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...
Punjab and Haryana High Court granted bail to the accused who is already in custody for a period of more than 6 months for commission of offence punishable under Section 132 of the Central Goods and Services Tax Act [CGST Act]. Accordingly, bail granted.
ITAT Mumbai held that addition under section 68 towards unsecured loans merely relying on retracted statement cannot be sustained. Accordingly, order of CIT(A) upheld and appeal of revenue is dismissed.
ITAT Mumbai held that where the entire foundation of reopening solely based on material found during the search of another person, the appropriate course of action is to proceed under Section 153C, and not under Section 147. Accordingly, reassessment proceedings u/s. 147 quashed.
The Kerala High Court clarified eligibility for Income Tax Settlement applications, quashing a CBDT condition and allowing a delayed filing due to Supreme Court’s COVID-19 limitation extension.
Although this protection does not extend to civil consequences such as forfeiture of property, cancellation of licenses, or debarment from business activities, any retrospective application of a penal or quasi-penal provision must be narrowly interpreted.
Additionally, any person summoned to the DGGI may request his statement to be recorded under CCTV surveillance, in view of the judgment of the Hon’ble Supreme Court in Paramvir Singh Saini.
ITAT Delhi held that imposition of penalty u/s. 270A(9)(a) of the Income Tax Act without mentioning the specific instance of misreporting in the notice or in order will vitiate the penalty order. Accordingly, penalty deleted and appeal allowed.
ITAT Delhi rules DVO reference before Sec 148 notice invalid; deletes Rs 2.28 Cr addition in Aerens Group case due to lack of pending assessment.
CESTAT Kolkata held that imposition of penalty under section 114(i) of the Customs Act for attempting smuggling of Red Sander woods unwarranted due to lack of valid evidences. Accordingly, penalty is dropped and appeal allowed.
Significant to note that the assessment order was passed in the backdrop of information received from the French Government under the Double Taxation Avoidance Agreement (DTAA), indicating that assessee held bank accounts in HSBC Private Bank (Suisse), SA, Switzerland.
