One Time Verification Process of ITR V
Introduction In respect of an Income Tax Return filed electronically without a digital signature, the taxpayer is required to verify the same within the time...
Tag : #cbdt
Income tax refunds worth Rs. 5204 Crores issued in last 10 days : CBDT
The Central Board of Direct Taxes (CBDT) today said that Income tax refunds to nearly 8.2 lakh small businesses (proprietors, firms, corporate and trusts) worth...
Forms required to submit for availing benefit under ‘DIRECT TAX VIVAD SE VISHWAS’ Scheme will be available in the e-Filing soon
After the President gives accent to the Direct Tax Vivad Se Vishwas Act, 2020 on 17th March, 2020, the Income Tax Efiling Website has updated...
the provisions of Sec.2(22)(e) were not applicable since the payment was mere reimbursement of expenditure by M/s PHL – ITAT Mumbai
The provisions of Sec.2(22)(e) were not applicable since the payment was mere reimbursement of expenditure by M/s PHL. However, Ld. CIT(A) proceeded on wrong footing...
Service of notice upon a dead person under section 142(1) would not authorise him to assume jurisdiction to pass assessment order on the Legal Representatives – ITAT Ahemdabad
It is found that before service of notice under section 142(1), assessee had already expired. His legal heirs did not file return for this assessment...
Where the assessee provided all the confirmation of the creditors at the CIT(A) level, the orders of the lower authorities set aside and send back for reconsideration – ITAT Delhi
During the assessment proceedings, the Assessee fails to provide confirmation of 04 creditors and the AO added the whole amount of creditors to its income....
Appeal withdrawn from ITAT as the same is filed to be settled under Vivad Se Vishwas Scheme- ITAT Delhi
Three appeals is withdrawn from ITAT Delhi as the assessee is availing the Vivad Se Vishwas Scheme, 2020 for the purpose of settlement of issues...
ITR 1 and ITR 4 notified for the AY 2020-21
In a surprising move by the Income Tax Department, the ITR 1 and ITR 4 have been notified for the AY 2020-21. This is the...
Where the assesse has made the FDR out of borrowed funds, the interest on such FDRs cannot be added back by invoking the provisions of section 57(iii) of the Income Tax Act, 1961 – ITAT Delhi
Crux : Where the assesse has made the FDR out of borrowed funds, the interest on such FDRs cannot be added back by invoking the...
Where no satisfaction note in the searched persons proceeding recorded separately, the jurisdiction assumed u/s 153C in the case of the assessee is not in accordance with provisions of section 153C – ITAT Delhi
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/12/ITAT-Delhi-1-2.odt” comments=”true” SVG=”true”] To download the complete order, click here ITA No.1720-Del-2015-ACIT vs. Gracious Project Pvt. ltd....
Where the notice issued u/s 271(1)(c) read with section 274 of the act does not specify whether the penalty is for concealment of income or for furnishing of inaccurate particulars of income, the same is bad in law and no penalty can be levied.
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/12/ITAT-Mumbai_1.odt” comments=”true” SVG=”true”]...
Exception to monetary limits for filing appeals specified in any circular issued under section 268A of Income tax act
Central Board of Direct Taxes (CBDT) has issued the circular no. 23 of 2019 in which exception has been given for the monetary limit for...