Judgement

The ITAT Chennai has held that Penalty provisions u/s 271(1)(c) cannot be applied when quantum addition are made by applying peak credit theory.

Penalty provisions u/s 271(1)(c) cannot be applied when quantum addition are made by applying peak credit theory

News

It is pointless to wait for an extension of due date for filing ITR for financial year 2022-23. A record number of taxpayers have already filed their returns for AY 2023-24.

Big Announcement of Income Tax Department at last moment; New Update for ITR Filers

Articles

The Deadline of Filing ITR is 3 Days away, i.e. 31st July 2023. While various CA and Tax Association approach and request government to extend deadline of Filing ITR.

Extension of ITR Filing Due Date: ATBA Representation

Extension of ITR Filing Due Date: Extend ITR Filing Due date Till 30th Sep 2023 asks ATBA

The All India Cost and Management Accountants Association has requested Hon'ble Finance Minister to Permanently extend ITR Filing Due date FY 2022-23 to August 31st.

Permanent Extension of Income Tax Return Filing Due Date to 31st August

Permanent Extension of Income Tax Return Filing Due Date to 31st August Requested by AICMAA

ITAT Chennai has ruled out that Professional fees cannot be taxed under the head salaries merely it is given to a Managing Director.

Professional fees cannot be taxed under the head salaries merely it is given to a Managing Director

The ITAT Indore in the matter of Shri Ankit Khandelwal Vs. Assessing Officer deletes penalty u/s 272A(1)(d) for Non Receipt of Faceless Assessment/E-Assessment Notice.

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Penalty provisions u/s 271(1)(c) cannot be applied when quantum addition are made by applying peak credit theory

Big Announcement of Income Tax Department at last moment; New Update for ITR Filers

Extension of ITR Filing Due Date: Extend ITR Filing Due date Till 30th Sep 2023 asks ATBA

Permanent Extension of Income Tax Return Filing Due Date to 31st August Requested by AICMAA

Professional fees cannot be taxed under the head salaries merely it is given to a Managing Director

Non Receipt of Faceless Assessment/E-Assessment Notice: ITAT deletes penalty u/s 272A(1)(d)