Judgement

Income Tax Appellant Tribunal (ITAT) Surat has said that in absence of material to show net profit rate, the presumptive net profit rate of 8% as stipulated in section 44AD could be taken for estimation of income.

Income Tax Assessment: Take presumptive rate of 8% u/s 44AD in absence of record; says ITAT

Rs 100 Crore Assessment Notice quashed by High Court due to violation of Natural Justice

News

Know the new banks for over-the-counter and online banking options for e-Pay Tax service

The Central Board of Direct Taxes has informed taxpayers that they must complete the verification of their Income Tax Return (ITR) by January 30.

Finish this Income Tax related work before January 30; Otherwise your ITR will be held Invalid

ITAT has deleted a penalty for violation of Section 269ST when cash deposited is duly accounted for and offered for taxation.

ITAT deletes penalty for violation of Sec 269ST when cash deposited is duly accounted & offered for taxation

ITAT deletes penalty for contravention of Sec 269SS as tribunal held that cash wrongly deposited due to mistake in filling bank slip is a reasonable cause.

Cash wrongly deposited due to mistake in filling bank slip: ITAT deletes penalty for contravention of Sec 269SS

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