Read all Latest Updates on and about Section 143(2) of the Act

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Cash Deposit of Rs. 8 Lakh from Sale of Casuarina Trees Treated as ‘Income from Other Sources’: ITAT Deletes Addition [Read Order]

Sneha Sukumaran Mullakkal

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) deleted an addition of Rs. 8,00,000 made by the Assessing Officer (AO), which was...

Madras HC - Madras High Court - Reassessment Proceedings - Reassessment Proceedings cannot be Initiated - Assessment - taxscan

Reassessment Proceedings cannot be Initiated without Completing Assessment : Madras HC [Read Order]

Delay in Filing Appeal Before CIT(A) due to ignorance of Legal Procedures and Non-Follow-Up: ITAT...

Explanation Inserted to S. 14A of Income Tax Act vide Finance Act, 2022 Applicable Prospectively:...

ITAT Imposes ₹1000 Fine for Non-Appearance during Assessment Proceedings, Payable to PM Relief Fund...

Madras HC quashes I-T Assessment Order adding Rs. 16Cr Unexplained Expenditure without Providing Reasonable Time, Orders Portal Reopening [Read Order]

The Madras High Court directed the Income Tax department to open the portal for the petitioner. The bench quashed the assessment order adding Rs. 16 crores as unexplained expenditure without...

Madras HC - I-T Assessment Order - Unexplained Expenditure - Reasonable - Orders Portal Reopening - TAXSCAN

Interest Received Loan given from OD not Taxable: ITAT Deletes Addition [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that interest received from a loan given from the overdraft is not taxable hence deleted the additions. The assessee derives...

TDS Refund Claim cannot be withheld Merely because of notice issued u/s 143(2): Delhi HC rules in favour of OYO [Read Order]

In a significant ruling in favour of OYO, the High Court (HC) of Delhi has held that the refund claim of TDS can't be withheld merely because of notice issued under section 143(2)of the Income Tax...

Non-Compliance of Statutory Notices due to Unavoidable Circumstances: ITAT Imposes Cost of Rs. 10,000 on Assessee for Callous and Non-Cooperation Attitude [Read Order]

The Hyderabad bench of Income Tax Appellate Tribunal (ITAT) while observing non-compliance of statutory notices due to unavoidable circumstances imposed cost of Rupees 10,000 on assessee for...

Imported Goods Re-Exported by a Unit Duly Approved by Development Commissioner of the Concerned SEZ, Allowable for Exemption u/s 10AA: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently held that imported goods re-exported by a unit duly approved by the development commissioner of the concerned SEZ, are allowable...

Section 195 has no application once TDS has been made on Salary: Delhi HC upholds order of ITAT [Read Order]

Section 195 of the Income Tax Act has no application once the nature of payment determined as salary and TDS has been made under Section 192, the Delhi High Court upheld the order of ITAT in deleting...

ITAT quashes Scrutiny Assessment order without Proof of Service of Notice u/s 143 (2) [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench presided by Mr. B.R. Baskaran (AM) has quashed the Scrutiny assessment order without proof of service of notice u/s 143 (2). During the...