Judgement

The Tribunal noted that the ITR, which included the cash sales, was accepted by the AO and making an addition would result in double taxation

Demonetisation addition deleted on Cash sales duly recorded in VAT return and ITR

The ITAT noted that even though the assessee could not fully substantiate the expenses, it was unfair to reject the claim.

ITAT Grants Partial Relief on Cash Deposit and Indexed Cost of Construction Claims

ITAT Delhi deleted a wrong tax demand after holding that a simple ITR entry mistake must be corrected by the AO during scrutiny, as the 143(1) order merges with the 143(3) assessment.

ITAT Delhi Deletes Rs. 7.08 Crore Demand due to Simple ITR Typing Error

Since the mistake was genuine and bona fide, the ITAT decided to set aside the order of the CIT(A) and directed the Assessing Officer to condone the default

AO Directed to Excuse Mistaken Exemption Selection in ITR

Articles

A comprehensive summary of the tax treatment of gratuity, pension, EPF, NPS, leave encashment, VRS, and retrenchment compensation.

Income Tax applicability on Retirement Benefits

Section 194R of the Income Tax Act, 1961 was introduced by the Finance Act, 2022 to ensure that benefits or perks given in the course of business or profession are properly reported and taxed.

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Demonetisation addition deleted on Cash sales duly recorded in VAT return and ITR

ITAT Grants Partial Relief on Cash Deposit and Indexed Cost of Construction Claims

ITAT Delhi Deletes Rs. 7.08 Crore Demand due to Simple ITR Typing Error

AO Directed to Excuse Mistaken Exemption Selection in ITR

Income Tax applicability on Retirement Benefits

TDS on Benefits or Perquisites under Section 194R