Category: Income Tax
ITAT to obtain satisfaction from Misc. application on causes shown for not appearing on the date of hearing in original proceedings – High Court In a recent judgment, Hon’ble High Court restored the case to ITAT as it had failed to obtain satisfaction from the miscellaneous application to …
Deduction u/s 80JJAA allowed for delayed filing of Form 10DA as Form 3CD showing the quantum of deduction was filed prior to one month from filing of return of income. In a recent judgment, ITAT Bengaluru has allowed deduction u/s 80JJAA as Form 3CD showing the quantum of …
Notice u/s 148 quashed as passed without application of mind for quoting wrong section while seeking approval for reopening u/s 151 of the Act – SLP dismissed In a recent judgment, Hon’ble Supreme Court has upheld the judgment of Bombay High Court quashing the order quashing order passed …
CBDT specifies further forms to be filed electronically as prescribed in Appendix-II of the Income Tax Rules 1962 F. No. 30/DGIT(S)BLR/e-Filing Notification/Forms/2024 Government of IndiaMinistry of FinanceCentral Board of Direct TaxDirectorate of Income Tax (Systems) Notification No. 06/2024 Dated: 19-11-2024 Specifying Forms prescribed in Appendix-II of the Income …
Third party statement taken after recording reasons cannot form basis of Assessing Officer’s “reasons to believe” to reopen the assessment – ITAT In a recent judgment, ITAT Delhi has held that third party statement recorded subsequent to the reasons recorded, cannot form basis of Assessing Officer’s “reasons to …
Income from renting of shops and other space within Mall held taxable under the head of “income from business” not income from house property. In a recent judgment, Hon’ble Supreme Court income affirmed the judgment of Hon’ble Madhya Pradesh High Court that where letting out the property was …
CBDT authorises condonation of delay u/s 119(2)(b) in filing Form No. 10-IC or Form No. 10-ID for Assessment Years 2020-21, 2021-22 and 2022-23 F. No.173/32/2022-ITA-IGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes Circular No. 17/2024 New Delhi, the 18th November, 2024 Sub: Condonation of delay …
Condonation of delay in filing Form No. 9A/10/10B/10BB for AY 2018-19 & subsequent Assessment Year – CBDT order u/s 119(2)(b) CBDT has issued Circular No. 16/2024 dated 18.11.2024 authorising condonation of delay in filing Form No. 9A/10/10B/10BB for AY 2018-19 & subsequent Assessment Year where delay is up …
NFAC order was set aside by High Court as notice sent by e-mails were received in ‘spam’ folder In a recent judgment, Hon’ble Kerala High Court has set aside appellate order passed by NFAC as the notice of hearing sent by e-mails were received in ‘spam’ folder and …
Enhancing Tax Transparency on Foreign Assets & Income: Understanding CRS & FATCA CBDT has issued a guidance note on Common Reporting Standard (CRS) and Foreign Account Tax Compliance Act (FATCA) along with a Step-by -Step Guide to fill FSI, TR and FA Schedule in ITR Purpose of CRS and …
