Category: Income Tax
No relief admissible u/s 89(1) for compensation received on termination of employment due to closure of plant In a recent judgment, the Hon’ble ITAT has held that no relief admissible u/s 89(1) towards compensation received on termination of employment due to closure of plant ABCAUS Case Law Citation:ABCAUS …
Notices u/s 133(6) not enough for verification of loan transactions from shell companies. AO ought to have done further inquiry to ascertain genuineness & creditworthiness – High Court Notice under Section 133(6) of the Act is not enough to verify identity, genuineness and creditworthiness of transactions from shell …
Mere use of term Islamic world or Islamic Scholars in objects would not make trust created only for a religious community or cast – ITAT In a recent judgment, the Hon’ble ITAT has held that mere use of term Islamic world in objects and particularly the Islamic Scholars …
Disallowance u/s 43B deleted as GST payable was not debited to Profit & Loss account and was paid before due date for filing return of income. In a recent judgment, the Hon’ble ITAT has deleted disallowance u/s 43B as GST payable reported in Tax Audit Report was not …
No disallowance for delayed deposit of PF/ESI prior to judgment of Supreme Court Disallowance of u/s 36(1)(va) for delayed deposit of employees share of PF/ESI contribution prior to the judgment of Hon’ble Supreme Court being debatable, CPC could not have made adjustments u/s 143(1) – ITAT In a …
No pre-deposit requirement of tax/advance tax u/s 249(4)(b) before appeal to CIT(A) in case of no admitted or undisputed tax – ITAT In a recent judgment, the Hon’ble ITAT has held that in case of no admitted or undisputed tax, pre-deposit requirement under Section 249(4)(b) of the Income …
Excel Form 10E-Salary Arrears Relief calculator AY 2024-25 (FY 2023-24) for claiming rebate under section 89(1) of Income Tax Act 1961-Download As per section 89(1) of the Income Tax Act, 1961 relief for income tax has been provided when in a financial year an employee receives salary in …
Consent for transfer of jurisdiction u/s 127 of the assessee must be given by the appropriate authority not by a authority subordinate to him – High Court In a recent judgment, the Hon’ble Allahabad High Court consent for transfer of jurisdiction u/s 127 of the assessee must be …
Penalty u/s 272A(1)(d) deleted as notices gave assessee only two hours time to comply and that too on a public holiday i.e. Sunday In a recent judgment, the Hon’ble ITAT has deleted the Penalty u/s 272A(1)(d) for non compliance of notices, as notices were issued on Sunday and …
Digital Evidence Investigation Manual of CBDT is mandatory to be followed by ITD while conducting search and seizure and it is not optional – High Court In a recent judgment, the Hon’ble High Court has held that it is mandatory for the ITD to follow the Digital Evidence …