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

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Income Tax Deduction cannot be denied due to wrong classification in ITR: ITAT [Read Order]

Yogitha S. Yogesh

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that deduction under the Income Tax Act cannot be denied due to wrong...

Legitimacy of Income Not Established when Investment made from Share Premium Without Noticeable...

No Additions Proposed in Income Tax Assessment Order: Madras HC quashes Demand in Computation...

ITAT Directs AO to Scrutinize Purchase of Shares After Assessee Fails to Produce Documents [Read...

Failure to File Audit Report in Form 10CCB before ITR filing due date: ITAT disallows Deduction...

Appending phrase 'Yes' by PCIT is not valid approval u/s 151 of Income Tax Act: Delhi HC [Read Order]

In a significant ruling the Delhi High Court observed that appending phrase 'Yes' by the Principal Commissioner of Income Tax ( PCIT ) is not valid approval under Section 151 of the Income Tax Act,...

Annual Letting Value of Unsold Flats cannot be added under section 22 of Income Tax Act: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the annual letting value of unsold flats cannot be added under section 22 of Income Tax Act, 1961. The Tribunal directed...

Delay in payment of employees’ contribution of ESI & PF to Government: ITAT upholds Disallowance [Read Order]

The Income Tax Appellate Tribunal (ITAT) Bangalore bench observed that the assessee was delayed in the payment of employees' contribution to ESI and Provident Fund. Consequently, the bench upheld the...

Co-operative society receives/earns Interest on deposits with Co-operative bank is eligible for claim of Deduction u/s 80(2)(d): ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the co-operative society receives/earns the interest on deposits with the co-operative bank is eligible for claim of deduction...

Employee’s contribution to PF & ESIC shall not be allowed deduction when Deposited belatedly after Due date and before filling ITR: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the employee’s contribution to Provident Fund (PF) and Employee State Insurance Corporation (ESIC) shall not be allowed...

Files Return of Income Belatedly without filing Form No.10B to claim deduction u/s 11 or 12 of Income Tax Act: ITAT directs Re-adjudication in respect of Condonation Petition [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai bench directed readjudication in respect of condonation petition filed for belatedly filed return of income without filing Form No.10B to caim...

ITAT Quashes Assessment order framed in the name of deceased assessee [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has quashed the assessment order framed in the name of deceased assessee. The assessee, c was an individual and for the year under...

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