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...
ITAT Pune held that late filing of audit report cannot disentitle trust from availing benefit of section 11 of the Income Tax Act. Accordingly, order of CIT(A) allowing claim of exemption u/s. 11 upheld and appeal of revenue dismissed.
The Tribunal ruled that when a 143(3) assessment merely adopts 143(1) figures without examining adjustments, taxpayers can still appeal the 143(1) intimation. Key takeaway: merger does not automatically block appeals.
ITAT Jaipur held that addition towards unaccounted commission based on seized digital sheet without corroborative evidence is not sustainable. Accordingly, addition is deleted and said ground raised by assessee is allowed.
Tribunal deleted 10% ad-hoc disallowances on travelling and telephone expenses as the assessee produced complete vouchers and audited books. Authorities cannot impose blanket disallowances without specific inquiry.
The tribunal confirmed that in search assessments under section 153A, no separate notice under section 143(2) is required. The assessee’s procedural objection was dismissed, aligning with Delhi High Court precedent.
The CIT(A)’s assumption of delay was corrected, restoring the appeal for adjudication. The ruling reinforces that statutory timelines are calculated from actual notice, ensuring fairness in tax appeals.
The assessee’s appeal succeeded in deleting the penalty under Section 271(1)(c) as the additional income was already declared in the return. The court held that initiating penalty proceedings on disclosed income exceeds the AO’s jurisdiction and is impermissible.
ITAT Pune ruled that a primary credit cooperative society can claim deductions under Section 80P(2)(d) for interest and dividend income from other cooperative banks, overturning Revenue’s appeal.
ITAT Raipur set aside an ex-parte appellate order where the CIT(A) dismissed the appeal solely for non-prosecution. The matter was restored for fresh adjudication to ensure principles of natural justice are followed.
The Tribunal held that TP additions for guarantee fee and interest were unsustainable because the TPO applied no prescribed method. Key takeaway: ALP must be determined using recognized methodologies, not ad-hoc markups.
