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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 issue was whether commercial usage converts agricultural or residential Lal Dora land into commercial property for stamp duty valuation. The Tribunal ruled that unless revenue records are amended, the original land classification prevails.
The issue was whether unsecured loans could be added again after being accepted in prior proceedings. The Tribunal ruled that absence of new material bars reassessment on identical facts.
The Tribunal held that PF contribution paid within the statutory due date cannot be disallowed due to a clerical mistake. Bank records proved timely payment, nullifying the addition.
Holding the assessment void ab initio due to limitation, the Tribunal quashed the revision orders. The ruling underscores that revision cannot cure a fundamentally invalid assessment.
The dispute concerned treatment of frequent cash deposits collected from customers for recharge services. The Tribunal affirmed that income should be estimated at 8% where records and compliance were lacking.
The Tribunal held that cash routed through a bank account for money transfer activity cannot be taxed in full when only commission is earned. Once commission income is offered to tax, no further addition is justified.
The Tribunal examined whether entire purchases from untraceable suppliers could be added to income. It held that only the embedded profit element can be taxed, not the full purchase value.
The ruling clarifies that if purchases, stock, and trading results are accepted and books are not rejected, sales proceeds cannot be taxed as unexplained cash credits.
The Tribunal ruled that Sections 144C and 153 must be read harmoniously and that DRP proceedings do not extend statutory limitation. Any final order issued beyond the prescribed time is void ab initio and liable to be quashed.
The Tribunal held that when sales are undisputed, entire purchases cannot be disallowed and only the embedded profit can be taxed, upholding a 20% addition.
