Category: Income Tax
Income Tax Aaykar Sampark Kendra and its Helpline numbers going to be discontinued. View working Tax Helpline Numbers The the new numbers of Income tax Helpline/helpdesk which will continue are as under E-filing Help Desk Contact Details: e-filing and Centralized Processing Centere-Filing of Income Tax Return or Forms …
Power of revision u/s 263 cannot be exercised to collect more taxes by bringing income within the ambit of Sections 68/ 69 etc. and applying higher tax rate u/s 115BBE. ABCAUS Case Law Citation:ABCAUS 3741 (2023) (05) ITAT Important Case Laws relied upon:PCIT vs. Deccan Jewellera (P) Ltd. …
Late fee u/s 234F for delay in filing of ITR deleted as CPC erred in considering due date applicable to the partner assessee ABCAUS Case Law Citation:ABCAUS 3740 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) NFAC in confirming …
Capital Gain Exemption u/s 54 wrongly claimed under section 54F allowed being bonafide typographical mistake ABCAUS Case Law Citation:ABCAUS 3739 (2023) (05) ITAT Important Case Laws relied upon:ITO v Anirudh Ashok JajooShrikar Hotels (P.) Ltd. vs. Commissioner of Income-tax 79 taxmann.com 63Commissioner of Income-tax vs. Natraj Stationery Products …
Addition based on projected income surrendered during search deleted as actual gross income reported in audited accounts was higher ABCAUS Case Law Citation:ABCAUS 3738 (2023) (05) ITAT In the instant case, the Revenue had challenged the order passed by CIT(A)/FAA deleting the addition for undisclosed profit made by …
Drawings and returned income speak volumes about richness of family – ITAT deleted addition for jewellery found during search. ABCAUS Case Law Citation:ABCAUS 3737 (2023) (05) ITAT Important Case Laws relied upon:Ashok Chaddha vs. ITO 14 taxman.com 57 In the instant case, the assessee had challenged the order …
Adjustment denying exemption u/s 10(23C)(iiiad) deleted as there was no column / provision in ITR for showing computation of exemption u/s 10(23C)(iiiad) ABCAUS Case Law Citation:ABCAUS 3736 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the adjustment …
Mere affidavits of typographical error by typist & CA in Audit Report not enough when assessee was found to maintain duplicate accounts – Supreme Court ABCAUS Case Law Citation:ABCAUS 3735 (2023) (05) SC Important Case Laws relied upon:CST vs. Esufali (HM) Abdulali (HM) (1973) 90 ITR 271 (SC)Nalinakshi …
Credit for TDS inadvertently not claimed in return of income allowed by ITAT holding that assessee should not be deprived of the benefit of the TDS credit which was inadvertently not claimed in the return of income ABCAUS Case Law Citation:ABCAUS 3734 (2023) (05) ITAT Important Case Laws …
Penalty u/s 271D initiated when assessee was alive but order invalid if passed in the name of assessee after his death ABCAUS Case Law Citation:ABCAUS 3733 (2023) (05) ITAT Important Case Laws relied upon:ITO v. Bhupendra Bhikhalal Desai 131 taxmann.com 40 (SC)ITO vs. Durlabhbhai Kanubhai Rajpara 114 taxmann.com …
