Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Condonation of delay in filing income tax return (ITR) - Rejection of application made u/s 119(2)(b) - The High court found that the PCIT's order lacked reasoning and did not fulfill the legislative mandate of Section 119(2)(b) of the Income Tax Act, which is designed to address genuine hardship. The court emphasized the importance of reasoned orders and, citing relevant judicial precedents, set aside the impugned order. The matter was remanded to the PCIT for fresh consideration.
Condonation of delay in filing income tax return (ITR) - Rejection of application made u/s 119(2)(b) - The High court found that the PCIT's order lacked reasoning and did not fulfill the legislative mandate of Section 119(2)(b) of the Income Tax Act, which is designed to address genuine hardship. The court emphasized the importance of reasoned orders and, citing relevant judicial precedents, set aside the impugned order. The matter was remanded to the PCIT for fresh consideration.
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TaxTMI 
TaxTMI 
of 4918 
