Category: Income Tax
Deduction u/s 35(2AB) allowed as Form 3CL was issued late by the competent authority . Form 3CL issued by competent authority can not be ignored – ITAT ABCAUS Case Law Citation:ABCAUS 3743 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the …
FAQ on applicable TCS rates subsequent to Spending on International Credit Card on foreign trip expenses brought under FEMA Rules Finance Ministry issue Frequently Asked Questions (FAQs) on Tax Collection at Source (TCS) on foreign remittance through the Liberalised Remittance Scheme (LRS) subsequent to The e-Gazette notification dated …
Bitumen not valuable article u/s 69A as it requires ownership in large quantity to treat it valuable – Supreme Court ABCAUS Case Law Citation:ABCAUS 3742 (2023) (05) SC Important Case Laws relied upon:Dhirajlal Haridas v. Commissioner of Income TaxCommissioner of Income Tax v. Amrit lal ChunilalKotak Mahindra Bank …
Income Tax Aaykar Sampark Kendra and its Helpline numbers going to be discontinued. View working Tax Helpline Numbers The the new numbers of Income tax Helpline/helpdesk which will continue are as under E-filing Help Desk Contact Details: e-filing and Centralized Processing Centere-Filing of Income Tax Return or Forms …
Power of revision u/s 263 cannot be exercised to collect more taxes by bringing income within the ambit of Sections 68/ 69 etc. and applying higher tax rate u/s 115BBE. ABCAUS Case Law Citation:ABCAUS 3741 (2023) (05) ITAT Important Case Laws relied upon:PCIT vs. Deccan Jewellera (P) Ltd. …
Late fee u/s 234F for delay in filing of ITR deleted as CPC erred in considering due date applicable to the partner assessee ABCAUS Case Law Citation:ABCAUS 3740 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) NFAC in confirming …
Capital Gain Exemption u/s 54 wrongly claimed under section 54F allowed being bonafide typographical mistake ABCAUS Case Law Citation:ABCAUS 3739 (2023) (05) ITAT Important Case Laws relied upon:ITO v Anirudh Ashok JajooShrikar Hotels (P.) Ltd. vs. Commissioner of Income-tax 79 taxmann.com 63Commissioner of Income-tax vs. Natraj Stationery Products …
Addition based on projected income surrendered during search deleted as actual gross income reported in audited accounts was higher ABCAUS Case Law Citation:ABCAUS 3738 (2023) (05) ITAT In the instant case, the Revenue had challenged the order passed by CIT(A)/FAA deleting the addition for undisclosed profit made by …
Drawings and returned income speak volumes about richness of family – ITAT deleted addition for jewellery found during search. ABCAUS Case Law Citation:ABCAUS 3737 (2023) (05) ITAT Important Case Laws relied upon:Ashok Chaddha vs. ITO 14 taxman.com 57 In the instant case, the assessee had challenged the order …
Adjustment denying exemption u/s 10(23C)(iiiad) deleted as there was no column / provision in ITR for showing computation of exemption u/s 10(23C)(iiiad) ABCAUS Case Law Citation:ABCAUS 3736 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the adjustment …
