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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...
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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...
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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 observed that the purpose of revision is to protect revenue interests. When no tax demand arises in consequential proceedings, the revision order no longer calls for adjudication.
he tribunal held that an appellate order based on an incorrect and reconstructed timeline of statutory notices is unsustainable. Errors in sequencing of notices strike at the root of jurisdiction and require fresh adjudication.
Pune ITAT restored the matter to the CIT(A) after the assessee argued that adequate opportunity was not provided to explain the source of funds received. The Tribunal directed fresh adjudication with proper hearing and liberty to file supporting evidence.
The Tribunal found the appellate order mechanical where Rule 46A evidence was filed but not examined. The matter was sent back for fresh adjudication after proper verification.
Demonetisation cash deposits cannot be taxed merely on suspicion when supported by statutory VAT/Excise records, sales growth, and business expansion. Rule 46A(4) empowers CIT(A) to call for such evidence without triggering procedural violations.
The issue was whether foreign bank balances funded through LRS could be taxed as unexplained credits. ITAT held that once the source and opening balance are established, section 68 cannot be invoked merely on peak-credit theory.
ITAT ruled that an allotment letter constitutes a valid agreement for section 56(2)(x) where consideration and binding terms are recorded. Stamp duty value on the allotment date, not the delayed registration date, must be applied.
ITAT remanded a ₹2.90 crore s.54F deduction case, allowing the assessee to furnish complete documentation and have the claim re-examined on merit.
Telangana High Court held that initiation of proceedings under section 143(3) of the Income Tax Act after 01.04.2021 without following provisions of section 144B i.e. assessment being carried out in faceless manner is not justifiable. Accordingly, orders are quashed and appeals are allowed.
Revenue treated the ARC’s discounted purchase of debt as a benefit to the borrower. ITAT ruled that assignment at a discount does not reduce the borrower’s obligation and, absent remission or prior allowance, no income arises under section 41(1).
