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 Visakhapatnam has directed the Income Tax Officer to verify the source of a Rs. 24 lakh cash deposit made during demonetization by Tripuraneni Sarada Devi.
A Comprehensive Analysis of Undisclosed Incomes under Sections 68 to 69D of the Income-tax Act, 1961, Taxation of these Incomes Under Section 115BBE and Penalty Provisions under Sections 271AAC & 271AAD With Insights on Explained vs. Unexplained Income, Judicial Precedents & Finance Act, 2025 Amendments 1. Introduction & Legal Context. The robust and equitable functioning […]
Ahmedabad ITAT directs tax authorities to re-verify V N Exports’ books for demonetization cash deposits, citing prior rulings on cash sales by jewelers. A key verdict on unaccounted income.
ITAT Mumbai confirms Rs. 12 lakh unexplained cash addition for assessee with multiple PANs, citing insufficient evidence for deposit sources.
ITAT Jaipur held that addition under section 68 towards cash deposit in bank as unexplained cannot be sustained since source of cash deposited duly explained. Accordingly, addition of around Rs. 8.60 Crores deleted.
ITAT Ahmedabad deletes Rs. 15 lakh cash deposit addition during demonetization, finding assessee established source through prior bank withdrawals.
Non-compliance due to overseas employment leads to ITAT remanding Rs. 1.9 crore tax matter for fresh adjudication, offering assessee a new hearing opportunity.
Pune ITAT remands Sahyogh Nagri Sahkari Patsanstha Maryadit’s appeal, ruling non-payment of advance tax alone cannot dismiss an appeal; directs re-adjudication on merits.
ITAT Indore held that there is no authority to deny exemption u/s. 10(23C)(vi) for non-filing return since 20th Proviso to section 10(23C) denying exemption for non-filing return u/s. 139(4C) came to statue from AY 2023-2024 only.
Mumbai ITAT rules excess stock found during survey, when linked to business, is undeclared business income, not unexplained investment, thus avoiding Section 115BBE.
