Category: Income Tax

How a father support his son either gifting him lump sum cash or at intervals is his prerogative – ITAT deleted addition In a recent judgment, ITAT Delhi has held that desire of a father how he would support his son either gifting him cash in lump sum …

Penalty u/s 271D can’t be imposed unless AO recorded satisfaction in the assessment order that alleged transaction of acceptance of loan would attract penal consequences. In a recent judgment, Hon’ble High Court of Andhra Pradesh has quashed penalty u/s 271D of the Income Tax Act, 1961 (the Act) …

Income Tax Department  can not sit over appeal and at the same time taking steps for getting assessment and penalty order being executed by resorting to coercive steps. In a recent judgment, Hon’ble High Court of Telangana quashed the order attaching the bank accounts of the assessee observing …

Penalty u/s 270A on account under reporting of income deleted as assessee relied upon Supreme Court judgments to claim income exempt In a recent judgment, ITAT Delhi has deleted penalty u/s 270A on account under reporting of income as assessee relied upon judgment of Hon’ble Supreme Court to …

Excel Auto Form 15G for AY 2025-26 and 2026-27 with database as revised and simplified  Form 15G is a declaration under sub section (1) and (1A) of section 197A of the Income Tax Act, 1961 which can be given by an individual or a person (other than company …

Download Excel Auto Income Tax Form 15H for Senior Citizens and 15G with Database for AY 2025-26 & 2026-27. Revised as per Notification 76/2015 Form 15H is a declaration under sub section (1C) of section 197A of the Income Tax Act, 1961 which can be given by a …

DIN is not required in Satisfaction note which is a procedural aspect for issuing notice u/s 148 of the Act which already contains the DIN number and date.  In a recent judgment the Hon’ble Supreme Court has dismissed the Special Leave Petition (SLP) against the decision of the …

CPC Intimation u/s 143(1)(a) making adjustment without indicating reasons for the rejection of the response of the assessee – ITAT remands case for verification In a recent judgment, ITAT Delhi set aside the order of CIT(A) where CPC Intimation u/s 143(1)(a) made adjustment without indicating whether any response …

During appellate proceedings against order u/s 263, validity of original assessment order can be examined  In a recent judgment, ITAT Delhi held that during the course of appellate proceedings against the order passed u/s 263 of the Act, the validity of the assessment order from which such proceedings …

Cross-objection would not be maintainable in an income tax appeal to High Court under Section 260A In a recent judgment, Delhi High Court has held that cross-objection would not be maintainable in an income tax appeal to High Court under Section 260A of Income Tax Act, 1961. ABCAUS …