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...
When sales were not doubted, entire purchases could not be disallowed merely on the ground that suppliers were non-genuine, it was deemed appropriate to restore the matter back to the file of AO for carrying out limited verification and addition should be restricted to profit estimation.
CESTAT Mumbai held that Chief Commissioner was not justified in rejecting the compounding application filed u/s. 137(3) of the Customs Act, 1962 without granting any opportunity of hearing since the same results into violation of principles of natural justice.
Calcutta High Court hears appeal on the validity of tax penalties under Section 271(1)(c), specifically if show-cause notices lacking specific grounds are invalid. The case involves the Thakur Prasad Sao Group.
ITAT Hyderabad held that assessee failed to participate in proceeding and produce any explanation or source of deposits as well as credits since he was in judicial custody. Accordingly, matter remanded back for fresh adjudication.
The ITAT Delhi has deleted a protective addition of ₹15.23 crore against Surya Vanijya P. Ltd., ruling against double taxation as the income was already assessed in the beneficiary’s hands. However, an addition for commission income was upheld.
ITAT Chandigarh held that addition based on statement is liable to be quashed as the statement was recorded from the back of the assessee and the assessee was not given an opportunity to cross-examine the deponent. Accordingly, appeal of revenue dismissed.
These appeals filed by the assessee impugn the order dated 30.04.2021 passed by a learned Single Judge of this Court, allowing the petitions that were filed by the Commissioner of Wealth Tax and Commissioner of Income Tax, viz., respondent No.1 herein.
ITAT Ahmedabad reviews Sankalp Recreation’s tax appeals concerning unaccounted income, expenses, book rejection, and PF/ESIC disallowances following a search operation.
There is no cavil that an addition can made on the basis of documents, which are found during the course of Search and Seizure operations if on appreciation, it is found that the said documents have a bearing on the income of the Assessee.
ITAT Nagpur held that addition on account of LTCG in the hands of firm not justified as property is belonged to the partner in his individual capacity and didn’t belonged to the firm. Accordingly, order of CIT(A) upheld and appeal of revenue dismissed.
