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 Mumbai dismissed Revenue’s appeal, upholding deletion of a Rs. 16 lakh penalty against Micro Plantea Limited due to a lack of incriminating material in a search assessment.
ITAT Chandigarh partly allows Sky AMA Infra appeal: confirms Sec 14A disallowance for normal income but deletes MAT adjustment citing Vireet Investments precedent.
ITAT Bangalore quashes assessments against Blueline Foods, ruling that a survey is not a valid search and that a panchanama in the company’s name is required.
ITAT Mumbai held that trade receivable shown as net of provision for doubtful debts would not be hit by section 115JB(i) of the Income Tax Act. Accordingly, addition of provision of bad and doubtful debts to book profits computed u/s. 115JB not sustained.
ITAT Bangalore held that revisionary proceeding by PCIT under section 263 of the Income tax Act treating assessment order erroneous and prejudicial to interest of revenue upheld since assessee could not demonstrate that the equipment’s were received on returnable basis.
ITAT Rajkot held that appellate authorities have power to entertain fresh claim and accordingly, claim of erroneously addition to computation of income accepted and direction given to AO to determine taxable income of assessee afresh.
It is settled proposition of law that CBDT circulars are binding on department and it has to be strictly followed by officers of department. AO cannot be permitted to travel beyond the issues for which case was selected for limited scrutiny without taking mandatory permission from concerned PCIT or Pr.CCIT.
The ITAT Mumbai has set aside a Rs. 2.55 crore tax order against Gemini Dyeing and Printing Mills, ruling the company was denied a reasonable opportunity for hearing.
The ITAT Mumbai has upheld a decision to restrict a bogus purchase addition to a 12.5% gross profit rate, citing a Bombay High Court precedent, in the case of DCIT vs. S. Rasiklal and Co.
ITAT Ahmedabad dismisses a revenue appeal, upholding the deletion of a ₹1.5 crore addition. The tribunal ruled the amount was a loan given, not a cash credit received.
