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...
Pilani Industrial Corporation Limited Vs ACIT (ITAT Delhi) case analysis. The ITAT Delhi ruled that cash deposits during demonetization can’t be deemed unexplained without rejecting the books of account. Full text of the order included.
ITAT Chennai analyzes the applicability of Section 115BBE to seized cash and gold coins in the case of Uthangarai Sri Vidya Mandir Educational Trust. The trust argued that Section 115BBE applies only if no explanation is provided for the income.
ITAT Delhi confirms ACIT vs. Delhi Spot Bullion Trading Co. cash sales during demonetisation were legitimate, dismissing Revenue’s appeal.
Discover why ITAT Jodhpur ruled that cash deposits made by a 77-year-old assesse during demonetization couldn’t be added under section 68 of the Income Tax Act.
Understand the ITAT Bangalore ruling on Sudarshan Purushothama Vs ITO, where addition u/s. 69A of the Income Tax Act was contested regarding bank statement monies.
Read the full judgment/order of Madras High Court quashing an I-T assessment order adding Rs. 16Cr unexplained expenditure without reasonable time. Portal reopening ordered.
Appellant contended that since he had filed income tax returns under section 44AD of the Act, which does not require maintenance of books of account, section 69A was not applicable.
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.
