Category: Income Tax
Relaxation of time for processing of e filed ITR filed upto 31.03.2024 erroneously invalidated by CPC. CBDT has issued Circular No. 10/2025 dated 28.07.2025 giving relaxation of time limit for processing of returns of income filed electronically upto 31.03.2024 which have been erroneously invalidated by CPC F. No.225/30/2025/ITA-IIGovernment …
Time for compliance of notice is to be calculated not by the clock but by the calendar. – order u/s 148A(d) quashed Time for compliance of a notice is to be calculated not by the clock but by the calendar. In a recent judgment, Hon’ble Jharkhand High Court …
Exemption u/s 54F allowed by ITAT holding that investment in purchase of plot in the name of the spouse and their respective shares is immaterial In a recent judgment, ITAT Chennai has allowed exemption u/s 54F observing that entire investment in purchase of plot is in the name …
Mistakes committed by assessee in return of income can be corrected only through a revised return of income. CPC cannot go beyond the return of income In a recent judgment, Kerala High Court has upheld the judgment of the ITAT that mistakes committed by the assessee while filing …
Addition u/s 68 deleted as identity of loan givers established and assessee was not beneficiary as loan was repaid in subsequent year. In a recent judgment ITAT Mumbai deleted addition under section 68 as the  assessee had furnished requisite material showing identity of loan givers and assessee was …
No burden of proof on assessee to rebut the alleged Swiss Bank Account for mere presence of name in document obtained from a foreign govt. under DTAA. In a recent judgment, Delhi High Court held that mere presence of name in unauthenticated document obtained indirectly through a Foreign …
CBDT gives more relief in TDS Defaults due to PAN AADHAAR non linkage cases Partial Modification of Circular No. 3 of 2023 dated 28.03.2023 regarding consequences of PAN becoming inoperative as per Rule 114AAA of the Income-tax Rules, 1962 Central Board of Direct Taxes vide Circular No. 03 …
Filing of Form 10-IC prior to filing of return is not mandatory and in case of genuine hardship delay may be condoned – Allahabad High Court In a recent judgment, Allahabad High Court has held that filing of Form 10-IC prior to filing of return is not mandatory …
Joining lands and entering development agreement amounted to business as owners who were brother were also directors in the builder company In a recent judgment, ITAT Jodhpur has held that activity of joining the lands and constructing houses thereon amounted to adventure in the nature of trade as …
The deductor not required to act as an investigator or auditor to conduct any factual verification of the transporter’s declarations under section 194C(6)  In a recent judgment, ITAT Chandigarh has held that provisions of section 194C(6) did not require the deductor to examine balance sheets, registration certificates, …
