Category: Income Tax
CBDT notifies Income Tax Return Forms for AY 2023-24 CBDT has issued two notifications for notifying the formats of Income Tax Return and Acknowledgment for the Assessment Year 2023-24 (Financial Year 2022-23) Income Tax Return Notification ITR-7 For persons including companies required to furnish return under sections 139(4A) …
ITAT deleted penalty 271(1)(b) and 271F as explanation of the assessee was ignored by the Assessing Officer and CIT(A). ABCAUS Case Law Citation:ABCAUS 3663 (2023) (02) ITAT In the instant case, the appellant assessee had challenged the order passed by the Commissioner of Income Tax (Appeals), National Faceless …
Accumulation of charitable income u/s 11(1)(a) for incidental business is to be calculated on net profits not gross receipts. ABCAUS Case Law Citation:ABCAUS 3662 (2023) (02) ITAT Important Case Laws covered:Holy Spirit v/s. DCIT (Exemption)CIT vs. Thanthi Trust (2001) 247 ITR 785 (SC) Programme for Community Organization, (2001) …
Application u/s 202/203 CrPC – Accused cannot ask Trial Court to decide contentions raised by him at pre-summoning stage ABCAUS Case Law Citation:ABCAUS 3661 (2023) (02) AC Important Case Laws covered:Nupur Talwar v. CBI & Anr.State of Bihar and Another vs. P.P. Sharma and Another, 1992Manharibhai Muljibhai Kakadia …
Furnishing of return is complete for the purposes of Section 234A and Section 139 of the Act, the moment it is put in the course of transmission by way of uploading – ITAT ABCAUS Case Law Citation:ABCAUS 3660 (2023) (02) ITAT In the instant case, the assessee had …
Deductions should not be disallowed merely for any bona fide mistake or error of the taxpayer – ITAT allows Deduction u/s 80IA ABCAUS Case Law Citation:ABCAUS 3659 (2023) (02) ITAT Important Case Laws covered:CIT vs. G. M. Knitting Industries (P) Ltd. & OthersM/s Aks Alloys (P) Ltd. 2013 …
Credit for TCS made in the hands of partner allowed to partnership firm. If ultimate conclusion on application u/s 154 can only be one particular conclusion then it can be said that the issue is debatable – ITAT ABCAUS Case Law Citation: ABCAUS 3658 (2023) (02) ITAT Important …
Centralised Processing of Equalisation Levy Statement Scheme, 2023 in respect of processing of the EqualisationLevy Statements MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 03/2023 New Delhi, the 7th February, 2023 INCOME-TAXS O.614(E).—In exercise of the powers conferred by sub-section (2) of section …
Validity of Notice u/s 148. It is not necessary that original assessment order should contain discussion to disclose satisfaction. ABCAUS Case Law Citation:ABCAUS 3657 (2023) (02) SC Important Case Laws covered:Aroni Commercials Ltd. vs. Deputy Commissioner of Income Tax 2014] 44 taxmann.com 304 (Bombay) In the instant case, …
Ex parte order remanded as notices not sent to e-mail address mentioned in Appeal Form-35 but to email linked to PAN ABCAUS Case Law CitationABCAUS 3656 (2023) (02) ITAT In the instant case, the assessee had challenged the ex parte order passed by the CIT(A) on the ground …
