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 Court held that notice under Section 148A(b) was valid despite search-related arguments. However, the assessment was set aside due to absence of proper reasoning on denial of Section 10(38) exemption for long-term capital gains.
PCIT s revision under section 263 against assessee was upheld holding that AO did not properly verify the very low Section 14A disallowance despite huge exempt income and also ignored INSIGHT portal inputs about alleged accommodation entries.
The Tribunal held that once satisfaction is recorded under Section 153C, assessment for covered years must proceed strictly under that provision. Framing assessment under Section 143(3) was declared jurisdictionally invalid and quashed.
The Tribunal held that once depreciation on goodwill is allowed in the first year, it cannot be questioned in subsequent years. Revisional powers under Section 263 were found to be wrongly invoked.
The Tribunal held that capital gains must be computed using the final stamp value determined after litigation, not an earlier inflated valuation, and directed deletion of the resulting addition.
The Court held that Explanation 1(f) to Section 115JB does not expressly permit addition of Section 14A disallowance, leading to dismissal of the Revenue s appeal.
The Tribunal upheld disallowance of political donation deductions where the assessee failed to prove genuineness and the transactions were linked to suspected accommodation entries. The ruling reinforces the burden on taxpayers to substantiate claims under section 80GGC with credible evidence.
The tribunal held that an appeal cannot be rejected merely due to a clerical mistake in mentioning the wrong section in Form No. 35. The matter was remanded for fresh decision on merits, reinforcing the duty of appellate authorities to adjudicate substantively.
The Revenue treated cash deposits as unexplained under Section 69A despite matching withdrawals and opening cash balance. The Tribunal ruled that redeposit of available cash cannot be taxed as unexplained income.
ITAT rejected the tax authority’s approach of increasing asset values on the assumption of appreciation. Fair market value under Section 56 must be based on book values as mandated by Rule 11UA.
