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...
Calcutta High Court held that merely because share transactions were done through stock exchanges it doesn’t make the transactions genuine. Accordingly, bogus capital loss claim rejected and appeal of revenue allowed.
ITAT Raipur restores appeal dismissed ex-parte by CIT(A), finding no proof of notice served via physical mode as opted by assessee in Form 35.
ITAT Kolkata confirms ₹31.15 lakh loan repayment is not unexplained cash credit, upholding deletion of addition for New Charan Kanwal Finance.
Addition made by AO in the hands of the trust was not justified as income from investments was taxable in the settlor’s hands and exempt under the India-UAE Double Taxation Avoidance Agreement (DTAA).
ITAT Cochin allows Chittur Service Co-op. Bank’s 80P deduction, ruling that lending to non-members does not bar the claim, citing Supreme Court’s Mavilayi judgment.
ITAT Cochin remands Kangazha Service Co-op. Bank’s tax appeal to CIT(A), citing a lack of merit-based adjudication and a need for a new hearing.
Madras High Court directs appellate Commissioner to condone the delay in filing of an appeal and consider that the petitioner cannot be left without any remedy, as there are prima facie indications of a mistake in not filing Form 67 as required under Rule 128 of the Income Tax Rule, 1962.
ITAT Delhi held that exemption granted to political party under section 13A denied to assessee (Indian National Congress) due to violation of 3rd proviso i.e. return of income not filed within prescribed due date. Accordingly, appeal of assessee dismissed.
ITAT Ahmedabad held that once cash sales are accepted as genuine for the purpose of determining profit, the same cannot be added again as unexplained cash credit by invoking provisions of section 68 of the Income Tax Act. Accordingly, appeal of revenue dismissed.
ITAT Mumbai held that addition under section 69A towards unexplained cash found during course of search cannot be sustained since reconciliation of cash with concerned sales invoices duly produced. Accordingly, appeal of revenue dismissed to that extent.
