Tag:
Income Tax
Direct Tax
Income Tax Dept. Doesn’t Trust Even Its Lawyers: Supreme Court
The Supreme Court has pulled up the Income Tax Department for its “unnecessarily long and avoidable” internal procedures while condoning a 524-day delay in...
Direct Tax
Income Tax Dept Failed To Give Effect To ITAT’s Order: Delhi HC Directs Rs. 36.85 Lakh Refund with 3% Interest
The Delhi High Court has ordered the Income Tax Department to refund Rs. 36,85,243 to the assessee, along with statutory interest under Section 244(1A)...
Notification
Income Tax Dept. launches major verification drive against fake HRA claims
The Income Tax Department has launched a focused verification drive targeting false House Rent Allowance (HRA) claims, using analytics and data-matching tools to pick...
Direct Tax
Income Tax Dept. Launches Crackdown on Non-Compliance in Reporting High Value Transactions
The Income Tax Department has initiated a nationwide enforcement drive to identify and penalise reporting entities that have failed to comply with statutory obligations...
Direct Tax
No Income Tax Payable On Compensation Paid By NHAI Against Land Acquisition: Chhattisgarh High Court
The Chhattisgarh High Court has held that no income tax payable on compensation paid by National Highway Authority of India (NHAI) against land acquisition.The...
Direct Tax
Supreme Court Dismisses Income Tax Dept’s Plea Over 248-Day Delay
The Supreme Court of India has dismissed a Special Leave Petition (SLP) filed by the Income Tax Department challenging a Bombay High Court ruling,...
Direct Tax
Rs. 2 Lakh Cost Imposed On Income Tax Dept. For Lodging Tax Evasion Prosecution Without ITAT Confirmation: Supreme Court
The Supreme Court has imposed the cost of Rs. 2 Lakhs on the income tax department for initiating prosecution for tax evasion without ITAT...
Direct Tax
Wedding Gifts Under Income Tax Act Can’t Be Treated As Unexplained Income: ITAT
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has set aside the tax department’s addition of unexplained income against a taxpayer, Manubhai,...