Income Tax

  • Income Tax

Penalty notice issued after completion of assessment proceedings illegal – ITAT

Penalty notice issued after completion of assessment proceedings illegal. Where no proceedings relevant to assessment year are pending penalty notice…

7 years ago
  • Income Tax

Recording AO satisfaction must for exempt income disallowance u/s 14A(2) and Rule 8(D) – High Court

Recording AO satisfaction must for exempt income disallowance u/s 14A(2) and Rule 8(D) of the Income Tax Rules, 1962. High…

7 years ago
  • Income Tax

Penalty u/s 271(1)(c) invalid for assessment made in search cases u/s 158BC of the Income Tax Act – ITAT

Penalty u/s 271(1)(c) invalid for assessment made in search cases u/s 158BC of the Income Tax Act. Penalty proceedings initiated…

7 years ago
  • Income Tax

Delay in submission of form 15G 15H to CIT do not make bank as assessee in default

Delay in submission of form 15G 15H not make bank assessee in default for non deduction of tax at source.…

7 years ago
  • Income Tax

Exemption us 10(23)(C)(vi)-Applying provisions of the Right of Education Act not necessary

Exemption us 10(23)(C)(vi)- By not applying provisions of the Right of Education Act, it cannot be said that the assessee…

7 years ago
  • Income Tax

Revision u/s 263 Limitation where assessment completed u/s 143(1) was reopened u/s 147

Revision u/s 263 Limitation where assessment completed u/s 143(1) was reopened u/s 147. Jurisdiction u/s 263 could not be exercised…

7 years ago
  • Income Tax

Amendment to MAT Audit Report Form No 29B to reflect Ind AS related adjustments

Amendment to MAT Audit Report Form No 29B for Ind AS related adjustments  where financial statements of company are drawn…

7 years ago
  • Income Tax

Exemption u/s 54B-Use of land for agricultural purposes for full two years not necessary.

Exemption u/s 54B-Use of land for agricultural purposes for full two years not necessary. Even if only Kharif crop was…

7 years ago
  • Income Tax

CPC-advisory for 26AS Tax Credits for TDS on Sale of Immovable Property u/s 194IA

CPC-advisory for 26AS Tax Credits for TDS on Sale of Immovable Property u/s 194IA (26QB Statement)-Avail Benefit of CPC(TDS) Analytics…

7 years ago
  • Income Tax

Second Time Correction in 26QB Form is now available for Taxpayers on TRACES

Second Time Correction on critical fields in 26QB Form is now available for Taxpayers on TRACES with respect to tax…

7 years ago