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...
The ITAT Delhi ruled that a single approval for seven assessment years under Section 153D, issued without application of mind, is invalid, quashing the related assessment orders. The case underscores the need for careful, year-specific scrutiny.
Upholding the appellate authority, the Tribunal confirmed that jurisdiction cannot be assumed casually against a non-searched person. Statutory satisfaction requirements are mandatory, not procedural.
The issue was whether unsecured loans could still be treated as unexplained after repayment. The Tribunal held that once repayment is recorded by the AO, the addition is unsustainable.
The Tribunal clarified that precedents cannot replace factual analysis under TNMM. High-turnover mismatches justified exclusion, but other comparables required verification. The ruling underscores disciplined TP benchmarking.
Chennai ITAT set aside the PCIT’s revision order under Section 263, confirming that when the AO adopts a plausible view and conducts proper scrutiny, revision is unwarranted.
The issue was taxation of LLP partner’s remuneration without applying Sections 28(v) and 40(b). The High Court set aside the assessment for failure to consider the statutory scheme, remanding the matter for fresh decision.
The ITAT held that limitation under section 144C(13) starts from the date DRP directions are uploaded on the ITBA portal. A final order passed beyond this deadline was declared void ab initio.
The ITAT held that loans and advances accepted in earlier scrutiny assessments cannot be doubted later without fresh incriminating material. Mere balance-sheet analysis or suspicion is insufficient.
The High Court held that granting less than seven days to reply to a show-cause notice violates mandatory SOPs. Such a breach vitiates the entire faceless assessment process.
The ITAT held that Rule 8D cannot be invoked without first recording a clear dissatisfaction with the assessee’s working based on accounts. Mechanical application of the rule, without identifying specific expenditure linked to exempt income, was ruled invalid.
