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...
The Gujarat High Court held that information seized from a third party without a direct nexus to the petitioners cannot sustain a Section 153C notice. The AO’s action was quashed.
Tribunal clarified that the Section 251 amendment uses the term ‘may set aside,’ meaning it is discretionary. Since the issue was already resolved in remand, addition was deleted.
The ITAT held that a provisional addition under Section 56(2)(x) cannot be finalized without a Departmental Valuation Officer’s report. The case was remitted to the AO for proper valuation and reassessment.
ITAT Hyderabad held that verifying documents of only one party cannot substitute verification of all transactions under Section 69C. The matter is remanded to the AO for de novo scrutiny of purchase bills, ledger accounts, transportation memos, and payment proofs for all thirteen parties.
The ITAT held that without pinpointing specific defects in books or vouchers, an arbitrary ₹50 lakh disallowance cannot stand. The ruling confirms that estimation cannot replace factual verification.
The Tribunal held that the AO found no fabricated or false documents for agricultural or tuition income. Since evidence existed but was incomplete, ITAT applied a 10% estimate and cut the addition drastically.
ITAT Delhi set aside reassessment because notices under Sections 148, 148A(b), and 148A(d) lacked digital or manual signatures. Procedural lapses can invalidate reassessments entirely.
The ITAT ruled a reassessment under Section 147 invalid because the Assessing Officer failed to issue the mandatory Section 143(2) notice. compliance with notice requirements is crucial for valid reassessment.
ITAT Jaipur held that addition towards unexplained cash deposit during demonetization under section 68 without rejection of books of accounts is unwarranted. Further, addition is also not warranted as genuineness of cash sale duly proved.
ITAT Kolkata deletes ₹7.84 crore addition on F&O and currency-derivative losses as AO relied solely on a now-vacated SEBI interim order. Tribunal emphasized that the assessee submitted full documentary evidence, which remained unrebutted, confirming losses as genuine.
