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...
The ITAT Delhi set aside the CIT(A)’s order deleting a Rs.16.10 Cr unsecured loan addition against Nitin Garg, remanding the issue to the AO. The Tribunal found the CIT(A) erred by not requesting a remand report to verify the lender’s creditworthiness and the source of funds, despite the assessee’s non-compliance during assessment.
The ITAT Delhi ruled in DCIT Vs Jai Jai Ram Singh Infrastructure that shuttering material constitutes a homogenous ‘plant’ and not a ‘purely temporary erection.
The ITAT Rajkot confirmed the addition of Rs.3.99 crore to the income of Kataria Snack Pellets Pvt. Ltd. under Section 56(2)(viib), ruling that the company’s Discounted Cash Flow (DCF) share valuation was speculative, lacked empirical support for growth rates and terminal value, and failed to adhere to ICAI guidelines.
ITAT Ranchi quashes PCIT’s Section 263 order against a Co-operative Society (Chotanagpur Catholic Mission). Rules 80P deduction cannot be denied after AO’s thorough verification.
ITAT Ahmedabad deletes Rs.8.14 lakh addition, ruling that AO’s estimation of agricultural expenses using an unrelated 40% benchmark was arbitrary and unsustainable in law.
Kolkata ITAT rules that delayed Form 67 filing isn’t fatal to FTC claim. FTC is a substantive right under Section 90; Rule 128’s timeline is directory, not mandatory.
ITAT Chennai quashes assessment because the notice u/s 143(2) was issued by a non-jurisdictional AO after jurisdiction transfer u/s 127 was effective. Jurisdictional error is fatal; entire assessment declared void ab initio.
ITAT Delhi deletes Rs. 52.65 Cr notional interest addition, affirming only real income is taxable. It allows Rs. 20.18 Cr theft loss and Rs. 12.09 Cr flood/expiry loss on unsaleable inventory.
Delhi ITAT ruled that a Rs. 3.74 Cr tax addition on suppressed profit was illegal. Extrapolating income beyond the search date without evidence is impermissible.
Pune ITAT set aside a CIT(E) revision against PYC Gymkhana, ruling the AO’s view was plausible since business receipts were below the 20% limit in Section 2(15) Proviso (ii).
