Category: Income Tax

Transit rent paid to tenant who suffers hardship due to dispossession does not fall within the definition “rent” under section 194I – ITAT  In a recent judgment, the ITAT Mumbai has held that transit rent paid to tenant who suffers hardship due to dispossession does not fall within …

Size of the residential house is not a criteria for claiming exemption u/s 54F – ITAT  In a recent judgment, the ITAT Delhi has held that size of the residential house is not a criteria for claiming exemption u/s 54F ABCAUS Case Law Citation:ABCAUS 4065 (2024) (06) ITAT …

AO refused to accept Tax Audit Report as schedule were not signed by CA. High Court remanded the matter  In a recent judgment, the Hon’ble High Court of Karnataka remanded the matter to Assessing Officer (AO) for fresh consideration where he refused to accept Tax Audit Report of …

Net Profit rate of 8% not applicable for audit case. Net Profit rate of 6% is reasonable for business of civil construction – ITAT In a recent judgment, the ITAT Patna has held that though in the non-audit case, Net Profit rate of 8% is considered as fair …

Change in explanation of assesseee due to change of council cannot be summarily brushed aside – ITAT  In a recent judgment, the ITAT Raipur has held that the claim that explanation regarding the source of cash deposits in the assessee’s bank account as was advanced before the AO …

Agricultural income can not be doubted merely for not paying agricultural cess to Krishi Upaj Mandi – ITAT In a recent judgment, the ITAT Jodhpur has held that the agricultural income can not be disbelieved merely for not paying agricultural cess to Krishi Upaj Mandi ABCAUS Case Law …

Order u/s 148A(d) quashed for non furnishing vital information to assessee to rebut allegation of escapement of income In a recent judgment, the Hon’ble Allahabad High Court has set aside order passed u/s 148A(d) holding that when vital information was not furnished to assessee, due compliance of Section …

Late fee on TDS payments and payment of interest on GST is allowable expenditure u/s 37 of the Income Tax Act – ITAT  In a recent judgment, the ITAT Chennai has held that late fee paid on TDS payments and interest on late payment of GST is allowable …

High Court denies bail to the Income Tax staff involved in Muzaffarnagar tax refund scam  In a recent judgment, the Hon’ble Allahabad High Court has denied bail to the Income Tax staff involved in Muzaffarnagar income tax refund scam  ABCAUS Case Law Citation:ABCAUS 4056 (2024) (05) HC In …

Pr. CIT u/s 263 empowered to review orders passed by JCIT as Section 263 is inclusive one  In a recent judgment, the Hon’ble High Court has held that Section 263 of the Income Tax Act, is inclusive one and include jurisdiction of the Pr.CIT to review the orders …