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 Ahmedabad held that the AO had conducted detailed enquiries into long-term capital gains from penny stock transactions, and the PCIT’s revision under section 263 was based only on an audit objection. Since the AO’s view was plausible and well-supported, the revisional action was unsustainable and quashed.
The Tribunal found that the assessee’s audited accounts, finalized before demonetisation, clearly established sufficient cash balance to cover the ₹14 lakh deposit. Since Revenue produced no evidence of inflation or manipulation, the addition under Section 69A could not survive.
The Tribunal held that the DRP erred in refusing to consider the USAID–AE agreement, which directly established the back-to-back cost-plus-6% model. It ruled that such crucial evidence cannot be dismissed on a procedural technicality and remanded the matter for fresh adjudication.
ITAT Kolkata held that an addition cannot be sustained solely on a survey statement under Section 133A. Proper verification of stock and business records is required before treating income as undisclosed.
Tribunal upholds disallowance of ₹76 lakh paid for regularizing building deviations, ruling such compounding fees are penalties under Section 37(1) and not deductible.
ITAT Delhi allowed the appeal after noting the CIT(A) ignored a revised Tax Audit Report proving timely PF/ESI payments. Key takeaway: revised audit reports must be considered before confirming disallowances under Section 36(1)(va).
The tribunal confirmed that in search assessments under section 153A, no separate notice under section 143(2) is required. The assessee’s procedural objection was dismissed, aligning with Delhi High Court precedent.
ITAT Pune ruled that a primary credit cooperative society can claim deductions under Section 80P(2)(d) for interest and dividend income from other cooperative banks, overturning Revenue’s appeal.
ITAT allowed assessee’s appeal against Section 68 addition, stressing that AO must evaluate annual business activity, stock, and legitimate cash sales. This decision safeguards traders during exceptional periods like demonetization.
Madras High Court held that development charges paid to SIPCOT not being capital asset doesn’t qualify for the claim of depreciation. However, the same qualifies as revenue expense and assessee entitled to claim deduction @5% as SIPCOT would deduct 5% every year.
