Income Tax : Explore the intricacies of gold taxation in India, covering physical gold, paper gold, gold derivatives, inheritance tax, and comp...
Income Tax : Unlock the intricacies of Section 68 of the Income Tax Act, unraveling the nuances of unexplained cash credits. Delve into its ame...
Income Tax : Explore the implications of taxation under section 115BBE, including misuse of sections 68 to 69D, consequences of high tax rates,...
Income Tax : Merely because certain cash was deposited in the specified bank notes by the assessee during the demonetization period will not ma...
Income Tax : Discover the ITAT Chennai verdict on Santhilal Jain Vijay Kumar Vs ITO, addressing taxation on excess stock and unexplained marria...
Income Tax : If AO adopts a plausible view, even if two views are possible, the assessment cannot be deemed erroneous merely because the PCIT h...
Income Tax : Understand Parmod Singla Vs ACIT (ITAT Chandigarh) case on excess stock surrendered during survey and its tax implications under ...
Income Tax : Read the detailed analysis of the ITAT Chandigarh verdict on DDK Spinning Mills vs DCIT, focusing on the implications of Section 6...
ITAT upholds PCIT’s decision on erroneous assessment orders in tax evasion case. Changela’s appeals dismissed as inadequate inquiries led to erroneous orders.
ITAT Delhi held that that cash sales that is already offered as income cannot be taxed in the grab of inflation sales to cover up demonetization currency. Accordingly, addition u/s. 68 of the Income Tax Act directed to be deleted.
Kerala High Court orders Alka Ventures Pvt Ltd to pay 12 crore as advance tax for appeal against assessment order. Details of the judgment provided.
Indore ITAT ruling in Mohammad Ibraheem Khatri vs ITO case highlights that depositing cash after demonetization is not a reason to doubt cash availability.
Naresh Chandra Kalwani Vs PCIT case discusses excess stock, business assessment, and the applicability of section 69/69A/115BBE under Income-tax Act.
Delhi High Court held that benefit of deduction under section 80IC of the Income Tax Act available even in case of addition of unsubstantiated share capital into the account of the assessee under Section 68 of the Act.
Read the full text of the ITAT Bangalore order on Aijaz Ahmed Suri Vs ITO regarding demonetization deposits. Analysis and conclusion included.
Read the full text of the order of ITAT Bangalore regarding the dispute between BMM Ispat Limited and ACIT over unsecured loan sources. Detailed analysis and conclusion provided.
ITAT Kolkata scrutinized the provisions of section 56(2)(x) of the Income Tax Act, 1961, and observed that the AO had not considered the stamp duty valuation of the property on the date of agreement, which was in 2015. As per the proviso to the section, the stamp duty value on the date of agreement should have been taken into account.
ITAT Chandigarh held that excess stock found during the course of survey cannot be brought to tax under the deeming provisions of section 69B of the Income Tax Act as the same is undeclared business income and not unexplained investment.
