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 Tribunal held that the assessee established a prima facie case regarding deduction eligibility for habitable-unit expenditure.
ITAT Delhi upheld that failure to pass a speaking order on objections under GKN Driveshafts makes reassessment void, dismissing Revenue’s appeal for AY 2012-13
The ITAT ruled that a reassessment notice issued by a non-jurisdictional officer is void, quashing a demand of ₹1.01 crore and invalidating the assessment.
The ITAT Mumbai invalidated the reopening of an income-tax assessment under section 148, holding that no new tangible material was found. Interest income from co-operative banks and other receipts had already been considered in the original assessment.
Tribunal dismisses AO’s addition after assessing evidence, books of accounts, VAT returns, and confirmed ledgers, confirming the transactions’ authenticity.
Revenue’s claim of short-term gains was rejected; ITAT held that shares received as a gift inherit the donor’s acquisition date and holding period, validating LTCG and section 54F exemption.
Court emphasizes procedural compliance in PAN usage, quashing notice and order issued under surrendered PAN and ensuring proper reassessment steps.
The Tribunal held that advances originating from bank cash-credit facilities secured by the shareholder’s personal assets are commercial transactions, not deemed dividend. The addition under section 2(22)(e) was therefore removed.
The Tribunal held that once sale proceeds are reduced from the asset block under section 43(6)(c), no separate tax can be levied on book profit. The addition was deleted to prevent double taxation.
The Tribunal held that AO must recompute capital gains considering purchase cost, indexation, and stamp duty, instead of merely adding the section 50C deemed value difference.
