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 Surat held that delay in filing of an appeal before CIT(A) since the assessee was displaced from his office due to attachment of office on account of some purported fraud committed by him is sufficient cause.
As the assessee had not submitted his explanation with respect to cash deposit made by him during the demonetization period, the same was treated as unexplained money u/s 69A of the Act.
ITAT Chennai held that only peak credit to be considered and no further addition to be made in case of circular transaction since bank account of appellant’s father duly considered for the purpose of calculating peak credit in the hands of assessee.
Addition of Rs.10 Crore under Section 271(1)(c) was not justified as Revenue failed to specify whether the addition was being made alleging concealment of income or for furnishing inaccurate particulars of income.
The AO added excise duty and sales tax to the total turnover while excluding lease rent and other incomes, categorizing them as “Income from Other Sources” rather than “Business Income”.
ITAT Pune held that penalty under section 271(1)(c)/ 271AAB of the Income Tax Act imposable even in case of voluntary disclosure or declaration or surrender per se of income. Accordingly, appeal filed by revenue allowed.
ITAT Ahmedabad held that CIT(A) dismissed the appeal due to non-compliance of the opportunities granted to the assessee. Accordingly, cost of Rs. 10,000 imposed on the assessee and matter remanded back to CIT(A).
Delhi High Court held that Resale Price Method (RPM) is the most appropriate method when reseller imports goods from its Associated Enterprise (AE) and the goods are sold in the same condition without any value addition.
Allahabad High Court held that no substantial question of law arise since Tribunal after thorough scrutiny concluded that invocation of revisionary proceedings u/s. 263 by PCIT was without any base. Thus, appeal filed by revenue dismissed.
ITAT dismisses Revenue’s tax appeal due to jurisdiction issues, allowing the revenue to approach the appropriate bench for further action.
