The writ petition filed by the assessee was dismissed by the High Court as the assessee could not take advantage of a mere technical mistake in the order passed under section 148A(d). The assessee had filed a return with the email id ‘jvgsurana@gmail.com‘, and the Assessing Officer had sent a notice under section 148A(b) to …
The Bombay High Court has raised concerns over refund delays at the Centralized Processing Center (CPC) and has demanded an explanation for the situation. In response to a writ petition challenging the non-processing of a refund despite a rectification order that revised the total income to match the income declared by the Assessee, the High …
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The scope of inquiry under section 148A(d) is limited to the availability of information indicating that income has escaped assessment. In a particular case, an individual assessee filed his income tax return, declaring purchases of arecanut (supari) from entities ‘K’ and ‘O’. Subsequently, the Assessing Officer issued a notice to the assessee under section 148A(b), …
The Delhi High Court has ruled that the Income Tax Act takes precedence over the MSMED Act in a dispute regarding special audit fees between a Chartered Accountant (CA) firm and the Income Tax Department. The Revenue filed a writ petition challenging the directions for arbitration issued by the Micro and Small Enterprise Facilitation Council …
In the case of Mohamed Ibrahim v. ITO (International Taxation), a non-resident assessee had sold two properties and utilized the capital gains to purchase a new property. The Assessing Officer disallowed the payment made by the assessee for painting the building, installing grills and gates, and undertaking masonry and tiles works due to lack of …
Introduction The deadline for filing your Income Tax Return (ITR) for the year 2022-2023 is fast approaching, with only 23 days remaining until July 31, 2023. As a responsible citizen, it is crucial to fulfill your tax obligations within the stipulated time frame to avoid penalties and unnecessary complications. This article aims to provide you …
Introduction As the clock ticks away, signaling the approach of the annual income tax return filing deadline, it’s essential for salaried employees to understand the importance and advantages of timely filing. The due date of 31st July looms just 25 days ahead, and for individuals earning a salary, complying with this obligation can unlock a …
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Introduction: As we approach the end of another financial year, it’s time to shift our focus to the important task of filing income tax returns (ITR). With only 25 days left until the deadline on 31st July 2023, it’s crucial to take action and file your ITR promptly. In this article, we will explore the …
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Introduction Filing Income Tax Returns (ITR) is an essential obligation for both salaried individuals and businesses in Gurgaon. However, the intricacies of tax laws, frequent changes in regulations, and the need for accurate documentation can make the process overwhelming. In such circumstances, Chartered Accountant (CA) firms in Gurgaon play a pivotal role in providing expert …
Introduction: As another financial year begins, it’s crucial to familiarize ourselves with the income tax saving strategies and provisions applicable for the assessment year (AY) 2023-24. By optimizing our tax planning, we can make the most of the deductions and exemptions provided by the government. This article aims to provide you with a comprehensive guide …
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