Tax Assessment Case
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Supreme Court Defers Hearing Of Income Tax Assessment Case Of Gandhis Till December 13
The Gandhis had opposed the transfer of their cases to the Central Circle on several grounds including that they have nothing to do with the Sanjay Bhandari group's cases.
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Centralised Assessment May Be Required If...: Supreme Court To Gandhis Over Tax Case
A centralised assessment may be required if there are cross transactions between individuals, the Supreme Court said on Tuesday while hearing the petitions filed by Congress leaders Sonia Gandhi, Rahul Gandhi and Priyanka Gandhi Vadra.
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Italy Begins Audit of Meta in Tax Case That Could Cost Facebook Parent $925 Million
Italy expects to take until the end of the year for an initial assessment of Facebook parent Meta in a tax case that could land the US company with a bill of around EUR 870 million ($925 million or roughly Rs. 7,611 crore) and prove a test case for the tech sector.
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Income Tax Case: No Coercive Action Against Flipkart Till February 24
Flipkart India had filed two writ petitions challenging the demand notices issued on January 31, 2023 for the assessment years 2016-17 and 2018-19.
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Rs 14,820 Crore Tax Demand Raised Under Black Money Law: Government
The government on Monday said it had raised a tax demand of Rs 14,820 crore after completing an assessment in 368 cases under the black money law dealing with undisclosed foreign income.
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TDS Refund Scam: CBI Registers Case Against 3 I-T Officials For Duping Department Of Crores
According to the department, the scam came to light when an assessing officer noticed the computation of refunds for assesses under section 154 of the I-T Act.
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Delhi High Court Begins Hearing Pleas By Gandhis, AAP Against IT Assessment Transfer
Transfer of an assessment to central circle of the Income Tax department is a black mark and can only be done in cases of search and seizure, senior advocate Arvind Datar told the Delhi High Court Thursday in petitions by three Congress leaders
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Budget 2021: Senior Citizens 75 Years And Above To Get Major Tax Exemption
Budget 2021: Time limit to reopen an assessment case would to be reduced to three years from the current six years
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Time Limit For Reopening Of IT Assessment Halved To 3 Years: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Monday reduced the time limit for reopening of income tax assessment cases to three years from six years, while for serious tax fraud cases where concealment of income is Rs 50 lakh or more it would be 10 years.
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No Need To Meet Taxman In Case Of Scrutiny Notice, Use Faceless Assessment: Income Tax Department
The I-T department has disposed of 7,116 cases under the first phase of the faceless assessment scheme
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Opinion: Reopening Of Tax Assessments And The NDTV Case
The Supreme Court held that the first proviso to section 147 did not apply. Consequently, the decision of the Delhi High Court was also reversed. While this was indeed a correct ruling, the most important issue in this case was not considered either by the Delhi High Court or the Supreme Court.
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I-T Department Tax Refunds Up At Rs 1.57 lakh Crore: Revenue Secretary
He said "By December 15, the advanced tax for Q3 will come and at that stage we will get an idea of what is going to be the impact of corporate tax reduction announced in September. Each company will assess how much tax they have to pay for the current year after adjusting the tax liabilities paid in first two quarters. After that only we will come...
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Income Tax Returns (ITR) Filing Deadline Ends Today. Ten Things To Know
The deadline for filing income tax returns for assessment year 2019-20 (financial year 2018-19) ends today. It is compulsory for individuals earning a specified amount of income in a year to file income tax return (ITR). An assessee who does not submit a return of income within the deadline is allowed to file a belated return at a later time. Howev...
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National Herald Case: Sonia Gandhi, Rahul Gandhi Seek Adjournment Of Appeals
UPA Chairperson Sonia Gandhi and Congress president Rahul Gandhi on Friday sought the adjournment of appeals filed in the Supreme Court challenging the Income Tax department's decision to re-open tax assessment related to the National Herald and Young India transactions.
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Top Court Informed Of Assessment Order On Rahul, Sonia Gandhi's Taxes
The Income Tax department informed the Supreme Court Tuesday that an assessment order (AO) with respect to the tax of Rahul Gandhi and Sonia Gandhi for 2011-12 in connection with the National Herald case has been passed but not being given effect.
