Category: Income Tax

CBDT notifies e-Verification Scheme 2021. CBDT has issued Notification No. 137 /2021 for the e-Verification Scheme, 2021. The Scheme has come into effect from 13th December 2021. Scope of the e-Verification Scheme 2021 The Scheme shall apply be in respect of: (i) calling for information under section 133 …

Omission to claim statutory deduction u/s 57(iv) is a mistake apparent from record, rectifiable under Section 154 In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the order passed by the Assessing Officer (AO) u/s 154 of the Income Tax Act, …

Reassessment notice issued under old section 148 after 31.03.2021 invalid as reassessment provisions are substituted by Finance Act, 1921 with effect from 01.04.2021. ABCAUS Case Law CitationABCAUS 3565 (2021) (12) HC Important case law relied referred:Union of India & Ors. Vs. S. Srinivasan, (2012) 7 SCC 683Palak Khatuja …

Prosecution for late deposit of TDS after 11 months. Once   there   was a non-deposit, necessary consequences shall follow including prosecution- Supreme Court ABCAUS Case Law CitationABCAUS 3564 (2021) (12) SC In the instant case, the assessee had wiled a Writ Petition to challenge the sanction letter for prosecution …

CBDT Guidelines under sub-section (4) of section 194-O, sub-section (3) of section 194Q and sub-section (1H) of section 206C of Income-tax Act, 1961 Finance Act, 2020 inserted a new section 194-O in the Income-tax Act 1961 (hereinafter referred to as ” the Act”) which mandates that with effect …

Faceless Assessment order quashed as no password was sent in the link to join video conferencing for the hearing ABCAUS Case Law CitationABCAUS 3563 (2021) (11) HC In the instant case, the assessee had wiled a Writ Petition to challenge the faceless assessment order passed under Section 143(3) …

Filling hypothetical income tax payment details in ITR to bypass erstwhile e-filing portal validation – Prosecution u/s 277 quashed by High Court ABCAUS Case Law CitationABCAUS 3562 (2021) (11) HC Important case law relied referred:Rakapalli Raja Rama Gopala Rao vs. Naragani Govinda Sehararao and another Income Tax Officer …

CBDT exempts income of Assam Building and Other Construction Workers Welfare Board u/s 10(46) of Income Tax Act 1961 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 10th November, 2021 S.O. 4637(E).—In exercise of the powers conferred by clause (46) of section 10 …

ITAT can not dismiss appeal ex-parte without addressing merits of issues in appeal- Allahabad High Court ABCAUS Case Law CitationABCAUS 3561 (2021) (11) HC Important case law relied referred:Multiplan India Ltd. 38 ITD 320Estate of Late Tukojirao Holkar vs. vs. CWT 223 ITR 480CIT vs. B. Bhattachargee & …

Expenses allowed in current year though accounted in subsequent year as prior period items and disallowed in computation ABCAUS Case Law CitationABCAUS 3560 (2021) (11) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming disallowance of expenses related to current …