Income Tax : Learn how online gaming habits can lead to income tax scrutiny notices under Section 143(2) of the Income Tax Act, 1961. Understan...
Income Tax : Explore the implications of taxation under section 115BBE, including misuse of sections 68 to 69D, consequences of high tax rates,...
Income Tax : Ensure sufficient time for compliance with Section 143(2) notice and the mandatory issuance of valid notices under Section 142(1)(...
Income Tax : 1. What is Sec 143(2)? Where a return has been furnished u/s 139, or in response to a notice 142(1), the Assessing Officer (AO) ...
Income Tax : On commencement of regular assessment proceedings u/s 143(2) of Act , there is no need for intimation u/s 143(1)(a)(i) Where the s...
Income Tax : The Supreme Court has ruled that it is mandatory for the Income Tax Department to issue notice within the prescribed time limit of...
Income Tax : Detailed analysis of the ITAT Jodhpur decision in Gaurav Purohit vs PCIT, covering the grounds of appeal, legal arguments, and imp...
Income Tax : Assessee has placed sufficient documents and materials on record to prove identity and creditworthiness of shareholders and genuin...
Income Tax : ITAT Kolkata's order in ITO Vs Indus Realty Pvt. Limited - Mere suspicion or disbelief on the part of Assessing Officer is insuffi...
Income Tax : Detailed analysis of Dharam Singh Vs PCIT (ITAT Delhi) case where ITAT Delhi ruled that revisionary power can't be invoked solely ...
Income Tax : The ITAT Bangalore ruled that income tax additions can't be based solely on unsubstantiated loose slips, emphasizing the need for ...
Income Tax : Understand the guidelines set by the Indian Ministry of Finance for the compulsory selection of returns for complete scrutiny duri...
Income Tax : CBDT hereby authorises the Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (NaFAC) having her / his headqua...
Income Tax : The three formats of notice(s) are: Limited Scrutiny (Computer Aided Scrutiny Selection}, Complete Scrutiny (Computer Aided Scruti...
Income Tax : Central Board of Direct Taxes, with approval of the Revenue Secretary, has decided to modify notice under section 143(2) of the In...
Income Tax : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
Detailed analysis of the ITAT Jodhpur decision in Gaurav Purohit vs PCIT, covering the grounds of appeal, legal arguments, and implications for future cases.
Assessee has placed sufficient documents and materials on record to prove identity and creditworthiness of shareholders and genuineness of transaction of receiving share capital and share premium, invoking provisions of Section 68 of was not justified
ITAT Kolkata’s order in ITO Vs Indus Realty Pvt. Limited – Mere suspicion or disbelief on the part of Assessing Officer is insufficient to justify additions under Section 68. The identity, creditworthiness, and genuineness of transactions must be thoroughly evaluated and substantiated with concrete evidence.
Detailed analysis of Dharam Singh Vs PCIT (ITAT Delhi) case where ITAT Delhi ruled that revisionary power can’t be invoked solely on improper inquiry allegations by AO.
The ITAT Bangalore ruled that income tax additions can’t be based solely on unsubstantiated loose slips, emphasizing the need for corroborative material evidence.
Read the Calcutta High Court’s decision dismissing a writ petition challenging an Income Tax Act assessment order. Details on appeal availability discussed.
Read the full judgment of Lakeshore Hospital vs ACIT where Kerala High Court dismisses writ petition challenging demand notice due to failure to update email address.
The Delhi ITAT ruled assessments concluded without mandatory Section 153D approval as void, affecting Emaar MGF Land Ltd’s cases from AY 2010-11 to AY 2015-16.
ITAT Delhi rules in favor of Grey Orange India Pvt. Ltd., allowing income tax deduction on warranty expenses. Detailed analysis of the ITAT order and implications.
In the case of Wellman Logistics Pvt. Ltd Vs ACIT, ITAT Kolkata deletes income tax addition u/s 68, proving creditworthiness of share subscribers and genuineness of transactions with supported documents.
