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 Ahmedabad held that taxing entire unaccounted cash receipts or on-money receipts not justified as only profit embedded in such receipts is taxable. Accordingly, AO directed to adopt 13% profit margin on real estate business and tax accordingly.
ITAT Jabalpur rules on excess stock as undisclosed income and sets tax rates for survey income and cash credits, citing Vatika Township precedent.
ITAT Raipur held that in case of bogus/ sham transactions it is the responsibility of revenue authorities to investigate and decide that whether bogus transactions fall within the category of tax planning or tax evasion. Accordingly, matter restored back to AO for fresh consideration.
ITAT Mumbai held that the addition in respect of bogus purchases is to be limited to the extent of bringing the gross profit rate on such purchases at the same rate as of other genuine purchases. Accordingly, matter restored to file of AO with direction to restrict addition.
ITAT Jaipur held that addition towards unexplained money under section 69A of the Income Tax Act merely on the basis of statement which was subsequently retracted is not sustainable in law. Accordingly, addition is directed to be deleted.
Delhi ITAT partially allows Rohit Goel’s appeal against ACIT, addressing unexplained cash deposits, out-of-book purchases, and assessing income based on bank credits.
ITAT Surat rules cash in real estate business isn’t automatically unexplained for demonetization deposits. Reduces ₹7.54L addition, cites Supreme Court on cash balances.
The ITAT Delhi partially allowed the Revenue’s appeal against Rai Bahadur Narain Singh Sugar Mills Ltd, making a lump-sum addition of ₹5 lakh for unexplained cash deposits during demonetization.
The ITAT Pune has set aside an income tax addition of Rs. 41 Lakh in demonetized notes for Dashrath Kisanrao, remanding the case to the AO for fresh verification of bank deposit certificates.
ITAT Raipur rules in favor of Asha Soni, vacating a Rs. 35 lakh unexplained cash credit. The court found that Section 68 additions cannot be made if no books of accounts are maintained.
