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 issue was whether a ₹3.05 crore disallowance under section 14A could stand without nexus to exempt income. The ITAT held that only a reasonable amount with clear linkage can be disallowed, capping it at ₹10 lakh.
The ITAT held that land-levelling and fencing expenses are integral to acquiring agricultural land and qualify for section 54B deduction. The ruling clarifies what constitutes eligible investment despite restricting unregistered costs.
The ITAT held that taxing only TDS credit, while leaving the underlying undisclosed commission untaxed, is a patent error. Section 263 revision was rightly invoked to protect revenue.
The issue was whether revision under section 263 could be invoked to deny 80P deduction on interest from co-operative bank deposits. The ITAT held that such revision is invalid when the AO has taken a legally settled and permissible view.
The Tribunal held that purchases supported by invoices, e-way bills, banking payments, and valid GST registration at the time of supply cannot be treated as bogus. Subsequent GST cancellation and non-response by suppliers were held insufficient to justify disallowance.
The issue was whether the AO could expand a limited scrutiny assessment into a complete scrutiny without approval. The ITAT held that such expansion is invalid without prior PCIT sanction.
The dispute involved alleged non-compliance with mandatory faceless assessment procedure rendering the order non est. The ITAT held that remanding without ruling on section 144B(9) violations is impermissible.
The Tribunal remanded the MAT issue after noting lack of factual verification on whether reserve withdrawals were credited to the P&L account. Key takeaway: MAT adjustments under section 115JB require strict, evidence-based verification.
The issue was whether entire bank cash deposits could be taxed as unexplained money. The Tribunal ruled that gross receipts alone cannot be treated as income without examining business facts. Key takeaway: turnover ≠ income under section 69B.
The court set aside a rectification order passed without a DIN and beyond the statutory time limit. The ruling underscores that non-compliance with CBDT DIN rules renders such orders invalid.
