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 Ahmedabad held that denial of deduction u/s. 80IB(10) of the Income Tax Act alleging non-completion of some blocks unjustified as separate building planning permission were obtained by assessee from Local Authority namely AMC for each Block as a separate housing project.
ITAT Delhi held that assuming jurisdiction under section 147 of the Income Tax Act without new tangible material is unsustainable and hence the entire reassessment is null and void.
ITAT Mumbai held that addition towards difference of share premium u/s. 56(2)(viib) of the Act by rejecting the valuation determined by the assessee without referring the matter for valuation to DVO is unjustified. Matter remanded for referring the same to DVO.
ITAT Delhi held that salary income not taxable in India both u/s. 9(1) as services are rendered outside India and also not taxable under Article 15(1) of India-Netherland DTAA as required conditions satisfied.
ITAT Delhi held that once long term capital gain along with cost of acquisition and indexation accepted in the hands of one of the co-owner of the property, the same needs to be allowed/ accepted for other co-owner of the property too.
Bombay High Court held that the reopening of the assessment order based on change of opinion without surfacing of any tangible new information is unsustainable in law and liable to be set aside.
ITAT Ahmedabad held that Sale/ conversion of business of assessee-firm as a going concern to company for consideration of paid up share capital does not amount to transfer liable to tax as capital gains.
ITAT Mumbai held that deduction u/s 80G of the Income Tax Act duly available irrelevant of the fact that corpus contribution to the donee relates to the CSR activities.
ITAT Pune held that invocation of revisionary jurisdiction u/s. 263 of the Income Tax Act unjustified when AO examined the claim and took one of the plausible views and hence the assessment order cannot be termed as an “erroneous”.
In this article, we discuss case of Hasmukh Kanjibhai Tadhani Vs ITO (ITAT Surat) involving cash deposits during demonetization, with detailed analysis and outcome
