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...
Tribunal held that once a scrutiny assessment under Section 143(3) allows a claim, any earlier disallowance by CPC under Section 143(1) merges into it and loses force.
The ITAT Ahmedabad quashed a PCIT order, ruling that revisional power cannot be invoked for mere verification, and a specific error must be proven to show prejudice to revenue.
ITAT Lucknow deleted an addition of ₹27.34 lakh under Section 40A(3), ruling that cash payments for land were justified by business expediency and genuine transactions.
ITAT Mumbai ruled that a penalty cannot be imposed on estimated additions from bogus purchases. Tribunal affirmed that without cogent evidence, estimated profits don’t warrant a penalty.
Bombay High Court confirms tax penalties cannot be imposed solely on additions made through ad hoc estimations, dismissing a revenue appeal against Colo Colour Pvt. Ltd.
The ITAT Visakhapatnam allowed a trust’s appeal, restoring its Section 11 exemption. The sale of property to a trustee at market value was not a violation of Section 13, as no undue benefit was conferred.
The ITAT ruled that a CIT(A) must independently verify evidence before deleting a tax addition, even if the AO fails to provide a remand report.
The ITAT Visakhapatnam condoned a 284-day delay and restored the appeal of an MLA whose auditor had passed away. The tribunal ruled that the CIT(A) was wrong to dismiss the case for non-prosecution and must adjudicate on the merits.
The ITAT has granted a final opportunity to a cooperative society in a tax dispute, despite its repeated defaults, to ensure a fair hearing on the merits of the case.
The ITAT ruled that a tax addition under Section 56(2)(x) cannot be made solely on stamp duty value. The AO must first obtain a DVO valuation.
