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...
CIT(A) dismissed the appeals and upheld the assessments with the additions. It was held that search assessments were legally valid, JCIT had granted proper approval after due consideration, and the additions were based on incriminating material found during the search.
Tribunal upheld revision. It was held that once there was an inquiry, even inadequate, that would not by itself, give occasion to the Commissioner to pass order under Section 263 merely because he had a different opinion in the matter.
Chhattisgarh High Court held that addition towards unaccounted sales based on estimated production yield is baseless and without any evidence/ material and accordingly is not sustainable in law. Accordingly, appeal of revenue dismissed.
The ITAT has ruled in favor of Shri Bhola Food Products, deleting a Rs. 2,50,000 interest disallowance that was arbitrarily estimated without legal justification.
The ITAT ruled that the PCIT’s revision order was invalid as the AO had already examined the assessee’s agricultural income claim, thus not acting erroneously.
ITAT Ahmedabad allows a co-operative society to deduct interest earned from co-operative bank deposits under Section 80P, clarifying its distinction from other bank types.
The ITAT Kolkata deleted a double addition of Rs. 3.43 Cr, an ad-hoc expense disallowance, and a notional interest addition, finding the additions to be without legal basis.
The ITAT Kolkata upheld the deletion of a Rs. 20.25 Cr addition, confirming that unsecured loans received through banking channels were genuine after the lenders’ identities and creditworthiness were verified through their completed assessments.
The ITAT Kolkata has quashed a reassessment notice and a subsequent Rs. 7.03 Cr addition, ruling that once a Section 263 revision proceeding is dropped, a Section 147 reassessment on the same issue cannot be initiated.
ITAT Raipur rules that mechanical or “rubber-stamp” approvals under Section 153D are invalid, requiring the approving authority to apply independent mind and provide case-specific reasoning.
