News

The IT Department has intensified automated scrutiny and is issuing bulk notices to taxpayers for mismatches, non-disclosure of foreign assets, incorrect deductions, and non-compliance in ITR filing.

IT Dept Intensifies Data-Driven Tax Scrutiny; Issues Bulk Notices After AIS, TIS and Form 26AS Mismatch Detection

The Income Tax Department Gives Final Chance to Declare Foreign Assets, Warns of Black Money Law Action

IT Department Issues ‘Last Warning’ to MNC Employees on Undisclosed Foreign Assets

Judgement

The tribunal ruled that the assessee was not required for a tax audit, and it deleted the Rs 1.5 lakh penalty levied under section 271B of the Income Tax Act.

ITAT Deletes Penalty on Share Broker for Failure to Submit Tax Audit Report

ITAT Ahmedabad deletes Rs. 10.09 lakh demonetisation cash deposit addition, holding Section 69A unjustified due to proper explanation.

ITAT Ahmedabad Deletes Rs. 10.09 Lakh Addition on Demonetisation Cash Deposits

ITAT holds that the delayed filing of the audit report in Form 10B is procedural, not mandatory, and the Section 11 exemption cannot be denied on this ground.

ITAT Rules Late Form 10B Filing Cannot Deny Section 11 Exemption; Tribunal Favours Assessee

The High Court said that nine days were too short, especially when the case involved transactions and various parties.

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IT Dept Intensifies Data-Driven Tax Scrutiny; Issues Bulk Notices After AIS, TIS and Form 26AS Mismatch Detection

IT Department Issues ‘Last Warning’ to MNC Employees on Undisclosed Foreign Assets

ITAT Deletes Penalty on Share Broker for Failure to Submit Tax Audit Report

ITAT Ahmedabad Deletes Rs. 10.09 Lakh Addition on Demonetisation Cash Deposits

ITAT Rules Late Form 10B Filing Cannot Deny Section 11 Exemption; Tribunal Favours Assessee

9 Days Insufficient to Respond to 150-Page Report: High Court Remands Matter to AO