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 Chennai held that no findings have been rendered on various documentary evidences furnished by the assessee. Accordingly, matter restored in view of violation of the principle of natural justice.
Rajasthan High Court held that addition on account of bogus accommodation entries merely based on admission of assessee in absence of any corroborative evidence unjustified. Thus, addition held as unsustainable.
ITAT Pune held that exemption under section 54F of the Income Tax Act entirely allowed as entire amount re-invested by the assessee and name of the son taken only as a proforma purchaser.
ITAT Bangalore held that confirmation not containing PAN cannot be reason for addition as the confirmations were available with the AO and if he had any doubt regarding he could have again verified with the creditors. Addition in respect of creditors deleted.
The case of assessee-company was that originally the assessment was transferred to the National e-Assessment Centre and notices were issued by the National e-Assessment Centre, New Delhi.
ITAT Ahmedabad held that addition towards unsecured loan where loan was repaid is unsustainable, whereas, addition where assessee failed to demonstrate repayment or interest payment to creditor sustained.
ITAT Ahmedabad held that additional evidence reconciling the discrepancy in receipts as per Form No. 26AS and books of accounts were not submitted before AO or CIT(A). Accordingly, matter send back to CIT(A).
Where an agricultural land was sold to a non-agriculturist, the same did not loose its status as agricultural land and could not be classified as a capital assets.
ITAT Hyderabad held that the Tribunal has no power to recall/review its own orders in terms of scope and power of Tribunal for rectification of order u/s. 254(2) of the Income Tax Act.
ITAT Ahmedabad held that expenditure incurred on software project, which was sought to be developed however never came into existence and no new asset came into existence which would be of an enduring benefit to the assessee, are allowable as revenue in nature.
