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 case examined whether compensation paid to exit prior agreements was a sham arrangement. The Tribunal ruled it was a valid bus...
Income Tax : The Tribunal held that an unsigned agreement without corroboration cannot be treated as incriminating material. Proceedings under ...
Income Tax : The Tribunal deleted additions where the Revenue failed to prove actual cash transactions. It emphasized that suspicion and assump...
Income Tax : The Tribunal held that loan repayment cannot be treated as unexplained cash credit under section 68. The addition was deleted as i...
Income Tax : Reassessment proceedings was invalid for a notice issued beyond three years without the sanction of the prescribed higher authorit...
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...
The Tribunal quashed the reassessment as the notice issued beyond three years failed to satisfy mandatory conditions under Section 149(1)(b). It held that absence of proper jurisdictional facts and compliance rendered the reopening invalid.
Section 69C addition of ₹1.10 crore deleted as pen drive data lacked valid 65B certificate; ITAT Hyderabad held third-party digital evidence inadmissible without corroboration.
The Tribunal clarified that mere search under Section 132 does not automatically justify reopening. The AO must demonstrate year-specific escapement of income and follow mandatory approval procedures.
ITAT Hyderabad held that the assessment was barred by limitation under Section 153. Only the actual period lost during search proceedings could be excluded, not the full 180 days.
ITAT Lucknow held that additions under Section 68 in search cases cannot be made without incriminating material found during search. Penny stock LTCG additions were deleted and departmental appeals dismissed.
The Tribunal held that failure of the Assessing Officer to verify genuineness of a ₹30 lakh donation under Section 80GGC rendered the assessment erroneous and prejudicial to revenue, justifying revision under Section 263.
ITAT Mumbai deleted ₹2 crore additions, holding assessment based solely on third-party investigation report and assumed 3% commission unsustainable without independent evidence or proof under Sec 69A.
The Tribunal ruled that long-term capital gains treated as bogus could not be added in a completed assessment year absent search-based incriminating evidence. Investigation reports alone were held insufficient.
ITAT Mumbai quashed 143(3) order post-search, deleted ₹96.77L suppressed sales addition, allowed Sec 37(1) expenses & CWIP write-off as revenue in 153A assessment.
The Tribunal found repeated factual errors in recorded reasons and notices. As the reopening lacked live nexus with escapement of income, it was struck down as a nullity.
