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...
ITAT Delhi held that approval accorded u/s. 153D in stereotype manner and single approval has been granted for various Assessment Years is invalid sanction. Thus, order passed based on invalid sanction accorded u/s. 153D is liable to be quashed.
Bombay High Court slaps ₹10,000 cost on Zarah Rafique Malik for failing to inform the tax officer about pending DRP objections, setting aside the assessment order for re-consideration.
ITAT Surat rules cash in real estate business isn’t automatically unexplained for demonetization deposits. Reduces ₹7.54L addition, cites Supreme Court on cash balances.
ITAT Delhi held that in case of bogus purchases only profit element embedded should be taxed and entire amount of purchases cannot be taxed. Accordingly, AO directed to apply profit rate of 5% on unverifiable purchases.
ITAT Delhi held that different floors of a property cannot be construed as independent residential unit and instead had to be construed only as a single residential unit for purpose of claiming deduction u/s. 54F. Accordingly, grounds raised by revenue dismissed.
ITAT Hyderabad held that it is not obligatory on the part of the CIT(A) to set aside all the best judgment assessment orders passed u/s 144 of the Income Tax Act to the file of the AO. CIT(A) is obligated to address the grievance of validity of jurisdiction assumed by AO for initiating reassessment proceeding.
PCIT (Central)-2 Vs K.R. Pulp And Papers Ltd (Delhi High Court) Delhi High Court held that reopening of assessment under section 147 of the Income Tax Act rightly quashed by CIT(A) and ITAT since there was full and true disclosure of all the material facts on the part of the assessee. Accordingly, appeal of revenue […]
ITAT Pune held that rectification order under section 154 of the Income Tax Act passed without providing an opportunity of being heard is bad-in-law and deserved to be set aside. Accordingly, appeal of assessee allowed.
ITAT Kolkata sets aside ex-parte CIT(A) order on unexplained demonetization cash deposit against Akanksha Enterprises, allowing a fresh hearing based on natural justice.
ITAT Chennai remanded a VRS compensation deduction case to verify prior disallowance and upheld the deletion of deemed dividend addition, following Supreme Court precedent.
