Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
Income Tax : Understand the statutory time limits for issuing income-tax notices and completing assessments under the Income-tax Act. The guide...
Income Tax : Learn the updated provisions governing rectification, assessments, reassessments, and appeals under the Income-tax Act. This guide...
Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
Income Tax : Section 154 permits rectification of mistakes apparent from the record in assessment orders, intimations, and TDS/TCS processing s...
Income Tax : Delhi ITAT allows Sanco Holding, a Norwegian company, to compute income from bareboat charter of seismic vessels under Article 21(...
Income Tax : It has been observed that in many cases an assessee may wish to make a claim which was not made in the return of income filed unde...
Income Tax : We have attached a file in excel format. The file contains the format of various details which normally assessing officer asks As...
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 : ITAT Delhi held legal services are not FTS under Section 9(1)(vii) and directed partner-wise DTAA examination. FTS addition was de...
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 : ITAT Surat held that delayed filing of Form 10B is a procedural lapse and remanded the matter after directing the AO to consider t...
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 exercising an option to convert warrants into shares does not amount to transfer under Section 2(47). Since no consideration was received and shares were not sold, no capital gain arose.
The Tribunal held that deposits received from members of a registered cooperative society cannot be treated as unexplained credits when supported by books and member-wise records.
ITAT Pune held that failure to deposit the entire amount in the Capital Gains Account Scheme does not defeat Section 54F claim if full investment is made within the stipulated period. The ruling follows Karnataka High Court precedent. The addition of ₹91.45 lakh was deleted.
ITAT Mumbai held that requirement of Form no. 3CL for weighted deduction under section 35(2AB) of the Income Tax Act is effective only from AY 2016-2017. Accordingly, denial of claim for pre-amended period is not justifiable. Thus, appeal is allowed.
The Bombay High Court held that a lender’s certificate under Section 24(b) is not required for let-out properties assessed on actual rent. Reassessment beyond four years was invalid as there was no failure of disclosure or fresh tangible material.
The Tribunal held that actuarially valued provisions mandated by law constitute application of income under Section 11 and cannot be disallowed merely due to absence of cash outflow.
ITAT Hyderabad held that failure of the Assessing Officer to examine ownership of multiple houses while allowing Section 54F deduction made the order erroneous and prejudicial. The matter was remanded for fresh adjudication.
The High Court quashed an assessment order passed without granting personal hearing despite a written request. It held that refusal on technical grounds violated principles of natural justice.
The Tribunal held that failure of the Assessing Officer to verify genuineness of a ₹30 lakh donation under Section 80GGC rendered the assessment erroneous and prejudicial to revenue, justifying revision under Section 263.
The Tribunal remanded the disallowance of PF and ESI contributions to the CIT(A) to reconsider the issue in light of the Supreme Court’s decision in Checkmate Services. The appeal was allowed for statistical purposes to ensure consistent adjudication.
