Assessment Can’t Be Reopened Merely On The Basis Of Information By Investigation Wing : ITAT
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has held that assessment cannot be reopened merely on the basis of information by the...
TDS Is Deductible On Salaries Of Nuns And Priests Working In Aided Schools: Supreme Court
The Supreme Court while upholding the decision of Madras High Court has held that under Income Tax Act TDS is deductible on salaries of...
Direct Tax Weekly Flashback: 3 November To 9 November 2024
Direct Tax Weekly Flashback for the period 3 November To 9 November 2024.Punjab and Haryana High Court - Direct Tax Weekly FlashbackFamily Settlement Not...
AO To Spell Out Reasons As To What Was To Be Disclosed Before Initiating Reassessment Under Section 147 : Delhi High Court
The Delhi High Court has held that the (Assessing Officer) AO to spell out reasons as to what was to be disclosed before initiating...
Delhi High Court Quashed Reassessment Notice Beyond 10 Years Block Period
The Delhi High Court has quashed the reassessment notice citing it to be beyond 10 years block period.The bench of Justice Vibhu Bakhru and...
Bombay High Court Condones Delay In Filing ITR By A Doctor On Covid Duty
The Bombay High Court has condoned the delay in filing ITR (Income Tax Return) by a doctor on covid duty.The bench of Justice...
Family Settlement Not Required To Be Registered For Computing Capital Gains: Punjab & Haryana High Court
The Punjab & Haryana High Court has held that family settlement is not required to be registered for computing capital gains.The bench of Justice...
Excise Duty Exemption Is A Capital Receipt, Not Taxable Under Income Tax Act: Jammu & Kashmir And Ladakh High Court
The Jammu & Kashmir And Ladakh High Court has held that excise duty exemption is a capital receipt and not taxable under Income Tax...
Disciplinary Action Against CIT(A) Can’t Be Initiated For Deleting Rs.120.55 Crore Income Tax Addition In Hasty Manner: Gauhati High Court
The Gauhati High Court has held that disciplinary action against CIT (A) could not be initiated for deleting Rs. 120.55 crore income tax addition...
New Monetary Limits For Waiver Of Interest By Income Tax Authority: CBDT
The Central Board of Direct Taxes (CBDT) has notified the new Monetary Limits for reduction or waiver of interest by the income tax authorities.New...
Latest Updates You Need To Know About Income Tax e Filing
Here are some details about the latest updates you need to know about income tax e filing.What is Income Tax e Filing?Who all...
Delhi High Court Upholds JAO’s Authority To Issue Notice Under Faceless Assessment Scheme
The Delhi High Court has upheld that authority of the Jurisdictional Assessing Officer (JAO) to issue notice under faceless assessment scheme.The bench of Justice...
Residence Country Can’t Deny Credit On Taxes Levied By Source Country: Mumbai ITAT Grants DTAA Benefit To Amarchand Mangaldas
The Mumbai Bench of Income Tax Appellate Tribunal (CESTAT) while granting the (Double Taxation Avoidance Treaty) DTAA benefit to Amarchand Mangaldas held that residence...
Income Tax Notice To Specify Penalty Is Against Concealment Of Income Or Furnishing Inaccurate Particulars Of Income: Jammu & Kashmir And Ladakh High Court
The Jammu & Kashmir And Ladakh High Court has held that notice under section 271(1)(c) of Income Tax Act must specify whether penalty is...
Transfer Pricing Entities Operating On Economic Upscale Can’t Be Included As Comparables Of Those Working On Cost Plus Pricing: Delhi High Court
The Delhi High Court has held that Transfer Pricing Entities operating on economic upscale cannot be included as comparables of those working on cost...
Direct Tax Weekly Flashback: 20 To 26 October 2024
Direct Tax Weekly Flashback for the period 20 to 26 October 2024.Bombay High Court - Direct Tax Weekly FlashbackSECTION 12AA REGISTRATION CAN’T BE DEEMED...
BREAKING | CBDT Extends Due Date For Furnishing Return Of Income For Assessment Year 2024-25
The Central Board Of Direct Taxes (CBDT) has extended the due date for furnishing return of income for Assessment Year 2024-25.“The Central Board of...
Gujarat High Court Restraints Income Tax Dept. From Initiating Recovery Proceedings During Pendency Of Appeals Before CIT(A)
The Gujarat High Court has restrained the income tax department from initiating recovery proceedings during pendency of appeals before Commissioner Of Income Tax (Appeals)...
Rental Income From Leasing Of Properties Assessable As Income From Profits And Gains Of Business: Bombay High Court
The Bombay High Court has held that the rental income from leasing of its properties was assessable as income from profits and gains of...
Section 12AA Registration Can’t Be Deemed To Be Granted, If Application Not Disposed Within 6 Months: Bombay High Court
The Bombay High court has held that Section 12AA of the Income Tax Act does not recognize any deeming fiction, that an application for...
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