Income Tax

  • Income Tax

Water logged land comprised within backwaters held agricultural land when sold along with adjacent agricultural land

Water logged land comprised within backwaters held agricultural land. The land was a kayal land and sold along with adjacent…

6 years ago
  • Income Tax

Applicability of Benami Property Act to cash seized-High Court declines to interfere with show cause notice

Applicability of Benami Property Act to Cash seized-High Court declines to interfere with show cause notice as source and nature were…

6 years ago
  • Income Tax

High Court refuses to quash prosecution u/s 276CC on the ground that non filing ITR was not wilful

High Court refuses to quash prosecution u/s 276CC for not filing return of income. Whether the failure was wilful or…

6 years ago
  • Income Tax

ITAT’s jurisdiction is not to rewrite the AO’s order and improve upon it. High Court uphelds Revision order u/s 263

ITAT’s jurisdiction is not to rewrite the AO’s order and improve upon it. High Court uphelds Revision order passed u/s…

6 years ago
  • Income Tax

Section 50C not applicable to sale of property through Power of Attorney – ITAT

Section 50C not applicable to sale of property through Power of Attorney. Provisions at best could be invoked only in…

6 years ago
  • Income Tax

Denial of Section 54F exemption for quoting wrong section without examining merits-ITAT remands case to AO

Denial of Section 54F exemption for quoting wrong section without examining merits of deduction claimed-ITAT remands the case to Assessing…

6 years ago
  • Income Tax

Non-mentioning precise section for making addition for bogus purchase made it bad in law – ITAT

Non-mentioning the precise section for making addition for bogus purchase made the impugned addition bad in law – ITAT deletes…

6 years ago
  • Income Tax

12 Mistakes/Practices that would invite TDS-TCS Survey by Income Tax Department

12 Mistakes/Practices that would invite TDS/TCS Survey by Income Tax Department. Follow best practices to ensure proper compliance of TDS…

6 years ago
  • Income Tax

CBDT issues Income Tax Central Action Plan 2018-19. 1250000 new return filers to be added

CBDT issues Income Tax Central Action Plan 2018-19. 1250000 new return filers to be added The CBDT has issued the…

6 years ago
  • Income Tax

Revision u/s 263 upheld as AO had not formed any opinion but erroneously allowed expenses – HC

Revision u/s 263 upheld as AO had not formed any opinion but erroneously allowed the capital expenses as revenue causing…

6 years ago