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...
Delhi HC sets aside Sec 153C notices against Ishita Varshney Jain. WhatsApp image of unrelated Agreement to Sell found on husband’s phone insufficient ground.
Delhi High Court held that section 153C of the Income Tax Act doesn’t required AO to find or uncover a relationship or an association between the searched and the non-searched person.
ITAT Delhi held that addition merely on the basis of entries found in the seized diary without any corroborative evidence and without any independent enquiry by AO is not sustainable. Accordingly, addition made by AO is deleted.
ITAT Chennai rules unaccounted customer deposits, with traceable identities and commercial substance, are liabilities, not income under Section 68.
Rajasthan High Court held that initiation of proceedings under section 153C of the Income Tax Act based on WhatsApp chats with specific inputs cannot be said to be vague or hit by the strict parameters of Section 153C of the Income Tax Act.
There are absolutely no credible and reliable evidences to establish that entire loans in cash were from the undisclosed funds whereas loan in cheques were accepted to be that of person other assessee and his role as a conduit or a mere intermediary was established.
ITAT Delhi held that the approval granted u/s. 153D in the nature of a ‘technical approval’ in symbolic exercise of powers under s. 153D. Hence, the consequential assessment orders based on such repugnant approval under s. 153D is bad in law in tune with earlier years.
The entire procedure subsequent to obtaining further information, documents or evidence has not been gone through in case of the Petitioner, and straightaway, the impugned assessment has been finalized.
ITAT Nagpur held that addition made on the basis of dumb documents, loose paper containing scribbling, rough/vague noting’s in the absence of any corroborative material is not tenable in law. Thus, appeal of revenue dismissed.
Madras High Court held that re-opening of assessment u/s. 147 must be based on some tangible material without such tangible material, re-opening is merely inspired from change of opinion and hence the same is liable to be quashed.
