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 Delhi held that reassessment proceedings beyond the prescribed period were invalid where alleged escaped income arose from unaccounted sales and not from assets. The Tribunal ruled that conditions under Sections 149 and 153A were not satisfied, leading to quashing of multiple reassessment notices.
The ITAT held that a penalty notice without specifying whether the case involved under-reporting or misreporting of income is legally unsustainable. The Tribunal ruled that such defective notices are void-ab-initio and cannot support penalty proceedings.
When an educational society was found to be substantially engaged in genuine charitable activities, its exemption could not be denied under Section 13(1)(b) simply because a few specific expenditures happened to benefit individuals from a particular religious community.
Bangalore ITAT held that once ownership of agricultural land and cultivation activities are accepted, reasonable agricultural income cannot be rejected altogether. The Tribunal allowed relief for income from rubber plantation activities.
Tribunal directed inclusion of Cyber Media Research Limited after finding that market research and consultancy services were comparable to the assessee’s support service activities. Earlier Tribunal rulings supporting comparability were followed.
The Delhi ITAT deleted addition made under Section 68 on alleged bogus purchases linked to accommodation entry providers. The Tribunal held that purchases and corresponding sales were already recorded in the books, leaving no basis for separate addition under Section 68.
The Tribunal noted that an adjustment under Section 35(1)(iv), already dropped during CPC processing, was later included in assessment computation without fresh notice to the assessee.
Mumbai ITAT held that disallowance under Section 40(a)(ia) cannot be made where expenditure remains part of work-in-progress and is not claimed in the profit and loss account. The Tribunal upheld adjustment of WIP instead of direct addition to income.
The Kolkata ITAT held that reassessment proceedings were invalid where the reasons initially supplied related to a different company and the reopening was based on mechanical satisfaction. The Tribunal ruled that borrowed satisfaction without independent application of mind cannot justify reopening under Sections 147 and 148.
The Tribunal ruled that once transfer was held to have occurred in 1993 through the sale agreement, the Assessing Officer could not tax capital gains in Assessment Year 2007-08.
