Income Tax : This FAQ guide explains the applicability of ITR forms, filing methods, due dates, penalties, and taxpayer obligations for AY 2026...
Income Tax : This guide explains when penalties can be imposed under various provisions of the Income-tax Act, 1961. It also outlines the appli...
Income Tax : ITAT Mumbai held that an addition under Section 69A cannot be sustained when the assessee is denied the opportunity to cross-exami...
Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : A large spousal gift exemption was denied due to failure in proving genuineness, creditworthiness, and source of funds. The ruling...
Income Tax : Bombay High Court held that non-compliance with Section 144B raised a jurisdictional issue requiring ITAT adjudication and set asi...
Income Tax : ITAT Allahabad held that estimating gross profit solely on the basis of the subsequent years GP rate is not justified after reject...
Income Tax : ITAT held that mere transfer of records cannot replace a valid transfer of jurisdiction under Section 127, rendering the assessmen...
Income Tax : ITAT Surat held that rural agricultural land falls outside Section 2(14), deleting capital gains and related additions....
Income Tax : ITAT remanded the matter after holding that the CIT(A) passed a non-speaking order without giving reasons or properly considering ...
Income Tax : CBDT has instructed tax officers to uniformly apply Sections 68 to 69D and Section 115BBE after a C&AG audit found inconsistencies...
The tribunal held that where key sales and purchase documents were not examined at assessment, the issue must be remanded. Cash deposit additions were set aside for fresh verification by the Assessing Officer.
Madras High Court held that Settlement Commission doesn’t possess power to change the head of income and convert the undisclosed portion of income into income u/s. 699B. Further, Settlement application is bound to be rejected once Settlement Commission arrives at the conclusion that full and true disclosure is not done.
No incriminating material showed payment over the registered consideration. The tribunal held that without independent evidence, the ₹1.52 Cr addition could not be sustained.
The issue was whether cash deposits during demonetisation could be taxed as unexplained. The Tribunal held that when sales are recorded in books, audited, and reflected in VAT returns, section 68 cannot be invoked on mere probability.
The issue was whether a loan can be treated as unexplained despite full repayment within the year. The Tribunal held that once receipt and repayment are proved through banking channels, section 68 cannot apply.
The issue was whether the appellate authority could delete a large unexplained investment without following Rule 46A. The Tribunal held that bypassing mandatory procedure invalidates the relief, and the matter must be re-examined.
The issue was whether cash found at a third party’s premises could be added in the assessee’s 153A assessment. The Tribunal held such additions invalid, ruling that proceedings must be initiated under section 153C.
ITAT held that refusal to admit evidence due to factory sealing and death of the assessee was unjustified and ordered fresh assessment after proper verification.
Delhi ITAT ruled that purchases from paper companies cannot be treated as normal business expenses under Section 37(1). Fraudulent transactions with no goods delivered attract unexplained expenditure taxation under Section 69C and 115BBE.
The Tribunal held that revision cannot be based on alleged lack of enquiry when detailed verification was already done. A mere change of opinion does not justify section 263 action.
