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 : ITAT held spousal gift taxable under Section 68 due to lack of evidence on genuineness, bank trail, and donor capacity despite Sec...
Income Tax : This covers how unexplained credits and investments are taxed under Sections 68 to 69D. The key takeaway is that additions require...
Income Tax : The ITAT Amritsar held that a valuation report by itself cannot justify addition under Section 69 without evidence of extra paymen...
Income Tax : The ITAT held that stamp duty valuation could not be blindly adopted where the property was affected by BBMP demolition proceeding...
Income Tax : The Tribunal held that agricultural land situated beyond notified municipal limits is not a capital asset under the Income Tax Act...
Income Tax : ITAT Ahmedabad held that no unexplained investment addition could survive where the booked property deal was cancelled and funds w...
Income Tax : ITAT Delhi held that penalty under Section 271AAC cannot survive once the underlying Section 153C assessment is quashed. The Tribu...
In the Satishbhai Kadvabhai Sarvaiya Vs ITO case, ITAT Rajkot rules that during demonetization, deposits don’t warrant addition under U/s 69A if adequately explained.
Hyderabad ITAT grants additional opportunity to taxpayer to explain nature & source of cash deposits made during demonetization. Read full text.
Explore the intricacies of gold taxation in India, covering physical gold, paper gold, gold derivatives, inheritance tax, and compliance measures.
In DCIT vs. CDS Infra Projects Limited, ITAT Delhi ruled no addition under section 68 of Income Tax Act if proper evidence for source of share capital subscription is submitted.
Discover the conditions for issuance of a reassessment notice u/s 153A beyond six years & explore the detailed analysis of ACIT Vs Goldstone Cements Ltd. (ITAT Kolkata) case.
ITAT upholds PCIT’s decision on erroneous assessment orders in tax evasion case. Changela’s appeals dismissed as inadequate inquiries led to erroneous orders.
ITAT Delhi held that that cash sales that is already offered as income cannot be taxed in the grab of inflation sales to cover up demonetization currency. Accordingly, addition u/s. 68 of the Income Tax Act directed to be deleted.
Kerala High Court orders Alka Ventures Pvt Ltd to pay 12 crore as advance tax for appeal against assessment order. Details of the judgment provided.
Indore ITAT ruling in Mohammad Ibraheem Khatri vs ITO case highlights that depositing cash after demonetization is not a reason to doubt cash availability.
Naresh Chandra Kalwani Vs PCIT case discusses excess stock, business assessment, and the applicability of section 69/69A/115BBE under Income-tax Act.
