Category: Income Tax
CBDT grants further extension in timelines of compliances, announces tax exemption for expenditure on Covid treatment and ex-gratia received on death due to Covid CBDT has issued Circular No. 12/2021 extending various timelines and exempting covid treatment expenditure and ex-gratia received on death due to Covid. …
No addition can be made on issues for which case was not reopened. Reassessment quashed as addition made on issues not recorded in reasons. The case of the appellant assessee in this case was when no addition has been made on the issue for which the case was …
NFAC is bound by binding decision of Jurisdictional High Court when AO is situated within territorial and subjective jurisdiction of High court. ITAT urges CBDT to recall all such orders This decision of the ITAT covered four appeals filed by the assessees, feeling aggrieved by the order passed …
Procedure for using functionality of Compliance Check for Section 206AB & 206CCA for non filers of ITRs Recently CBDT vide Circular No. 11/2021 dated 21.06.2021 issued Compliance Check Functionality for Section 206AB & 206CCA of Income-tax Act 1961. Section 206AB and 206CCA, effective from 1st …
Finance Minister asks Infosys to solve problems faced in e-filing portal without further loss of time Right from the launch of new income tax efiling portal, on 7th June 2021 it has succumbed to technical glitches and users/taxpayers are finding it very difficult to ensure the due compliances …
CIT exemption cannot sit in appeal against affiliation granted to asseesee by Education Board. Permission examined by board can not be a subject matter of fresh examination by the CIT exemption. ABCAUS Case Law CitationABCAUS 3512 (2021) (06) ITAT In the instant case, the assessee had challenged the …
Non-specific penalty notice u/s 271(1)(c) issued by assessing officer violates mandatory requirement of law and doctrine of prejudice cannot be invoked ABCAUS Case Law CitationABCAUS 3511 (2021) (06) ITAT Important case law relied referred:Mohd. Farhan A. ShaikhRajesh Kumar v. CIT State of Orissa v. Dr. Binapani Dei Dilip …
Functionality of compliance Check u/s 206AB & 206CCA for non filers of ITRS issued by CBDT Section 206AB and Section 206AC were inserted by the Finance Act 2021 to provide for higher rate of TDS for non filers of Income Tax Returns (ITRS). The provisions of …
Addition for undisclosed foreign bank account deleted as the information received in pen drive under DTAC lacked basic essentials of a bank statement. In the instant case, the assessee was aggrieved by the order of the CIT(A) confirming the addition u/s 69 of the Income Tax Act, …
Finance Ministry to hold meeting with Infosys on glitches in new e-filing portal of the Income Tax Right from the launch of new income tax efiling portal, on 7th June 2021 it has succumbed to technical glitches and users/taxpayers are finding it very difficult to ensure the …
