![Non-filing of Form 10B within Due Date and During Processing of ITR: ITAT Disallows Claim u/s 11 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Form-10B-Due-Date-ITR-ITAT-Claim-Income-Tax-Act-Income-Tax-Tax-taxscan.jpg "Non-filing of Form 10B within Due Date and During Processing of ITR: ITAT Disallows Claim u/s 11 of Income Tax Act [Read Order]")
Non-filing of Form 10B within Due Date and During Processing of ITR: ITAT Disallows Claim u/s 11 of Income Tax Act [Read Order]
The Pune Income Tax Appellate Tribunal ( ITAT ) denied the claim for exemption of income under section 11 of Income Tax Act on the ground that the...
![Checking, Cross-checking and Reconciliation of Data was A Very Lengthy Process and a Valid “Reasonable Cause” for Non-filing of ITR, No Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Checking-Cross-checking-Reconciliation-Reasonable-Cause-ITR-Penalty-ITAT-TAXSCAN.jpg "Checking, Cross-checking and Reconciliation of Data was A Very Lengthy Process and a Valid “Reasonable Cause” for Non-filing of ITR, No Penalty: ITAT [Read Order]")
![Filing of Income Tax Return of Company being Director but failure to file individual ITR: Mumbai Sessions Court confirms conviction u/s 276CC of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Income-Tax-Return-ITR-Mumbai-Sessions-Court-Income-Tax-Act-TAXSCAN.jpg "Filing of Income Tax Return of Company being Director but failure to file individual ITR: Mumbai Sessions Court confirms conviction u/s 276CC of Income Tax Act [Read Order]")
![Mere Claim of Interest of Housing Loan in ITR by Son of Assessee Would Not Absolve Capital Gain Tax Liability: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Claim-Interest-of-Housing-Loan-Housing-Loan-Loan-ITR-Capital-Gain-Tax-Liability-Tax-Income-tax-taxscan.jpg "Mere Claim of Interest of Housing Loan in ITR by Son of Assessee Would Not Absolve Capital Gain Tax Liability: ITAT [Read Order]")
SC dismisses Petition Seeking ITR Mandatory for Car Purchase and Levy of Cess on Second Car [Read Order]
The Supreme Court of India has recently dismissed a petition seeking mandating Income Tax Returns (ITRs) for purchase of cars for personal use and introduction of cess levy on purchase of a second...
![SC dismisses Petition Seeking ITR Mandatory for Car Purchase and Levy of Cess on Second Car [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/SC-ITR-Mandatory-Car-Purchase-Second-Car-TAXSCAN.jpg "SC dismisses Petition Seeking ITR Mandatory for Car Purchase and Levy of Cess on Second Car [Read Order]")
No Interest Leviable on Joint Venture Company for filing ITR and Form 3CEB on Last Date of Return filing: ITAT [Read Order]
The Income Tax appellate tribunal in a case recently held that no interest was levied on joint Venture companies for filing Income Tax Return and Form 3CEB on the last date of return filing. ...
![No Interest Leviable on Joint Venture Company for filing ITR and Form 3CEB on Last Date of Return filing: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/No-Interest-ITR-Form-3CEB-Return-ITAT-TAXSCAN.jpg "No Interest Leviable on Joint Venture Company for filing ITR and Form 3CEB on Last Date of Return filing: ITAT [Read Order]")
Assessee shall file Rectification Application to Rectify Typographical Errors in ITR, Not Appeal: ITAT [Read Order]
The Income Tax Appellate Tribunal Recently held that assessee should file a rectification application to rectify typographical errors in Income Tax Return hence the assessee could not prefer appeal...
![Assessee shall file Rectification Application to Rectify Typographical Errors in ITR, Not Appeal: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Rectification-Application-to-Rectify-Typographical-Errors-ITR-ITAT-TAXSCAN.jpg "Assessee shall file Rectification Application to Rectify Typographical Errors in ITR, Not Appeal: ITAT [Read Order]")
Persons Other than Searched Person liable to Pay Interest on Late filing of ITR u/s 158BC Even Without Notice: Supreme Court [Read Judgment]
In a significant ruling, a two-judge bench of the Supreme Court has held that the persons other than the searched persons shall be liable to pay interest for late filing of income tax return under...
![Persons Other than Searched Person liable to Pay Interest on Late filing of ITR u/s 158BC Even Without Notice: Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2023/01/Interest-on-Late-filing-of-ITR-Late-filing-of-ITR-Interest-Notice-Supreme-Court-taxscan.jpg "Persons Other than Searched Person liable to Pay Interest on Late filing of ITR u/s 158BC Even Without Notice: Supreme Court [Read Judgment]")
Setback to Oriental Insurance Company: Calcutta HC upholds MACT Compensation Assessment after Statutory Deduction of ITR [Read Order]
In a major setback to the Oriental Insurance Company Limited, the appellant, a Single Bench of the Calcutta High Court upheld Motor Accidents Claims Tribunal (MACT) compensation assessment after...
![Setback to Oriental Insurance Company: Calcutta HC upholds MACT Compensation Assessment after Statutory Deduction of ITR [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Oriental-Insurance-Company-Calcutta-HC-MACT-ITR-TAXSCAN.jpg "Setback to Oriental Insurance Company: Calcutta HC upholds MACT Compensation Assessment after Statutory Deduction of ITR [Read Order]")
No Evidence to Prove Bogus Purchase, Addition on Account of Estimated Gross Profit not permissible: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that addition on account of estimated gross profit is not permissible in the absence of evidence to prove a bogus purchase. ...
![No Evidence to Prove Bogus Purchase, Addition on Account of Estimated Gross Profit not permissible: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Evidence-bogus-purchase-Estimated-Gross-Profit-Gross-Profit-ITAT-taxscan.jpg "No Evidence to Prove Bogus Purchase, Addition on Account of Estimated Gross Profit not permissible: ITAT [Read Order]")
