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...
ITAT Delhi held that addition made under section 153A of the Income Tax Act are bad-in-law in absence of any incriminating material found during the course of search. Accordingly, assessment order quashed.
Delhi High Court held that since AY 2012-13 falls beyond the block of ten years that are required to be reckoned from the end of the AY 2022-23 assuming jurisdiction u/s. 153C in respect of AY 2012-13 is invalid. Accordingly, appeal of revenue dismissed.
ITAT Ahmedabad held that addition under section 69A of the Income Tax Act not sustained since three key ingredients i.e. identity, genuineness and creditworthiness of parties being proved. Accordingly, appeal of assessee allowed.
ITAT Delhi held that mere confession of accused cannot be a ground for conviction since the same is not supported by credible evidence on records. Accordingly, addition under section 69 of the Income Tax Act deleted.
ITAT Delhi held that reopening of assessment under section 148 of the Income Tax Act based on incorrect facts and incorrect recording of reasons is invalid and bad-in-law. Accordingly, reopening is liable to be quashed.
Patna High Court grants bail to an accused in an alleged ₹33 crore GST invoice scam, citing lack of proper evidence for arrest.
Calcutta High Court held that seizure of jewellery is valid since legitimacy of jewellery not substantiated; discrepancies are found in documentation and weight and there was reasonable belief of potential wrongdoing.
The JDA was signed between one Mr. U.K. Hasanabba and Mr. U. Ibrahim on one side as landowners and Mr. Abdul Khader K (on behalf of the assessee) and Mr. K. Hussain Abbas (on behalf of the HNGC Builders and Developers).
ITAT Nagpur held that addition towards unexplained expenditure u/s. 69C of the Income Tax Act not warranted since the same are already covered in declaration of income hence no separate additions warranted.
Bombay High Court held that Court cannot exercise its discretionary jurisdiction to restrain income tax officers from proceedings with assessment proceedings where huge unaccounted income in accommodation entry has been detected.
