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...
Gujarat High Court overturns lower court, orders Rs. 13 lakh robbery cash to be handed to Income Tax Department for undisclosed income probe.
ITAT Ahmedabad held that addition towards accommodation entries of bogus LTCG cannot be sustained in absence of any iota of tangible perceptible evidence. Accordingly, appeal allowed and addition set aside.
Gujarat High Court held that requisition of seized cash allowed under section 132A of the Income Tax Act and directed that the income tax department shall be free to undertake all actions permitted under the law and shall deposit the entire amount in the P.D. Account.
ITAT Chandigarh held that invocation of revisionary power under section 263 of the Income Tax Act not sustainable since PCIT failed to establish that assessment order was erroneous and prejudicial to the interest of revenue. Accordingly, appeal of assessee allowed.
ITAT Jaipur dismisses appeals by Chandalal Verma, confirming income additions for AY 2011-12 and 2017-18, citing Section 292C presumption on seized documents.
Pursuant to the search operation, a show-cause notice was issued to the appellants as required u/s. 127 of the Act, proposing to centralise the income tax files relating to the appellants to the Central Circle in Kolkata.
Madras HC dismisses plea against IT case transfer from Theni to Kochi Central Circle, citing Rs 50 lakh seizure in Kerala search & mandatory CBDT guidelines.
ITAT Pune held that in respect of unabated assessment, no addition can be made by AO in absence of any incriminating material found during the course of search under section 132 of the Income Tax Act. Accordingly, order set aside and appeal allowed.
Delhi High Court held that Magistrate not empowered to order/ direct fresh revaluation of smuggled goods at the preliminary stage of investigation. Accordingly, direction for revaluation of goods is unsustainable in law.
ITAT Mumbai held that addition under section 69A of the Income Tax Act on the basis of a third party statement without bringing any corroborative material is liable to be deleted. Accordingly, addition deleted and appeal of assessee allowed.
