Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
Income Tax : Learn the updated provisions governing rectification, assessments, reassessments, and appeals under the Income-tax Act. This guide...
Income Tax : The article explains how the Finance Acts, 2025 and 2026 have reshaped the Updated Return regime under Section 139(8A). It highlig...
Income Tax : The article explains that 30 June is the Department's deadline to issue scrutiny notices for eligible returns, not a filing deadli...
Income Tax : The Income Tax Department explains how faceless assessments under Section 144B operate through the e-Filing portal without requiri...
Income Tax : Read how Income Tax Gazetted Officers’ Association addresses last-minute case reallocations affecting timely issuance of notices...
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 : Where unaccounted sales were established through seized material, only the net profit embedded therein was liable to tax, and not ...
Income Tax : ITAT Bangalore held that additions made in an intimation under Section 143(1) cannot be disputed in an appeal against a scrutiny a...
Income Tax : Interest on delayed payment of the FM radio migration fee was a compensatory business expenditure deductible under Section 37(1); ...
Income Tax : ITAT Mumbai remanded the case to examine whether Section 56(2)(x) applied based on the agreement date and to consider refund of ex...
Income Tax : ITAT Mumbai deleted a Section 69 addition after finding documentary evidence established joint ownership, source of funds, and ear...
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...
ITAT Nagpur held that addition under section 43CA of the Income Tax Act unwarranted since difference between actual sale price and valuation as per DVO is within tolerance band of 10%. Accordingly, entire addition is directed to be deleted.
ITAT Jaipur held that addition under section 69A of the Income Tax Act towards unexplained money found during the course of search is liable to be deleted since assessee has discharged his onus to prove that the cash found is completely verifiable from the audited books of accounts.
The ITAT Visakhapatnam ruled that protective additions made in reassessment proceedings are invalid because they did not co-exist with a substantive addition for the same assessment year. The Tribunal held that a protective assessment cannot stand in isolation and cannot be based on mere suspicion to keep a hypothetical option open for the Revenue.
ITAT Pune dismissed Revenue’s appeal against Mukund Bhavan Trust, confirming its Sections 11 & 12 exemption. It ruled Sections 13(1)(b) & 13(1)(c) restrictions don’t apply to pre-1961 trusts with protected founding conditions.
The ITAT Mumbai upheld the deletion of a Rs.2.22 Cr addition under Section 43CA for AY 2018-19, ruling that the 10% tolerance limit (safe harbor) for the difference between sale consideration and property valuation is a beneficial, curative amendment and thus applies retrospectively from the provision’s insertion.
Invalid 143(2) notice format kills assessment. Kolkata ITAT quashes s.143(3) assessment (Pankhuri Mishra Vs ITO) as notice didn’t specify scrutiny type (limited/complete) per CBDT mandate.
The ITAT Delhi upheld the deletion of a RS.4 crore addition made under Section 68 against Livros Publishing Pvt. Ltd., ruling that the share application money received through banking channels from a listed NBFC.
The ITAT ruled that the CIT(A) cannot set aside a reassessment order framed under Section 147 read with Section 144B, as the limited power to remand only applies to best-judgment assessments under Section 144. The Tribunal sent the penny stock LTCG case back, directing the CIT(A) to decide the appeal strictly on its merits.
The ITAT Delhi set aside the CIT(A)’s order deleting a Rs.16.10 Cr unsecured loan addition against Nitin Garg, remanding the issue to the AO. The Tribunal found the CIT(A) erred by not requesting a remand report to verify the lender’s creditworthiness and the source of funds, despite the assessee’s non-compliance during assessment.
ITAT Chennai sustains 50% disallowance of claimed agricultural income (Padam Kumar Vs DCIT). Holds land ownership alone doesn’t prove cultivation; evidence is necessary.
