Early IRS data shows fewer tax returns processed and few refunds issued through Feb. 6, but the average refund amount is up.

The Tribunal held that once the return is accepted as valid under Section 139(1), denial of carry forward loss on belated filing grounds is contradictory and ...

The ITAT Kolkata held that where assessment is completed under Section 143(3), alleged earlier non-compliance with notices stands impliedly condoned. Penalty under Section 271(1)(b) was therefore ...