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"NFAC Passed Perverse Order Stating Wrong Penalty Amount & Ignoring S.273B Safeguards": ITAT Deletes Penalty u/s 271(1)(b)

Saagarika Gopinath

The Raipur Bench of the Income Tax Appellate Tribunal (ITAT) has set aside a penalty of Rs. 10,000 imposed under Section 271(1)(b) of the Income Tax ...

ITAT directs De Novo Proceedings due to lack of Evidence to substantiate Deffered Revenue in P & L...

Assessee Denied Chance to Present Case on TDS Credit for Client Funds, ITAT Rules for Fresh Hearing...

Taxability of Employee Leave Encashment from Govt and Non-Govt Depts must be Examined Separately:...

ITAT Orders Recalculation of Presumptive Income u/s 44 After Spotting Turnover Discrepancy [Read...

Max Estates’ Subsidiary Receives ₹21.13 Lakh Income Tax Demand Order from NFAC

Max Estates Limited has reported that its subsidiary, Max Square Limited, has received an income tax demand order of Rs. 21.13 lakh from the National Faceless Appeal Centre (NFAC), part of the...

Non Compliance to Income Tax Notices Due to working in Saudi Arabia: ITAT Remands Rs.1.90 Cr Matter for Fresh Adjudication [Read Order]

The Lucknow Bench of the Income Tax Appellate Tribunal (ITAT) has remanded a case involving an addition of Rs. 1,90,90,465 back to the Assessing Officer (AO) for fresh adjudication, citing the...

Non-Payment of Advance Tax Makes S.249(4)(b) of Income Tax Act Inapplicable: ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal(ITAT) ruled that non-payment of advance tax makes Section 249(4)(b) of the Income Tax Act,1961 inapplicable. Sangeet...

Penalty for Late Filing of Tax Return: ITAT quashes Order as Time-Barred [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal quashed a ₹54,700 penalty imposed under Section 272A(2)(e) of Income Tax Act,1961 for the late filing of a tax return, ruling it time-barred. ...

Failure to Consider Assessee's Delay Condonation Request u/s 249(3): ITAT Remands Case to CIT(A) [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal set aside the order of the Commissioner of Income Tax(Appeals) CIT(A), National Faceless Appeal Centre (NFAC) after it erroneously dismissed the...

ITAT Directs Deletion of Rs 28.57 Lakh Addition, Says AO Failed to Follow Due Process [Read Order]

In a significant ruling, the Income Tax Appellate Tribunal ( ITAT ) Pune Bench has set aside an addition of Rs. 28.57 lakhs made under Section 143(1) of the Income Tax Act, 1961. The tribunal held...

Taxpayer Must Disclose Cash-in-Hand, Bank Balances, and Receivables Even Under Presumptive Taxation Scheme: ITAT [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) ruled that a taxpayer must disclose cash-in-hand, bank balances, and receivables even under the Presumptive Taxation Scheme, rejecting the...

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