Category: Income Tax
CBDT launches e-portal for filing complaints/Petition of tax evasion/Benami Properties/Foreign Undisclosed Assets The Central Board of Direct Taxes has launched an automated dedicated e-portal on the e-filing website of the Department to receive and process complaints of tax evasion, foreign undisclosed assets as well as complaints regarding benami …
Faceless Penalty Scheme 2021 -Exception where few provisions of the Income Tax Act not applicable to the Scheme For the purposes of giving effect to the Faceless Penalty Scheme 2021 (the Scheme) the CBDT vide Notification No. 03/2021 has made several directions. It has been provided that the …
 Faceless Penalty Scheme 2021 notified by CBDT. Read Procedure in Penalty  Moving one more step in the direction of Faceless Assessment, the CBDT vide Notification No. 02 /2021 has notified the Faceless Penalty Scheme 2021. It has become effective from 13th Januray 2021 Faceless Penalty Scheme …
CBDT denies any further extension in due dates for filing ITRs/Audit Reports CBDT passes order u/s 119 of Income-tax Act,1961 in F No. 370153/39/2020-TPL dt 11th January, 2021, disposing off the representations for extension of due date for filing of Audit Report u/s 44AB, in compliance with the …
Reassessment held bad in law as assessee not given four weeks time to seek legal remedy after rejection of objections to reopening ABCAUS Case Law CitationABCAUS 3438 (2021) (01) ITAT Important case law relied upon by the parties:Smt. Kamlesh Goel vs. Income Tax OfficerPr. CIT vs. Sagar DeveloperBharat …
Non-filing of ITRs by lenders can give rise to suspicion for the lack of creditworthiness but not sufficient to draw inference against assessee ABCAUS Case Law CitationABCAUS 3437 (2021) (01) ITAT Important case law relied upon by the parties:CIT Vs. Chanakya Developers reported 43 taxmann.com 91 In the …
Claim of agricultural income allowed in view of ownership of large land, girdwari and village sarpanch certificate ABCAUS Case Law CitationABCAUS 3436 (2021) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in part confirming the additions made by the Assessing …
Even a single transaction may constitute business as defined in section 2(13) of the Income Tax Act ABCAUS Case Law CitationABCAUS 3435 (2021) (01) ITAT Important case law relied upon by the parties:ITO vs. Amrit Foods (P) Ltd. (1984) 10 ITD 681 In the instant case, the assessee …
Gujarat High Court directs CBDT to decide on further due date extension by 12.01.2021. Writ Petition was filed by All Gujarat Federation of Tax Consultants Breaking: CBDT denies any further extension in due dates for filing ITRs/Audit Reports. Order u/s 119 in pursuance of Gujarat HC direction Read …
Aadhaar OTP based EVC of ITRs-Maximum 5 OTP requests for a single Aadhaar can be made within a span of 30 minutes. Aadhar based OTP is one of the Electronic Verification options of verifying submission of the Income Tax Returns (ITRs). Other options for generating Electronic Verification Code …
