Income Tax : The article explains remedies available after adverse tax orders under scrutiny and reassessment. The key takeaway is that choosin...
Income Tax : The Court clarified that mere pendency of information exchange requests under DTAA cannot justify continuing a Look Out Circular. ...
Income Tax : A surge in Section 143(2) notices was triggered by the June 2025 limitation deadline. This explains why cases were picked and how ...
Income Tax : The Tribunal ruled that penalty under Section 271A cannot be levied merely because books were rejected and income was estimated. S...
Income Tax : The ITAT held that an assessment completed before receiving the DVO report under section 50C(2) is invalid. All additions and disa...
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 : Tribunal observed that the Assessing Officer failed to establish any mismatch in stock, sales, or accounting records before making...
Income Tax : ITAT Hyderabad held that constituent members of a JV or Consortium can claim deduction under Section 80IA(4) when they actually ex...
Income Tax : The Tribunal found that full payment, TDS deduction, and transfer of possession established completion of the transaction for capi...
Income Tax : ITAT Rajkot held that cash deposits made during demonetization were fully supported by audited books of account, cash books, and b...
Income Tax : The Hyderabad ITAT held that purchases cannot be treated as bogus merely because the supplier failed to respond to a notice under ...
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 reassessment notices failed because seized documents did not relate to the relevant assessment years. Jurisdiction under Section 153C was therefore not validly assumed.
The tribunal held that remuneration received by a professional partner qualifies as professional income. The key takeaway is that such receipts can be taxed under Section 44ADA.
ITAT ruled that disallowing full purchases while also taxing corresponding sales is legally unsustainable. A uniform 6% gross profit estimation on alleged non-genuine transactions was upheld as a fair and pragmatic approach.
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).
The AO invoked Explanation 1(v) to section 153 to justify delay. The Tribunal clarified that an invalid 142A reference gives no such protection, rendering the order time-barred.
Protective addition was sustained despite completion of substantive assessment. ITAT clarified that protective assessment cannot survive after ownership and taxability are conclusively determined.
The assessee sought to contest an EPF/ESI disallowance arising only from CPC processing. ITAT ruled that issues from 143(1) must be challenged independently, not through a 143(3) appeal.
The Tribunal ruled that cash deposited from recorded demonetisation-period sales cannot be treated as unexplained when books and VAT turnover are accepted. Suspicion without evidence cannot justify section 69A additions.
ITAT Delhi ruled that disallowance under Section 14A cannot be made without AO recording satisfaction under Section 14A(2), fully deleting ₹23.38 lakh claimed from exempt dividend income.
The ITAT held that the proviso to Section 68 requiring proof of source of source applies only from AY 2013–14. Since the year involved was AY 2008–09, the ₹32.04 crore share capital addition was deleted as legally unsustainable.
