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 Delhi held that approval from the PCCIT or PDGIT is mandatory, as provided u/s 35(2AB)(iv) of the Act. Since such mandatory approval of R&D facility from the PCCIT or PDGIT was not obtained by the assessee therefore, weighted deduction u/s 35(2AB) of the Act cannot be allowed.
ITAT held that where interest-free funds exceed advances, a presumption arises that such advances are made from own funds. Disallowance under section 36(1)(iii) was deleted as no nexus with borrowed funds was proven.
The issue was whether reassessment was valid without proper service of mandatory notice under Section 143(2). The Tribunal remanded the case for fresh examination, holding that the jurisdictional issue requires reconsideration.
ITAT Mumbai held that deduction claimed by the assessee under section 80G of the Income Tax Act cannot be denied merely on the ground that the payment also formed part of CSR expenditure under the Companies Act.
The Court held that an assessment order passed in the name of an amalgamating, non-existent entity is void. It ruled that system glitches cannot cure a fundamental jurisdictional defect.
ITAT upheld addition under Section 68 as the assessee failed to prove identity, creditworthiness, and genuineness of unsecured loans. It ruled that mere submissions without proper evidence do not discharge the initial onus, and addition was rightly sustained.
ITAT set aside the addition made under Section 68 due to incomplete verification of a large gift transaction. It remanded the case for fresh examination with proper evidence and opportunity.
The case addressed whether reassessment can proceed before disposing of objections. The Tribunal ruled that such action breaches mandatory legal procedure, leading to quashing of the assessment.
ITAT Kolkata held that professional fees for works related to acquisition of new unit or expansion of existing undertaking is governed by provisions of section 35D of the Income Tax Act. Thus, since there is a specific provision u/s. 35D for amortization of certain preliminary expenses, the recourse could not have been had to the residuary provision of section 37(1) of the Act.
ITAT Chennai held that reassessment u/s. 148 of the Income Tax Act after expiry of four years not sustainable since there was no failure on the part of assessee to disclose fully and truly all material facts. Further, reassessment is invalid for non-furnishing of actual reasons recorded.
