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 Chennai overturns AO’s Rs.53.02 lakh addition to J.K. Jewel Craft’s income, ruling that suspicion alone cannot justify unexplained investment during demonetization.
ITAT Nagpur overturns CIT(A) order, allowing deduction under Section 80P for a cooperative society. The tribunal rules AO’s disallowance was unjustified.
ITAT Chennai held that when the cash is sourced out of recorded sales, the provisions of section 69A of the Income Tax Act could not be invoked since sales have already been offered to tax and taxing same again u/s. 69A would amount to double taxation.
Bangalore ITAT remands case for reassessment of post-demonetization cash deposits by a bar & restaurant owner, directing AO to verify business income claims.
ITAT Raipur held that addition towards unexplained cash deposits under section 69A of the Income Tax Act is liable to be set aside in as much as the source of cash deposits duly explained. Accordingly, appeal restored to AO with direction to re-adjudicate the issue.
Calcutta HC rules that an AO must dispose of an assessee’s objections to reassessment through a speaking order before proceeding with the case.
ITAT Chennai held that material/ information referred by AO in reasons recorded cannot be held to be tangible material hence reopening of assessment under section 147 of the Income Tax Act without tangible material is invalid.
ITAT Mumbai rules that a Section 143(1) adjustment becomes infructuous once a regular assessment under Section 143(3) is completed, especially if the returned income is accepted as the assessed income.
ITAT Mumbai quashes CIT(A)’s order dismissing HPCL’s appeal, citing non-compliance with prior tribunal directives. The case involves interest on refunds and the now-defunct Vivad Se Viswas Scheme. The tribunal mandates a fresh hearing on the merits of the case.
Key ITAT Delhi decision in ACIT Vs Hella India Lighting Ltd.: Analysis of Section 69C addition, expense disallowance, and foreign exchange loss claims for AY 2017-18.
