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 ITAT Delhi upheld the deletion of a ₹39.83 crore addition to Santosh Trust, ruling that its cash deposits during demonetization were explained by regular fee collections
ITAT Delhi: Cash deposits in a dissolved firms bank account are taxable only in the proprietors hands, not the partnerships. The protective addition was deleted.
Mumbai ITAT rules cash withdrawn before demonetization is not unexplained, deleting a ₹23 lakh addition. The tribunal partly upheld the disallowance of agricultural income.
Jai Prakash Virmani Vs DCIT/ACIT (ITAT Delhi) ITAT Delhi Holds Additional Income Applied Towards House Construction Cannot be Taxed Again as Unexplained Investment – Section 69 & 115BBE Not Applicable A survey u/s 133A was conducted at Assessee’s business premises on 23.01.2019. Loose papers indicating cash withdrawals & expenditure on construction of house were impounded. […]
ITAT Delhi: Addition on expensive watches deleted. The court held they belonged to the entire Kochar family, and possession was consistent with their status.
Chhattisgarh High Court rules cash-in-hand from a preceding year’s balance sheet cannot be taxed as unexplained money under Section 69A in a subsequent year.
The ITAT has remanded a tax appeal to the CIT(A) for a fresh review after the assessee’s submissions regarding excess stock were not considered in an ex-parte order.
Gujarat High Court upholds deletion of ₹11.57 crore addition, ruling that repayment of loan within the same financial year proves its genuineness.
A summary of the ITAT Kolkata ruling in the case of Laxmi Agarwal, a doctor, where the tribunal quashed a 60% tax levy on cash deposits.
The ITAT Pune ruled that excess cash found during a business survey should be taxed as normal business income, not at the higher rate under Section 115BBE.
