The Tribunal upheld deletion of disallowance where the tax authority failed to produce direct evidence linking the taxpayer to any refund of alleged bogus political ...
A man's Rs 4 lakh donation to a political party for an 80GGC tax deduction was flagged as suspicious. The Income Tax Appellate Tribunal (ITAT) added Rs 40,000 to his income, noting the party provided ...
There is a thin line of difference between tax saving and tax evasion; and this is always tested when any person claims a deduction under section 80GGB/80GGC of the Income Tax Act, 1961. As per ...
The issue was whether revision is valid when political donations were not fully verified. The Tribunal held that failure to examine genuineness of donees justifies action under Section ...
Analysis of the information with the department showed that there is a vast mismatch between total deductions under section 80GGB/80GGC claimed by taxpayers in their ITRs as against the total receipts ...
The Income Tax department in Hyderabad has discovered new instances of tax manipulation after offering assessees a chance to rectify their returns. Individuals who initially claimed political ...
This stern action from the Income Tax Department came after they found several bogus bills claimed by several intermediaries under section 80GGC. This section of the Income Tax Act offers taxpayers a ...
Individual/Hindu Undivided Family taxpayers claimed the most tax benefits of Rs 1,995.04 crore on account of contributions to ...
Income Tax Department searched multiple locations in Andhra Pradesh and Telangana. The searches targeted intermediaries allegedly facilitating fraudulent income tax claims. These claims involved fake ...
During various search & seizure and survey operations conducted by Income Tax Department, it has come to notice that various individuals are claiming incorrect deductions, under sections 80C, 80D, 80E ...
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