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

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Employee Cannot Be Denied TDS Credit Due to Kingfisher Airlines’ Default in Depositing Tax: Delhi HC [Read Order]

In a recent ruling, the Delhi High Court held that an employee cannot be denied TDS credit only because Kingfisher Airlines failed to deposit...

Double Disallowance Not Permissible: Delhi HC Directs Rectification of ₹1.37 Cr Demand on Portronics...

Reopening Assessment Twice on Same Issue Unconstitutional, Hits Articles 14 & 300A: Delhi HC in NDTv...

Reversal of Interest u/s 23 of MSMED Act Cannot Attract Addition In Absence of Deduction Claim: ITAT...

Determining Nature of Expenditure is Beyond CPC's Jurisdiction: ITAT upholds Deletion of Bad Debts...

Subsidy from Govt Rehabilitation Scheme Milk Producers’ Co-operative is Capital Receipt, Not Taxable as Revenue Receipt: Madras HC [Read Order]

The Madras High Court has directed the income tax department to treat the subsidy/grant-in-aid of Rs. 3.5 crores received from the government rehabilitation scheme for the Milk producers’...

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

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 delayed deposit of the employee's contribution to the...

Assessee Entitled to TDS Credit on Salary Income Even if Not Fully Reflected in Form 26AS: ITAT allows Claim based on Form 16 [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT) Bench at Mumbai, directed the Assessing Officer (AO) to grant full Tax Deducted at Source (TDS) credit of ₹14,78,140 to the assessee, for...

Extraordinary Delay of 2590 Days without Sufficient Cause Cannot Be Condoned: ITAT Dismisses Appeal Filed by Private Company [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the appeal for the Assessment Year (AY) 2012-13, holding that the delay of 2590 days in filing the appeal could not be condoned...

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

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the 22% tax rate on Long-Term Capital Gains (LTCG) for domestic companies that have opted for the concessional tax regime...

ITAT Holds Bona Fide Belief and Lack of Technical Knowledge Constitute Sufficient Cause, Condones 972-Day Delay by 71-Year-Old Assessee [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has condoned a delay of 972 days in filing an appeal by Mr. Kirtikumar Champaklal Bhimani, a 71-year-old individual taxpayer and held...

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...