Category: Income Tax
Faceless Assessing Officer can not extend time barring date in Income Tax Business Application without statutory order – High Court ABCAUS Case Law CitationABCAUS 3598 (2022) (05) HC In a recent case Hon’ble High Court has held that the act of the Faceless Assessing Officer extending the Time …
CBDT amends laws relating to Faceless Income Tax Penalty Scheme CBDT has notified the Faceless Penalty (Amendment) Scheme, 2022 and made amendments to its Notification No. 3/2021 dated 12.01.2021. CBDT has issued two notifications namely Notification No. 54/2022 and Notification No. 55/2002 dated 27.05.2022Under the amended provisions/rules, the …
No revision u/s 263 simply because AO in order did not make an elaborate discussion – ITAT ABCAUS Case Law CitationABCAUS 3597 (2022) (05) ITAT Important case law relied referred:Malabar Industrial Co. Ltd. 243 ITR 83Gabriel India Ltd 203 ITR 10CIT vs. Anil Kumar reported in 335 ITR …
CIT is required to make enquiries himself to allege assessment order as erroneous and prejudicial to the interest of Revenue u/s 263 ABCAUS Case Law CitationABCAUS 3596 (2022) (05) ITAT Important case law relied referred:CIT Vs Jaiswal Motor Finance 141 ITR 706 (All)CIT Vs Metachem Industries 245 ITR …
ITAT admits additional evidences as assessee died before assessment proceedings and it could not be collected in time by legal heirs ABCAUS Case Law CitationABCAUS 3595 (2022) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in restricting the addition made …
Appeal disposed of in a hurried manner without affording reasonable opportunity or being heard set aside by ITAT ABCAUS Case Law CitationABCAUS 3593 (2022) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the addition made by the Assessing …
Invoking Revisionary powers u/s 263 merely on the basis of suspicion not justified. Where AO made necessary inquiry and satisfied itself about explanation offered, revising such order is unjustified – ITAT ABCAUS Case Law CitationABCAUS 3591 (2022) (05) ITAT Important case law relied referred:CIT vs. Anil Kumar Sharma …
Disallowance u/s 36(1)(va) for delayed EPF deposit. Amendment by Finance Act is prospective – ITAT ABCAUS Case Law Citation ABCAUS 3590 (2022) (05) ITAT Important case law relied referred:Azamgarh Steel & Power vs. CPCCIT vs. AIMIL Ltd. 188 Taxman 265 (Delhi)Vedvan Consultants Pvt. Ltd. vs DCITPCIT vs Pro …
NSDL latest e-TDS TCS Return Preparation Utility (RPU) Version 4.1 from FY 2007-08 NSDL has revised the e-TDS TCS RPU utility for preparing of TDS/TCS returns. e-TDS/TCS File validation utility (FVU) versions 2.172 up to FY 2009-10 and Version 7.6 for FY 2010-11 onwards have also been released NSDL latest …
CBDT issues new guidelines for functionality of higher TDS/TCS for non filer of Return of Income (ITRs) u/s 206Ab / 206CCA – CBDT Circular Circular No. 10 of 2022 F. No. 370133/3/2022-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes …
