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...
Addition made under Section 69 on account of the difference in excess stock of 22 Kt Gold and Polki Jewellery was not justified as the total weight of items of 22KT Gold jewelry and 22KT Gold Polki jewelry was 36,943 gms, and as per the estimated value, the difference was merely 113.50 gms, which was 0.32%.
ITAT Kolkata held that education cess is not allowable expenditure under section 37(1) of the Income Tax Act.
Read the ITAT Pune order on Vijay Shriram Gundale’s appeal. Excess stock during survey deemed as business income, not other source income. Detailed analysis provided.
Explore the ITAT Delhi ruling in DCIT vs. Tapesh Tyagi case, clarifying that Section 115BBE doesn’t apply to surrendered income treated under Section 69A.
The ITAT Hyderabad quashes an addition under Section 115BBE due to an elderly assessee’s inability to recall income details within the specified time, highlighting the importance of considering age-related factors.
The ITAT Kolkata has deleted the penalty in Prem Kumar Goutam vs. DCIT, ruling that the AO cannot demand a Profit and Loss Account for Section 44AD income. Get the details.
ITAT Delhi held that commission taxed @2% of the amount of accommodation entries provided by the assessee has not been made on ad hoc basis, however, the same is as per prevailing market rate. Accordingly, the addition is sustained.
ITAT Delhi rules addition u/s 69A for excess jewelry during a search operation unsustainable as the assessee belonged to a wealthy family and received jewelry on occasions
Delhi High Court’s decision in PCIT Vs Avdesh Mishra for AY 2016-17: Assessing Officer’s addition for an unsecured loan duly substantiated by the assessee was deleted.
ITAT Ahmedabad held that rejection of books of accounts merely for not providing stock details in desired format and without bringing any corroborative material on record suggesting specific defect in the books of accounts is unjustified.
