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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...

Persons Other than Searched Person liable to Pay Interest on Late filing of ITR u/s 158BC Even...

Setback to Oriental Insurance Company: Calcutta HC upholds MACT Compensation Assessment after...

No Evidence to Prove Bogus Purchase, Addition on Account of Estimated Gross Profit not permissible:...

Last Chance to file Income Tax Return will Expire on 31st December: Know the Consequences

Addition u/s 68 based on Cash Deposit not allowable in the Absence of Corroborative Evidence: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal(ITAT) has held that addition under section 68 of the Income Tax Act,1961 based on Cash deposit is not allowable in the absence of the...

Delhi HC sets aside Rejection of Scholarship for Filing ITR instead of Income Certificate [Read Order]

A Single Bench of the Delhi High Court has recently quashed the rejection of the Petitioner, Bajrang’s application to avail of the Central Sector Scholarship Scheme of Top Class Education for SC...

Income Tax Non-filers, File You ITR before 30th December to Avoid These Consequences

After submitting his/her Income Tax Return (ITR) online earlier, a taxpayer used to get 120 days’ time to verify the return and complete the process of the filing of return of income. However, the...

Regular Income Tax Filers get Intimation from Dept for Non-filing: Know Why?

The regular taxpayers filing their Income Tax Return are now getting intimation from the Income Tax Department in case the process of filing returns of income is not completed yet. Moreover, the...

Gross Income can be determined on the basis of ITR: Calcutta HC revises Insurance Compensation in Accident Case [Read Order]

The Calcutta High Court Bench of Justice Bibhas Ranjan De has recently held that, Income Tax Returns are admissible for determination of income of Motor Accident Claim cases. Claimant disclosed...

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...

Violation of 269SS of Income Tax Act is a Separate Offence, Proceedings for Cheque Dishonour u/s 138 NI Act cannot be Disturbed: Delhi Court [Read Order]

The Delhi Metropolitan Magistrate (Negotiable Instruments) Court of Magistrate Divya Arora has recently held that the violation of Section 269SS of the Income Tax Act, 1961 does not disturb the...

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