961 without providing opportunity for personal hearing to the assessee, Winsome Highrise Pvt. Ltd. & Anr. ...
![Calcutta HC Sets Aside Order Passed u/s 148 A(d) of Income Tax Act Without Providing Opportunity for Personal hearing to Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Calcutta-High-Court-Calcutta-HC-Sets-Aside-Order-Income-Tax-Act-Income-Tax-Personal-hearing-Opportunity-for-Personal-hearing-hearing-taxscan.jpg "Calcutta HC Sets Aside Order Passed u/s 148 A(d) of Income Tax Act Without Providing Opportunity for Personal hearing to Assessee [Read Order]")
Failure to File TDS/TCS Prior to Amendment of S. 200A of Income Tax Act shall not subject to Late Fee: ITAT [Read Order]
The Cochin Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the imposition of late fees under section 234E of the Income Tax Act of 1961 should not apply to cases where the filing of...
![Failure to File TDS/TCS Prior to Amendment of S. 200A of Income Tax Act shall not subject to Late Fee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/File-TDS-TDS-TCS-Amendment-of-S-200A-of-Income-Tax-Act-Amendment-Income-Tax-Act-Income-Tax-Late-Fee-ITAT-Tax-Taxscan.jpg "Failure to File TDS/TCS Prior to Amendment of S. 200A of Income Tax Act shall not subject to Late Fee: ITAT [Read Order]")
Onus to Prove Genuineness of Transaction of Sale of Share not being Bogus not Discharged by Mere Filing of Documentary Evidence: ITAT Confirms Income Tax Addition [Read Order]
The Ahemdabad bench of Income Tax Appellate Tribunal (ITAT) held that the onus on the assessee of proving the genuineness of long term capital gains not being bogus is not discharged by merely filing...
![Onus to Prove Genuineness of Transaction of Sale of Share not being Bogus not Discharged by Mere Filing of Documentary Evidence: ITAT Confirms Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Onus-Prove-Genuiness-Transaction-Sale-Share-Bogus-Documentary-Evidence-ITAT-Income-tax-taxscan.jpg "Onus to Prove Genuineness of Transaction of Sale of Share not being Bogus not Discharged by Mere Filing of Documentary Evidence: ITAT Confirms Income Tax Addition [Read Order]")