Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
Income Tax : Understand the statutory time limits for issuing income-tax notices and completing assessments under the Income-tax Act. The guide...
Income Tax : Learn the updated provisions governing rectification, assessments, reassessments, and appeals under the Income-tax Act. This guide...
Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
Income Tax : Section 154 permits rectification of mistakes apparent from the record in assessment orders, intimations, and TDS/TCS processing s...
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 : 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...
Despite allegations of sham sub-contracts, the project was shown to be completed, commissioned and operational. The Tribunal held that once the asset exists and is used, depreciation cannot be denied without concrete proof of bogus cost.
The Tribunal held that ritualistic approval under section 153D, without application of mind, vitiates search assessments. Mandatory supervisory approval must reflect genuine examination of draft orders.
The ITAT held that appeals must be filed before the correct jurisdictional bench. An appeal filed before the wrong Tribunal is liable to dismissal at the threshold.
The dispute concerned computation of capital gains on sale of shares affected by corporate actions. The Tribunal affirmed that detailed tranche-wise analysis and statutory indexation justified allowance of long-term capital loss.
The Tribunal held that a transfer pricing order passed beyond statutory limitation is non est in law. As a result, the assessee ceased to be an eligible assessee under section 144C, making the final assessment beyond limitation and void.
The Tribunal deleted a penalty imposed for alleged non-maintenance of accounts. It held that audited books, even if defective, do not attract penalty under Section 271A.
The issue was whether a penalty could survive when the notice failed to specify the exact limb of section 271(1)(c). The ITAT held such ambiguity fatal, quashing the entire penalty as void.
The issue was whether the final order was passed within the statutory timeline after DRP directions. The Tribunal held that delay beyond one month under section 144C(13) renders the order void.
The Tribunal upheld deletion of additions where receipts were linked to declared sales and no evidence of cash back was shown. Acceptance of sales negates Section 68 in the absence of proof.
ITAT Pune ruled that interest earned by a cooperative society from ICICI and HDFC banks retains its character as business income and qualifies for deduction under section 80P(2)(a).
