Income Tax : Section 115BBE imposes a high tax rate on unexplained income to prevent tax evasion. Learn about tax rates, penalties, and complia...
Income Tax : The Sections by which the assessees are suffering too much due to high pitched assessments passed by NFAC are from 68 to 69D and 1...
Income Tax : Learn about Income Tax Returns (ITR) forms for different taxpayers, filing methods, and requirements. Includes details on ITR-1, I...
Income Tax : Learn about penalty provisions under the IT Act, including penalties for defaults in tax payment, income reporting, and more. Key ...
Income Tax : Explore the intricacies of gold taxation in India, covering physical gold, paper gold, gold derivatives, inheritance tax, and comp...
Income Tax : Additional income offered by assessee on account of cash and excess stock is liable to be taxed as business income and not unexpla...
Income Tax : ITAT Chennai rules bad debt recovery as business income, deleting Rs. 1 crore addition under Section 69A. Read full details on the...
Income Tax : ITAT Jaipur held that addition of the amount already recorded as cash sales cannot be treated as unexplained cash deposits under s...
Income Tax : ITAT Lucknow held that addition by calculating sales on hypothetical basis and completely ignoring various evidences submitted dur...
Income Tax : ITAT Chennai held that addition under section 69A of the Income Tax Act towards unexplained money not legally sustainable since na...
ITAT Bangalore rules in favor of Minority Co-op. Credit Society Ltd. on interest income deduction under section 80P(2)(d) from unlicensed co-op bank investments for AY 2017-18.
Explore the ITAT Rajkot’s detailed analysis of Vaidya Realities vs PCIT case under Section 263, highlighting the AO’s assessment, PCIT’s concerns, and the final verdict.
Explore the legal intricacies as ITAT Mumbai delves into the dispute over undisclosed income, cash receipts, and the application of Section 69A in the case of Madhu Developers
Dive into the recent ITAT judgment on Sec 69B & 115BBE, exploring the treatment of unrecorded stock in a business survey. Analysis of AO, CIT(A), and ITAT perspectives.
ITAT Bangalore directs re-evaluation of ex-parte assessment order on alleged bogus purchases by Kalu Singh. Detailed analysis and implications of the decision.
ITAT Mumbai held that documents seized from employees cannot be considered as having any evidentiary value and cannot be considered to have trustworthiness, since no other corroborative material was brought on record to support the veracity of the same. Hence, documents seized from employees cannot be relied upon for denying exemption u/s 11.
ITAT Chennai’s in Ethiraj Hotel Mart Vs DCIT held that as assessee declared excess stock as business income and provided a plausible explanation for its source, it should be taxed as ‘normal business income’ and not as ‘unexplained investment’ under section 69B.
Madras High Court quashes non-speaking order of NFAC in appeal against Section 115BE addition. Full text analysis of judgment and implications.
ead about the Rajasthan High Court’s decision quashing an income tax notice under Section 148A for being barred by limitation. Case details of Bijendra Singh vs ITO.
Explore the Delhi High Court’s decision on Triveni Enterprises Limited vs ITO. Learn why the court upheld Section 115BBE of the Income Tax Act, dismissing fears of misuse as grounds for unconstitutionality.
