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...
ITAT Ahmedabad held that addition of LTCG u/s. 68 of the Income Tax Act by treating transaction as bogus cannot be sustained since shares were sold via recognized stock exchange and Security Transaction Tax [STT] duly paid and assessee’s involvement in manipulation of price not pointed.
ITAT Mumbai held that disallowance of expenses purely on adhoc basis without rejection of books of accounts or without pointing out any specific deficiencies is not justifiable and liable to be set aside. Accordingly, appeal of assessee allowed.
AO was bound to follow the CBDT circular 19/2019 (F. NO.225/95/2019-ITA.II], DATED 14-82019 and the omission/dereliction was anathema to the basic feature of our Constitution “Rule of Law”, so his impugned action of passing the assessment order without quoting the DIN was held to be arbitrary exercise of power and therefore, invalid.
ITAT Delhi quashes assessments under Section 153A due to “mechanical” Section 153D approval by the Additional CIT. The tribunal emphasized that this approval is a mandatory safeguard, not a mere formality, and its lack of application of mind renders assessments void.
ITAT Hyderabad held that once the resolution plan is approved by the NCLT and the Company has been sold on going concern basis, whatever claims made before the Liquidator is final and all past or existing liabilities shall extinguish. Accordingly, matter restored back to re-examine claim made before liquidator.
The ITAT Delhi has ruled in favour of Sourabh Logistics Pvt. Ltd. regarding ₹4.50 crore in share application money, upholding its deletion. However, additions of ₹1.50 crore for unsecured loans were partly confirmed and partly sent back to the Assessing Officer for further review.
ITAT Jaipur allows deduction u/s 80P on interest earned from bank FDs and investments for a credit co-operative society, distinguishing the Totgars case and following CBDT clarifications.
ITAT Pune has granted partial relief to an assessee, deleting a ₹5 lakh disallowance related to an unexplained cash deposit. Tribunal, however, upheld disallowance of a ₹10 lakh cash gift, ruling that an unregistered gift deed with no witnesses was insufficient evidence, especially when donor was deceased.
The Income Tax Appellate Tribunal has allowed a tax appeal by Workenstein Collaborative Spaces Pvt. Ltd., ruling that a company cannot be held responsible for its suppliers’ failure to file returns or respond to notices.
In a landmark ruling, the Income Tax Appellate Tribunal has held that tax disallowance under Section 14A must be limited to investments that yielded exempt income, dismissing the tax department’s appeal against Nippon Life.
