Judgement

HC quashed reassessment notices holding that proceedings can’t be reopened on identical issues already examined in earlier reassessment u/s 147, and remanded the case for fresh hearing

Delhi HC Quashes Reassessment Notice; Identical Issue Already Examined in Earlier 147 Proceedings

The ITAT Cochin cancelled a Rs. 2.2 lakh penalty on a retired employee, ruling that claiming higher gratuity exemption in good faith did not amount to misreporting of income.

ITAT Cochin Deletes Penalty of Rs. 2.20 Lakh for Gratuity Exemption Claim Filed in Good Faith

ITAT Cochin Deletes Penalty for Incorrect Gratuity Exemption Claim Filed in Good Faith

The ITAT ruled in favour of a retired government officer, deleting unjustified additions made for cash deposits during demonetisation, citing valid explanations from gratuity and loan repayments.

ITAT Quashes Income Tax Addition for Cash Deposits During Demonetisation; Retired Officer Wins Relief

Notifications

CBDT has notified Karnataka Housing Board for income tax exemption under Section 10(46A) of Income-tax Act, effective from Assessment Year 2024-25.

CBDT Issues Notification Granting Tax Relief to Karnataka Housing Board

The Tribunal held that the order dated 02.03.2022 is bad in law and the adjustment made in the order issued under Section 154 is beyond the scope of the provisions of Section 154.

ITAT Quashes Rectification Order for Being Beyond the Scope of Section 154

News

IT Dept has withdrawn its long-pending Rs. 8,500 crore transfer pricing case against Vodafone India, ending a decade-old tax dispute after years of legal inactivity.

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Delhi HC Quashes Reassessment Notice; Identical Issue Already Examined in Earlier 147 Proceedings

ITAT Cochin Deletes Penalty for Incorrect Gratuity Exemption Claim Filed in Good Faith

ITAT Quashes Income Tax Addition for Cash Deposits During Demonetisation; Retired Officer Wins Relief

CBDT Issues Notification Granting Tax Relief to Karnataka Housing Board

ITAT Quashes Rectification Order for Being Beyond the Scope of Section 154

Income Tax Department Withdraws Rs. 8,500 Crore Tax Case Against Vodafone India