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 Delhi held that reopening of assessment without any link between the tangible material and formation of belief of AO that income has escaped assessment is unsustainable and bad-in-law and hence liable to be quashed.
ITAT Ahmedabad held that addition towards unexplained expenditure unsustainable as impugned amount has already been surrendered by the firm and accepted by the Settlement Commission.
ITAT Raipur held that revisionary proceedings cannot be termed as illegal or not maintainable when the assessee have not responded and remain non-compliant in explaining his case before the PCIT.
Since assessee could not explain how the expenses which were claimed by assessee in the closing stock was allowable i.e., provision in regard to freight expenses payable and labour charges payable.
ITAT Delhi held that invocation of revisionary power u/s. 263 of the Income Tax Act unjustified when AO has exercised its quasi-judicial powers and arrived at a conclusion with reasonable application of mind.
ITAT Visakhapatnam held that addition towards unexplained labour credits sustained as assessee failed to discharge the onus casted on it and failed to produce material evidence with respect to labour payments and material payments.
ITAT Ahmedabad held that once the Income Tax Settlement Commission has passed final order u/s. 245D of the Income Tax Act, AO has no jurisdiction to reopen the same u/s. 148 of the Income Tax Act.
In the case of Bombay Samachar Pvt. Ltd Vs ACIT, ITAT Mumbai rules that valuation of sale consideration must involve a Valuation Officer as per Section 50C of the Income Tax Act.
Vakrangee Foundation faces a penalty for non-compliance with tax audit provisions under Section 44AB. ITAT rules that Section 2(15) does not exempt charitable institutions.
In a significant ruling, ITAT Ahmedabad declares an assessment order void, passed in the name of a non-existent entity after a court-approved amalgamation.
