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 ruled that reassessment could not be initiated based on audit objections containing factual errors and overlooking prior accepted depreciation. The decision underscores that reopening must be based on proper evaluation of facts, not mere audit remarks.
The High Court declined to interfere with a penalty imposed under Section 271(1)(c) after the Department failed to produce a 2008 notice. The Court directed the assessee’s legal heirs to pursue the statutory appeal, noting the factual dispute requires appellate examination.
The ITAT ruled that failure to issue a mandatory Section 143(2) notice and disregarding an e-verified return rendered the reassessment void. The addition of ₹50.50 lakh was deleted.
ITAT Delhi remanded the case to verify whether imports made using a firm’s PAN were recorded in the company’s books. CIT(A) deletion was quashed as factual examination was needed.
ITAT struck down ₹17.5 lakh salary disallowance under Section 40A(2)(b) because the AO relied on a statement of a different person. Standalone statements without corroboration cannot sustain additions.
ITAT held that reopening of assessment based solely on investigation inputs without independent verification is invalid. The reassessment and 1% commission addition were deleted, reinforcing the requirement for AO’s own application of mind.
The ITAT held that blank letterheads found during a search are dumb documents and cannot constitute incriminating material. Since no corroborative evidence existed, all 153A additions and penalties were invalidated, reaffirming that suspicion alone cannot sustain assessments.
The tribunal held that brought-forward losses and unabsorbed depreciation remain in the books until fully absorbed and must be allowed as reduction under Section 115JB. The ruling rejects the Revenue’s stand and upholds the CIT(A)’s deletion of the addition.
The Tribunal held that reassessment beyond four years is invalid when the AO fails to show how the assessee withheld material facts. The AO merely copied Investigation Wing inputs without independent reasoning. The entire reassessment was declared void for violating the proviso to Section 147.
The Tribunal held that cash deposits are explained when supported by corresponding withdrawals, even without precise mapping. Once the assessee shows availability of funds, the onus shifts to the AO to rebut the explanation. The addition under Section 69A was deleted in full.
