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...
ITAT Hyderabad held that reasoning given by CIT(A) for deletion of addition made u/s. 69A of the Income Tax Act by Assessing Officer towards cash payment is contrary to material on record and cannot be accepted.
Gujarat High Court held that addition under section 68 of the Income Tax Act towards bogus Long Term Capital Gains [LTCG] from sale of penny stock cannot be sustained since genuineness of the stock proved with evidence. Accordingly, appeal of revenue dismissed.
ITAT Visakhapatnam upholds additions for demonetisation deposits but rules tax under section 115BBE for AY 2017-18 should apply at 30% instead of 60%.
ITAT Hyderabad held that alleged discrepancy i.e, the suppression of the purchases/sales/closing stock based on distorted figures by AO resulting to an exorbitant addition is unsustainable in law. Accordingly, appeal of assessee allowed.
The ITAT Indore has remanded a tax case to the CIT(A), ruling that the short notice period given to the assessee violated natural justice and warrants a new hearing on the merits.
Income surrendered during survey and accounted as business income should not attract section 115BBE rates, clarifying application of sections 69, 69A, and 69B.
ITAT Ahmedabad confirmed that the unsecured loan of ₹80.94 lakh given by Mahadev Shipbreakers to KCPL was genuine, routed through banking channels, and repaid with interest and TDS. The Tribunal dismissed Revenue’s appeal, noting AO’s allegations were generalized and unsubstantiated.
The ITAT Nagpur has ruled that income surrendered during a survey from an excess stock of jewelry is business income, not an unexplained investment.
Relying on Malabar Industrial, Max India, and Gabriel India precedents, ITAT ruled that when two views are possible, PCIT cannot assume jurisdiction. Original assessment for AY 2020-21 was restored.
The Income Tax Appellate Tribunal (ITAT) Pune dismissed an appeal by the Income Tax Department, affirming that a cooperative credit society was not liable for unexplained cash credits under Section 68.
