Category: Income Tax
Claim of exemption u/s 10(26) for Tribal Person remanded when by ignorance PAN was wrongly applied in the name of Partnership Firm. In a recent judgment, ITAT Guwahati remitted the issue claim for exemption u/s 10(26) for Tribal Person when by ignorance PAN was wrongly applied in the …
New Income Tax Bill 2025 nearly doubles existing sections of 1961 Act. Download copy of Bill and read FAQs on New Income Tax Bill 2025 Union Finance Minister, in her Budget 2025 speech has informed the proposal to introduce the new Income-Tax Bill/Code. The new Income Tax Act …
Without recalling earlier order, fresh rectification order u/s 154 can not be passed In a recent judgment, Allahabad High Court has quashed second rectification order u/s 154 which was passed without recalling the earlier order passed u/s 154 ABCAUS Case Law Citation:4409 (2025) (02) abcaus.in HC In the …
Annual Statement u/s 285 by a non-resident to be furnished within eight months Under section 285 of the Income Tax Act, 1961 (the Act) every person, being a non-resident having a liaison office in India set up in accordance with the guidelines issued by the Reserve Bank of …
Possibility of initiating proceedings against an assessee cannot be kept pending over his head like a Damocle’s sword – Penalty u/s 271B quashed by High Court In a recent judgment, the Hon’ble Kerala High Court has quashed penalty u/s 271B observing that the possibility of initiating proceedings against …
There is no provision in Income Tax Act for discounting the time spent during the pendency of proceedings against the deceased assessee while computing the limitation period for initiating the proceedings against his Legal Representatives. In a recent judgment, the Hon’ble Karnataka High Court has held that there …
CCIT order rejecting application for compounding of offence u/s 276CCC quashed by Supreme Court being covered by the expression “first offence”. In a recent judgment, the Hon’ble Supreme Court quashed the order of the CCIT in rejecting the application for compounding of offence u/s 276CCC for belated filing …
Case remitted for verification of wrong figure on account of adjustment for ICDS as reported by Tax Auditor. In a recent judgment, the ITAT Chennai remitted the matter for verification where CPC made adjustment u/s 143(1) of the Income Tax Act, 1961 (the Act) due to wrong figure …
HC condoned delay in uploading audit report Form 10B by 1 hour, 19 minutes and 16 seconds due to technical glitch In a recent judgment, the Orrisa High Court condoned the delay in uploading audit report in Form 10B by 1 hour, 19 minutes and 16 seconds due …
Specific notice required if CIT(Exemption) intends to travel beyond three years expenditure as prescribed in Rule 11AA(g) – ITAT In a recent judgment, the ITAT Surat held that if CIT(Exemption) intends to travel beyond three years expenditure as prescribed in Rule 11AA(g), he should have issued specific show …