-
Supreme Court Defers Hearing Of Income Tax Assessment Case Of Gandhis Till December 13
The Gandhis had opposed the transfer of their cases to the Central Circle on several grounds including that they have nothing to do with the Sanjay Bhandari group's cases.
-
Centralised Assessment May Be Required If...: Supreme Court To Gandhis Over Tax Case
A centralised assessment may be required if there are cross transactions between individuals, the Supreme Court said on Tuesday while hearing the petitions filed by Congress leaders Sonia Gandhi, Rahul Gandhi and Priyanka Gandhi Vadra.
-
Italy Begins Audit of Meta in Tax Case That Could Cost Facebook Parent $925 Million
Italy expects to take until the end of the year for an initial assessment of Facebook parent Meta in a tax case that could land the US company with a bill of around EUR 870 million ($925 million or roughly Rs. 7,611 crore) and prove a test case for the tech sector.
-
Income Tax Case: No Coercive Action Against Flipkart Till February 24
Flipkart India had filed two writ petitions challenging the demand notices issued on January 31, 2023 for the assessment years 2016-17 and 2018-19.
-
Rs 14,820 Crore Tax Demand Raised Under Black Money Law: Government
The government on Monday said it had raised a tax demand of Rs 14,820 crore after completing an assessment in 368 cases under the black money law dealing with undisclosed foreign income.
-
TDS Refund Scam: CBI Registers Case Against 3 I-T Officials For Duping Department Of Crores
According to the department, the scam came to light when an assessing officer noticed the computation of refunds for assesses under section 154 of the I-T Act.
-
Delhi High Court Begins Hearing Pleas By Gandhis, AAP Against IT Assessment Transfer
Transfer of an assessment to central circle of the Income Tax department is a black mark and can only be done in cases of search and seizure, senior advocate Arvind Datar told the Delhi High Court Thursday in petitions by three Congress leaders
-
Budget 2021: Senior Citizens 75 Years And Above To Get Major Tax Exemption
Budget 2021: Time limit to reopen an assessment case would to be reduced to three years from the current six years
-
Time Limit For Reopening Of IT Assessment Halved To 3 Years: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Monday reduced the time limit for reopening of income tax assessment cases to three years from six years, while for serious tax fraud cases where concealment of income is Rs 50 lakh or more it would be 10 years.
-
No Need To Meet Taxman In Case Of Scrutiny Notice, Use Faceless Assessment: Income Tax Department
The I-T department has disposed of 7,116 cases under the first phase of the faceless assessment scheme
-
Opinion: Reopening Of Tax Assessments And The NDTV Case
The Supreme Court held that the first proviso to section 147 did not apply. Consequently, the decision of the Delhi High Court was also reversed. While this was indeed a correct ruling, the most important issue in this case was not considered either by the Delhi High Court or the Supreme Court.
-
I-T Department Tax Refunds Up At Rs 1.57 lakh Crore: Revenue Secretary
He said "By December 15, the advanced tax for Q3 will come and at that stage we will get an idea of what is going to be the impact of corporate tax reduction announced in September. Each company will assess how much tax they have to pay for the current year after adjusting the tax liabilities paid in first two quarters. After that only we will come...
-
Income Tax Returns (ITR) Filing Deadline Ends Today. Ten Things To Know
The deadline for filing income tax returns for assessment year 2019-20 (financial year 2018-19) ends today. It is compulsory for individuals earning a specified amount of income in a year to file income tax return (ITR). An assessee who does not submit a return of income within the deadline is allowed to file a belated return at a later time. Howev...
-
National Herald Case: Sonia Gandhi, Rahul Gandhi Seek Adjournment Of Appeals
UPA Chairperson Sonia Gandhi and Congress president Rahul Gandhi on Friday sought the adjournment of appeals filed in the Supreme Court challenging the Income Tax department's decision to re-open tax assessment related to the National Herald and Young India transactions.
-
Top Court Informed Of Assessment Order On Rahul, Sonia Gandhi's Taxes
The Income Tax department informed the Supreme Court Tuesday that an assessment order (AO) with respect to the tax of Rahul Gandhi and Sonia Gandhi for 2011-12 in connection with the National Herald case has been passed but not being given effect.
