Income tax prosecution u/s 276CC where assessee filed belated return under section 139(4) – Allahabad High Court admits application In a recent judgment, the Hon’ble Allahabad High Court has admitted an application contending that where assessee had filed return of income under Section 139(4) of the Income Tax …

CBDT extends time for filing audit report in Form 10B of 10BB for AY 2023-24 to 31.03.2024 Extension of time limit /due date for filing audit report in Form 10B of 10BB by trusts and institutions for AY 2023-24 to 31.03.2024 was necessitated by trusts / institutions filing …

Assessment order has to be read as it is and there is no scope for drawing any inference or reading between the lines of an assessment order – ITAT In a recent judgment, the ITAT set aside the revisonary order u/s 263 holding that Assessment order has to …

Belief of the Assessing Officer regarding escapement of income should be based on some tangible information In a recent judgment, the ITAT has held that belief of the Assessing Officer regarding escapement of income should be based on some tangible information and it should not be mere pretence …

Capital gain tax in JDA is in the year of receipt of constructed area and not in year of entering into joint development agreement – ITAT In a recent judgment, ITAT has confirmed that capital gain tax in the case of a joint development agreement is in the …

Simply holding that AO was required to make more enquires is not a valid ground to hold assessment order as erroneous and prejudicial – ITAT ABCAUS Case Law Citation:ABCAUS 3892 (2024) (03) ITAT In the instant case, the assessee had challenged the revisionary order u/s 263 passed by …