Income Tax News
The Delhi High Court bench of Justice Manmohan and Justice Subramonium Prasad has held that the taxpayer could not file a response under the Faceless Scheme due to a technical glitch in the e-filing portal.
The Delhi High Court has stayed the reopening of income tax assessments, keeping in view the credentials of Bharat Heavy Electricals Limited (BHEL)
ITAT said that the assessee is doing non-delivery-based transactions and in such case the turnover has to be determined on the basis of the net of sales and purchase of shares
ITAT has held that the expenditure incurred by the assessee as such on the replacement of wooden body of trucks has to be allowed fully against the income of the assessee in the current year.
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