Category: Income Tax

ITAT allows exemption u/s 11 when audit report in Form 10B was uploaded but could not be approved due to technical glitch In a recent judgment ITAT has allowed the exemption u/s 11 when audit report in Form 10B was uploaded within due date but could not be …

Escapement of income u/s 147 has to be established with concrete information under amended Act– High Court In a recent judgment Hon’ble High Court has made an extensive comparison of the amended provisions of income tax act 1961 with respect to escapement of income and held that under …

Explaining source of cash payment not a valid ground for not invoking disallowance u/s 40A(3) – ITAT In a recent judgment the ITAT has held that explaining source of cash payment not a valid ground for not invoking disallowance u/s 40A(3) of the Income Tax Act, 1961 (the …

Prosecution u/s 276C and 278B upheld for not declaring income surrendered during search in return filed in response to notice u/s 153A In a recent judgment the Sessions Court has upheld the prosecution under section 276C and 278B of the Income Tax Act, 1961 (the Act)  for not …

Income tax e-filing portal enabled mechanism for remitting old tax demands. Check status The Finance Minister while presenting Union Interim Budget 2024 proposed to withdraw disputed old outstanding income tax demands The year wise quantum of demand to be extinguished is as under: up to FY 2009-10 Up …

Penalty u/s 271B deleted as notices were uploaded on portal only, assessee being a divorcee lady could not access income tax portal In a recent judgment ITAT has deleted the penalty u/s 271B as the notices were uploaded on the portal only and assessee was a divorcee lady …

Income surrendered in relation to hospital building construction by doctor was not unexplained investment u/s 69 liable to higher tax u/s 115BBE – ITAT In a recent judgment ITAT has held that the surrender of income by a practicing doctor towards understatement of hospital construction expenses can not …

Minimum hotel room occupancy guarantee payments by OYO not liable to TDS u/s 194C – ITAT  In a recent judgment ITAT has held that minimum hotel room occupancy guarantee payments by OYO rooms was not liable to TDS u/s 194C as payment to contractor  ABCAUS Case Law Citation:ABCAUS …

It is quite reasonable and logical for a married daughter to keep her jewellery with her mother. ITAT deleted addition u/s 69 for jewellery found in locker In a recent judgment ITAT has deleted the addition of jewellery found in locker holding that it is quite reasonable and …

No Penalty u/s 271B for non Tax Audit when AO treated capital gain transaction as business income In a recent judgment, ITAT has deleted penalty u/s 271B for failure to get accounts audited u/s 44Ab of the Income Tax Act, 1961 (the Act) where Assessing Officer (AO) has …