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 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 : ITAT Delhi held that interest and dividend earned from co-operative banks qualify for deduction under Section 80P(2)(d). Totgar's ...
Income Tax : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
ITAT upheld taxation of IPS and CEV subsidies following the Section 2(24) amendment, while partly allowing the appeal on other issues.
The Tribunal ruled that a penalty notice lacking a specific allegation of under-reporting, misreporting, or the applicable clause under Section 271AAB is legally defective. It held that such notices violate the requirement of providing a meaningful opportunity of defence.
ITAT held that Section 154 cannot be used where applicability of Section 167B requires factual examination, making the issue debatable and not a mistake apparent.
ITAT Mumbai held that a deduction claim supported by prevailing judicial precedents cannot attract Section 270A penalty merely because a later retrospective amendment made the claim inadmissible. The penalty for under-reporting of income was deleted.
ITAT deleted the Section 68 addition after holding that the assessee fully established the lender, source of funds and genuineness.
ITAT ruled that a justice-oriented approach should prevail over technical objections. Matter remanded for adjudication on merits.
ITAT ruled that genuine sale proceeds supported by books, bank records and purchaser details cannot be treated as unexplained cash credits.
Chhattisgarh High Court upheld ITAT’s finding that the reassessment order exceeded the limitation under Section 153 and dismissed the Revenue’s appeal.
Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Group and covered Assessment Years (AYs) 2020-21 to 2023-24. Although several legal grounds were initially raised, the assessees did not press those grounds during the hearing. Accordingly, the Income Tax Appellate Tribunal (ITAT), Chandigarh, confined itself to deciding […]
ITAT held the assessment time-barred as the AO failed to pass the final order within the mandatory timeline under Section 144C(13).
