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AO's Order must be Erroneous and Prejudicial to invoke Section 263: ITAT sets aside Revision Order [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) orders that the assessing officer’s assessment order must be erroneous and...

ITAT allows Deduction u/s 54 of Income Tax Act for Investment made in New Residential Property [Read...

Delay in deciding Stay application against Income Tax Assessment Order: Kerala HC directs NFAC to...

Expedited Hearing - Stay Petition - NFAC - Kerala HC - Relief - Petitioner - Tax Assessment Dispute - taxscan

Expedited Hearing on Stay Petition before NFAC: Kerala HC grants Relief to Petitioner in Tax...

ITAT Directs readjudication of disallowance of Depreciation claimed on Acquisition of Asset [Read...

AO denies to grant Section 54F Deduction to LTCG from Sale of Inherited Jewellery: ITAT allows Deduction [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has allowed the deduction after the Assessing Officer denied granting Section 54F of the Income Tax Act, 1961, deduction for...

Online Income Tax appeal and Stay Petition Concerning Assessment Order A.Y. 2020-21 filed beyond Statutory time limit: Kerala HC dismisses Writ Petition [Read Order]

The Kerala High Court dismissed a writ petition concerning the online income tax appeal and stay petition related to the assessment order for the assessment year 2020-21, which was filed beyond the...

Priority disposal of urgent Income Tax Appeals: CBDT issues Guidelines

In a significant development aimed at expediting the resolution of pending income tax appeals, the Central Board of Direct Taxes ( CBDT ) has issued revised guidelines superseding the aforementioned...

Belated deposit of ESI/EPF: ITAT allows exemption under section 154 of Income Tax Act [Read Order]

Two member bench of ITAT Raipur granted the assessee’s right to file application for exemption under section 154 of Income Tax Act claiming deduction for delayed deposit of employees share of...

Ex Parte Assessment Order passed regarding Bogus Purchases: ITAT directs re adjudication [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore bench, directed readjudication on account of an ex parte assessment order regarding the bogus purchases. After filing the return of income, the...

Failure to Furnish Supporting Evidence against addition under Income Tax Act: Kerala HC upholds addition to Capital Account of Partner [Read Order]

The Kerala High Court upheld the addition to the capital account of the partner's failure to furnish supporting evidence against the addition under the Income Tax Act, 1961. M/S Sunny Silks, the...

Recovery Proceedings on Arrears of Income Tax: Kerala HC directs NFAC to decide Appeal expeditiously [Read Order]

The Kerala High Court directed the National Faceless Appeal Centre (NFAC) to decide appeal expeditiously in the matter of recovery proceedings on arrears of income tax. The petitioner in the...

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