Read all Latest Updates on and about section 143(1) of the Income Tax Act

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Payment within Due Date cannot be disallowed as delay due to Technical Glitches on EPFO Portal: ITAT [Read Order]

Franklin Joshva

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the Assessing Officer (AO) erred in making an addition on account of the...

Assessee Entitled to TDS Credit on Salary Income Even if Not Fully Reflected in Form 26AS: ITAT...

Extraordinary Delay of 2590 Days without Sufficient Cause Cannot Be Condoned: ITAT Dismisses Appeal...

ITAT Decision to uphold Higher 22% LTCG u/s 115BAA on Domestic Company raises Eyebrows [Read Order]

ITAT Holds Bona Fide Belief and Lack of Technical Knowledge Constitute Sufficient Cause, Condones...

Leave Encashment Exemption u/s 10(10AA): ITAT Applies Retrospective ₹25 Lakh Limit Notified by CBDT [Read Order]

The Jaipur Bench of Income Tax Appellate Tribunal ( ITAT ) allowed an appeal filed by a retired State Bank of India employee, holding that the revised ₹25 lakh exemption limit for leave...

“Reason to Believe” Must Rest on Correct Facts: ITAT invalidates Reopening Based on Wrong Assumptions [Read Order]

The Bench of the Income Tax Appellate Tribunal (ITAT), Chandigarh, held that a reassessment initiated on the basis of incorrect facts and without application of mind is invalid in law. The Tribunal...

Net Taxable Interest Higher Than Expense Bars Disallowance u/s. 14A: ITAT [Read Order]

The bench of the Income Tax Appellate Tribunal, Mumbai, has ruled that no disallowance under Section 14A of the Income Tax Act, 1961 can be made when net taxable interest income exceeds the interest...

Settled Issues against Income Tax Assessment Order passed u/s 143 not Challengable: Delhi HC dismisses appeal against Maruti Suzuki [Read Order]

The Delhi High Court dismissed the revenue’s appeal in the Maruti Suzuki case regarding the Income Tax Assessment Order passed under Section 143 of the Income Tax Act, 1961. It was observed that the...

Short Grant of Income Tax TDS Credit on Property Sale: ITAT Orders Refund of ₹37.88 Lakh Within One Month [Read Order]

The Chandigarh Bench of Income Tax Appellate Tribunal ( ITAT ) ordered a refund of ₹37.88 lakh within one month, holding that there was a short grant of Tax Deducted at Source (TDS) credit on a ...

Supreme Court dismisses Condonation and SLP against Bombay HC Order regarding Aggregation of Royalty for Technology used [Read Order]

The Supreme Court dismissed the Special Leave Petition (SLP) against the Bombay High Court (HC) order regarding the aggregation of royalty for technology used. The SLP arose out of the the final...

Wrong Reporting of PF/ESI Deposit Dates by Tax Auditor Causes Excess Disallowance: ITAT Directs AO to Verify and Restrict Only to Late Payments [Read Order]

The Chandigarh Bench of the Income Tax Appellate Tribunal ( ITAT ), in a matter of wrong reporting of PF/ESI employees’ contribution deposit dates by the tax auditor had resulted in a higher...