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 Mumbai directs AO to verify long-term capital loss after CIT(A) incorrectly noted Rs. 16.89 lakhs instead of Rs. 16.89 crores.
Delhi High Court grants relief to MakeMyTrip, quashing a reassessment notice for AY 2015-16 as time-barred. TOLA held inapplicable.
ITAT Mumbai remands appeal in Falguni Panchmatia case, condoning delay and directing fresh hearing due to lack of opportunity and procedural fairness.
ITAT Mumbai deletes penalty under Section 271(1)(c), stating no deliberate concealment and distinguishing case from precedent in Mak Data ruling.
ITAT Hyderabad partially upholds AO’s addition for unexplained cash deposit by Shri Balineni Kishore Babu, confirming ₹48,000 due to lack of source proof.
ITAT Kolkata held that re-assessment proceedings initiated under section 148 of the Income Tax Act without any tangible material and without independent application of mind is not sustainable in law. Accordingly, reassessment is quashed.
Bombay High Court held the reopening of assessment initiated on the basis of subsequent information justified as based on such information transaction was prima facie found to be undisclosed funds routed through various tax havens companies.
The assessee company, engaged in the business of real estate, having multiple ongoing projects of construction and also selling upon the plots of land. The case of the assessee was selected for scrutiny assessment through CASS.
ITAT Mumbai held that date of allotment letter, rather than date on which purchase deed of conveyance was entered, should be considered for holding period of the property. Accordingly, appeal of assessee allowed.
ITAT Pune held that application of cash received from unrecorded cash sales needs verification since assessee claims that it is applied for giving advance to the farmers for purchase of raw material and also for expansion of the existing showroom.
