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 dismisses Canpac Trends’ appeal on share premium addition under Section 56(2)(viib). No submissions made by the appellant.
The ECB purpose was declared to the RBI for both imported and locally sourced capital goods. However, the claim was disallowed under Section 143(1) due to inconsistencies between the tax audit report and the return of income.
ITAT Pune held that satisfaction note is required to be recorded u/s.153C for each assessment year, thus, recording of consolidated satisfaction note for different assessment years (AY) would vitiate the entire assessment proceedings.
ITAT Jaipur held that addition towards undisclosed income rightly sustained since assessee failed to explain the incriminating material found during the course of search. Penalty under section 271AAB too sustained.
ITAT Delhi held that CIT(E) has rejected application for registration u/s. 80G(5)(iii) of the Income Tax Act without giving cogent reason by disposing the matter in hyper technical manner without discussing on merits is not tenable in law.
Orissa HC dismisses Revenue appeal in CIT vs Dhaneswar Rath. Upholds ITAT, rules Sec 263 revision invalid based on consistency & prior allowance of depreciation.
In Peter Vaz vs CIT, Bombay HC rules ITAT erred in barring Sec 153C challenge & refusing delay condonation. Cites Rule 27, Balakrishnan (SC). Matter remanded.
Gujarat High Court held that re-opening of assessment solely relying upon information made available on the insight portal, without forming any independent opinion, is unsustainable in law and hence liable to be quashed.
ITAT Jaipur held that reasons recorded for selecting case for scrutiny never mentioned that case was selected for limited scrutiny hence approval for conversion not required. Matter remanded to CIT(A) to decide case based on merits.
Accordingly, the A.O vide his order passed u/s.143(3) of the Act, dated 26.12.2018, after making the aforesaid addition determined the income of the assessee firm at Rs.20,98,730/-.
