Category: Income Tax
CCIT order rejecting application for compounding of offence u/s 276CCC quashed by Supreme Court being covered by the expression “first offence”. In a recent judgment, the Hon’ble Supreme Court quashed the order of the CCIT in rejecting the application for compounding of offence u/s 276CCC for belated filing …
Case remitted for verification of wrong figure on account of adjustment for ICDS as reported by Tax Auditor. In a recent judgment, the ITAT Chennai remitted the matter for verification where CPC made adjustment u/s 143(1) of the Income Tax Act, 1961 (the Act) due to wrong figure …
HC condoned delay in uploading audit report Form 10B by 1 hour, 19 minutes and 16 seconds due to technical glitch In a recent judgment, the Orrisa High Court condoned the delay in uploading audit report in Form 10B by 1 hour, 19 minutes and 16 seconds due …
Specific notice required if CIT(Exemption) intends to travel beyond three years expenditure as prescribed in Rule 11AA(g) – ITAT In a recent judgment, the ITAT Surat held that if CIT(Exemption) intends to travel beyond three years expenditure as prescribed in Rule 11AA(g), he should have issued specific show …
Reassessment order travelling beyond Show Cause Notice quashed by High Court as assessee was not put on notice of the intended provision In a recent judgment, the Hon’ble Madras High Court has quashed reassessment order passed u/s 147 of the Income Tax Act, 1961 (the Act) holding that …
Penalty u/s 271D deleted due to ‘reasonable cause’ as assessee belonged to Schedule Tribe and income earned by him was exempt u/s 10(26) of the Act. In a recent judgment, the ITAT Guwahati deleted penalty u/s 271D for violation of section 269SS observing that there was a ‘reasonable …
Application invited for empanelment of advocates in Income Tax Department Gujarat Income Tax Department Gujarat has invited applications from practicing advocates to represent the Income tax department, Gujarat before the Courts of Sessions and its Subordinate Courts in Prosecution cases. Applications have been invited from practicing advocates, having …
Mere affidavits of family members not enough claim benefit of CBDT Instruction No. 1916 dated 11.05.1994 in respect of jewellery belonging to family members. In a recent judgment, the ITAT Delhi has held that by simply filing affidavits of the family members to contend that jewellery belonged them …
Penalty u/s 271D not automatic. AO is required to find out that even if there was any failure, the same was without a reasonable cause. In a recent judgment, the Bangalore ITAT has deleted penalty u/s 271D for violation of provisions of section 269SS observing that Levy of …
Opinion rendered by audit party alone can not be considered as belief of escapement of income which must be made directly and solely by the Income Tax Officer. In a recent judgment, the Hon’ble Supreme Court dismissed SLP of the Revenue against the judgment of the Bombay High …