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 Indore rules surrendered excess stock found during survey is business income, not unexplained investment under Section 69B, thus bypassing Section 115BBE higher tax rates.
ITAT Nagpur held that short charging of rent from the trustee cannot be reason for denial of entire claim of exemption under section 11 of the Income Tax Act. Accordingly, order of CIT(A) upheld and appeal of revenue dismissed.
ITAT Pune allows appeal, directs normal tax rates for business income declared during survey, overriding Section 115BBE application. Cites key judicial precedents.
ITAT Allahabad held that renting out of property on day-to-day basis and providing certain facilities to those who would be taking premises on rent seems to be an organized activity of composite nature. Hence, income from the same is treated as business income.
ITAT Pune rules excess stock found at Kolhapur Timber during survey is business income, not unexplained, directing normal tax rates. Cites multiple precedents.
ITAT Pune rules excess stock declared during survey is business income, not unexplained income under 115BBE, if linked to regular business activities.
ITAT Indore rules excess stock surrendered during survey by Suresh Aluminium is business income, not unexplained, directing normal tax rates. Cites key precedents.
ITAT Pune ruled for Yash Construction Co., holding that declared income during survey, if linked to business, cannot be taxed at higher rates under Section 115BBE.
ITAT Pune rules for Late Harilal Mavjibhai Patel, confirming excess stock found during survey is business income, not subject to higher tax rates under Section 115BBE.
ITAT Jaipur dismisses appeals by Chandalal Verma, confirming income additions for AY 2011-12 and 2017-18, citing Section 292C presumption on seized documents.
