Income Tax : The ruling clarifies that unauthenticated digital chats and screenshots cannot form the sole basis of tax additions without proper...
Income Tax : Judicial rulings clarify that satisfaction for initiating action against other persons in search cases must be recorded promptly. ...
Income Tax : Section 270A penalties must specify the exact misreporting clause. Vague notices invalidate penalties and can restore immunity und...
Income Tax : Understand the three core processes of Indian Income Tax: Rectification of mistakes (Sec 154), the four types of Assessment (Summa...
Income Tax : Understand your legal rights and procedural protections during Income Tax and PMLA raids in India. Learn what to do and what to a...
CA, CS, CMA : Legal opinion sought by NFRA on auditing standards, penalties, and regulatory roles in India. Analysis of NFRA’s powers under th...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Goods and Services Tax : The Ministry of Finance reports the arrest of a firm's finance head for GST evasion worth Rs 88 crore. Learn about the case and it...
Income Tax : The Central Board of Direct Taxes ( CBDT) has directed re-opening of all cases under the search and seizure label, income-escapin...
Income Tax : The ITAT Ahmedabad held that isolated WhatsApp messages and electronic communications cannot, by themselves, support additions in ...
Income Tax : ITAT Ahmedabad held that penalty under Section 43 of the Black Money Act could not be imposed when foreign assets were subsequentl...
Income Tax : The Hyderabad Bench emphasized that penalty under Section 271(1)(c) cannot be imposed solely because an addition survives appellat...
Income Tax : The Tribunal held that Section 263 cannot be invoked where the assessee never claimed the alleged expenditure as a deduction. With...
Income Tax : The Tribunal ruled that proportionate interest disallowance under Section 36(1)(iii) cannot be sustained when the assessee has ade...
Income Tax : Read the order issued by the Central Board of Direct Taxes (CBDT), Ministry of Finance, specifying the scope of the e-Appeals Sche...
Income Tax : Dispute arose between the Department and the assessees with regard to adjustment of such seized/requisitioned cash against advance...
ITAT Pune held that disallowance of interest paid on housing loan is upheld since assessee has failed to provide documentary evidence like loan sanction letter or bank certificate. Accordingly, ground raised by assessee is dismissed.
The issue was whether LTCG could be taxed in a search assessment without incriminating evidence for the year. The Tribunal held that, absent such material, additions under section 153A are unsustainable.
The Tribunal ruled that additions for alleged cash payments cannot survive when based solely on third-party statements and unverified electronic data. Absence of corroboration and denial of cross-examination violated principles of natural justice.
The dispute centered on jurisdiction to assess under Section 153A. The Tribunal clarified that Kabul Chawla principles do not bar additions in abated assessments and ordered a de novo assessment.
The approving authority merely stated that records were perused without demonstrating scrutiny. The Tribunal held that mechanical sanction defeats the statutory purpose and nullifies the assessment.
Additions under section 153A were deleted as they rested only on an unowned diary without proof of authorship or corroborative evidence. The ruling reinforces that suspicion cannot substitute proof in search cases.
Revenue issued 153C notices for years far preceding the satisfaction date. Following binding judicial precedent, the tribunal ruled that such assessments were beyond the ten-year statutory window and could not survive.
Delhi High Court held that application of income tax department for release of FDR towards tax liability not entertained until conclusion of trial under Prevention of Money Laundering Act, 2002 [PMLA] since PMLA has an overriding effect over the provisions of Income Tax Act.
Punjab and Haryana High Court held that transfer of case from Chandigarh to Panaji under section 127 of the Income Tax Act to centralize the assessment of all connected or linked persons at one place is justifiable. Accordingly, the present petition is dismissed.
Where income admitted in section 153C proceedings is accepted in assessment, penalty still requires strict compliance with section 270A. Absence of a specific misreporting charge defeats penalty levy.
