Direct Tax
CBDT Extends Due Date For Furnishing Return Of Income In Case Of Assessee Who Is Required To Furnish Report For AY 2024-25
The Central Board of Direct Taxes (CBDT) has extended the due date for furnishing return of income in the case of an assessee who...
Income Tax On Compensation Paid To Land Loosers For Acquisition Of Their Lands: Karnataka High Court
The Karnataka High Court has held that income tax exemption is available on the compensation paid to land loosers for the acquisition of their...
Income Derived From Property In AY In Which Sale Deed Was Executed Would Be Taxable Irrespective Of Sale Deed Registration: Rajasthan High Court Quashes...
The Jaipur Bench of Rajasthan High Court while quashing the reassessment has held that income derived from property in Assessment Year (AY) in which...
Assessment Order Under Faceless Assessment Scheme Passed Without Show Cause notice Is Void: Bombay High Court
The Bombay high court has held that the assessment order under faceless assessment scheme passed without show cause notice is void.
The bench of Justice...
Provisions Of Section 153C Doesn’t Have Overriding Effect On Provisions Of Section 147 Of Income Tax Act, 1961: Delhi High Court
The Delhi High Court has held that provisions of section 153C does not have an overriding effect on provisions of section 147 of Income...
Pending Review Petition Filed By Assessee Against Dismissal Of SLP To Be Considered Pending Proceeding For The Purposes Of Direct Tax Vivad Se Vishwas...
The Delhi High Court has held that the pending review petition filed by the petitioner assessee against the dismissal of its special leave petition...
ITAT Quashes Revision Order Passed By PCIT Without Citing That Prior Approval U/S 153D Was Erroneous
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has quashed revision order passed by the Principal Commissioner of Income Tax (PCIT) without citing...
Delhi High Court Quashes S. 271(1)(c) Penalty Citing Absence Of Specific Charge In Notice
The Delhi High Court has quashed the penalty under Section 271(1)(c) of the Income Tax Act, 1961 citing absence of specific charge in notice.
The...