Income Tax can not be recovered from Employee if Employer failed to deposit TDS : High Court Summary The petitioner having accepted the salary after deduction of income tax at source had no further control over it in the sense that thereafter it was the duty of his employer acting as tax collecting agent of… Read More »
Direct Tax collections at 80.61% of total Budget Estimates of Direct Taxes for F.Y. 2023-24 upto 10.01.2024 Gross Direct Tax collections at Rs. 17.18 lakh crore with Y-o-Y growth of 16.77%, as on 10th January, 2024 Direct Tax collection, Net of refunds stands at Rs. 14.70 lakh crore with Y-o-Y growth of 19.41% Net Corporate… Read More »
Income Tax notice can be issued based on Material available on records of Income Tax department : High Court Summary The entire material, which has been collected by the authority, does not contain any material to even remotely suggest that the total income which according to them escaped assessment is more than Rs. 50,00,000/-. The… Read More »
Income Tax Notice not valid as approval not taken from Principal Chif commissioenr Bombay High Court Satisfaction of Additional Commissioner, Range 3(2), Mumbai has been obtained whereas under section 151, the sanction for re-opening an assessment beyond the period of four years should have been of the concerned Principal Chief Commissioner or Chief Commissioner or… Read More »
NRI not required to disclose any Asset held outside India in ITR : ITAT IN THE ITAT MUMBAI BENCH ‘I’ Ms. Amrita Jhaveri v. Deputy Commissioner of Income-tax (IT)* AMIT SHUKLA, JUDICIAL MEMBER AND S. RIFAUR RAHMAN, ACCOUNTANT MEMBER IT APPEAL NOS. 6095 & 6096 (MUM.) OF 2016 [ASSESSMENT YEARS 2006-07 & 2007-08] MAY 9, 2023… Read More »
Income tax Notice not sent on registered email Id hence not valid Karnatka High Court The contention raised on behalf of the petitioner deserves acceptance to the extent that notice ought to have been issued to the Email ID furnished at Annexure-‘D’ and not otherwise. The notices sent to the Email ID which is not… Read More »
Notice to be issued Physically if registered email ID not available : bombay HIGH COURT HIGH COURT OF BOMBAY Fayeza Muffadal Contractor v. National Faceless Assessment Centre K.R. SHRIRAM AND NEELA GOKHALE, JJ. WRIT PETITION NO.3937 OF 2022 OCTOBER 31, 2023 Devendra H. Jain, Ashwin Jain and Ms. Radha Halbe for the Petitioner. Suresh Kumar for the Respondent. ORDER Petitioner is impugning… Read More »
Income Tax Notice issued without Struck off of irrelevant matters is not valid : High Court Therefore, it is clear from the law as laid down that if one of the irrelevant matters is not struck off, it would mean that AO himself was not sure while issuing the show-cause notice whether he had proceeded… Read More »
No reassessment after 3 years to tax entire capital gain as 100% TDS was deducted in assessee’s name due to co-owner lacking PAN Held Given the details of the payment of the sale consideration of Rs.69,30,000/- as set forth in the Sale Deed dated 13.04.2015, cannot dispute that the entire consideration is received by the… Read More »
Income Tax Department conducts search operations in Mumbai Posted On: 10 JAN 2024 8:06PM by PIB Delhi Income Tax Department initiated search and seizure operations in the case of a group, engaged in the manufacturing of wires and cables and other electrical items on 22.12.2023. Some of the authorised distributors of the group were also… Read More »