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 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 : ITAT Delhi held that interest and dividend earned from co-operative banks qualify for deduction under Section 80P(2)(d). Totgar's ...
Income Tax : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
ITAT held that a registered sale deed without corroborative evidence is not incriminating material and cannot support additions in Section 153A proceedings.
ITAT held that business profit already disclosed in the income tax return cannot be added again as undisclosed income. The duplicate addition was deleted.
ITAT Delhi held that IT, salary and travel reimbursements without any profit element were not taxable and deleted the disallowance under Section 40(a)(i).
ITAT held reassessment under Sections 147/148 invalid because it was based on a pre-1 April 2021 third-party search, requiring proceedings under Section 153C.
ITAT Mumbai held that eligible CSR donations qualify for Section 80G deduction if statutory conditions are met, despite disallowance under Section 37(1).
The High Court held that an assessment order passed without issuing a show cause notice detailing the proposed additions violated the principles of natural justice. The matter was remanded for fresh proceedings after issuing a proper notice.
The Madras High Court held that assessment proceedings should include a show cause notice identifying the proposed additions before passing the final order. The assessment orders were treated as show cause notices and remanded for fresh consideration.
ITAT Delhi held that documentary evidence established receipt of intra-group administrative support services and that the 5% markup was at arm’s length. The transfer pricing adjustment was accordingly deleted.
ITAT held that an Assessing Officer cannot substitute the DCF method chosen under Rule 11UA with the NAV method without legal justification.
ITAT Chennai held that the assessees bona fide belief, based on the Departments consistent acceptance of interest income as Income from Other Sources, amounted to reasonable cause under Section 273B. The penalty under Section 271B was deleted.
