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 : 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 : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
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...
The Tribunal ruled that even temporary withdrawals by a shareholder can trigger deemed dividend under Section 2(22)(e). It held that duration or repayment does not negate taxability.
The tribunal examined whether sales receipts can be treated as unexplained cash credits. It held that documented sales recorded in books cannot be taxed under Section 68.
The Tribunal upheld deduction of ESOP expenses under Section 37(1) by relying on binding jurisdictional High Court precedent. It ruled that prior judicial decisions in the assessee’s own case justified deletion of disallowance.
The Tribunal held that addition of entire cash deposits without proper verification was not justified. The matter was remanded for fresh examination with an opportunity to substantiate business transactions.
The issue involved taxability of interest earned from statutory deposits. The tribunal held that such income is attributable to business activities and qualifies for deduction. This highlights the importance of statutory obligations in determining tax treatment.
The issue involved large unsecured loans without full supporting evidence. ITAT held that identity and creditworthiness were not properly established and sent the matter back for fresh verification.
ITAT Pune held that reopening of assessment under section 148 of the Income Tax Act based on audit objection is merely change of opinion and the same is impermissible in law. Accordingly, notice issued u/s. 148 is not valid and is liable to be quashed.
The Tribunal held that additions based on presumptions without evidence cannot be sustained fully. It reduced the addition on unexplained cash deposits from 10% to 5%, granting relief to the assessee.
The Tribunal held that different floors of the same building constitute one residential house. Deduction under Section 54 cannot be denied on the ground of structural division.
The dispute involved unexplained cash deposits in bank accounts. The Tribunal ruled that deposits partly belonged to the principal, reducing the addition.
