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The department alleges that the company's income worth Rs 1,43,23,625 has escaped the assessment for the financial year 2022-23 under section 147 of the Income Tax Act.

Raymond Reality's Subsidiary Receives SCN Alleging Income Escapement

A parliamentary panel has asked the govt to fully test and strengthen the Income Tax e-filing portal and IT systems to avoid technical glitches.

Govt Told to Ensure Glitch-Free IT Portal Before New Tax Law Implementation

Even after this hefty demand, Electrotherm, based on its assessment and legal advice, expressed its confidence that the order does not affect the financial operations of the company.

Electrotherm Faces Huge Income Tax Demand of Rs 72.69 Crore; Plans to Challenge Order

Judgement

Tribunal holds ESOP and IT support payments to overseas group company are allowable business expenses; directs assessee to challenge sales return disallowance separately

ITAT Allows ESOP Expenses And Promotional Testers Allowed As Business Deduction

ITAT Allows ESOP Expenses and Promotional Testers Allowed As Business Deduction

The Income Tax Department has raised a demand of Rs 537.75 crore, including tax of Rs 441.24 crore and interest of Rs 96.51 crore.

SBI Life Insurance Receives Income Tax Assessment Order Raising Rs 537.75 Crore Demand

Tribunal directs AO/TPO to treat goodwill amortization as extraordinary expense while computing PLI under TNMM for determining arm’s length price.

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Raymond Reality's Subsidiary Receives SCN Alleging Income Escapement

Govt Told to Ensure Glitch-Free IT Portal Before New Tax Law Implementation

Electrotherm Faces Huge Income Tax Demand of Rs 72.69 Crore; Plans to Challenge Order

ITAT Allows ESOP Expenses and Promotional Testers Allowed As Business Deduction

SBI Life Insurance Receives Income Tax Assessment Order Raising Rs 537.75 Crore Demand

ITAT Holds Goodwill Amortization from Slump Sale as Non-Operating for TP Margin