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...
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.
ITAT Chandigarh quashed a Rs.16.24 lakh penalty under Section 271(1)(c) as the fresh assessment accepted the returned income, confirming penalties require concealment or inaccurate particulars.
ITAT Agra held that entire TDS deducted on maturity of bond is allowable since assessee has already offered interest income on accrual basis. Accordingly, appeal of the assessee is allowed and TDS credit granted.
ITAT Hyderabad held that cancellation of registration granted to appellant-society u/s. 12AA of the Income Tax Act not justifiable since conditions precedent for cancellation of registration u/s. 12AB(4)(ii) of the Income Tax Act not satisfied.
