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...
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.
Addition made under Section 69 on account of the difference in excess stock of 22 Kt Gold and Polki Jewellery was not justified as the total weight of items of 22KT Gold jewelry and 22KT Gold Polki jewelry was 36,943 gms, and as per the estimated value, the difference was merely 113.50 gms, which was 0.32%.
ITAT Kolkata held that education cess is not allowable expenditure under section 37(1) of the Income Tax Act.
