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 : This guide explains the various assessments under the Income-tax Act, including summary assessment, scrutiny assessment, best judg...
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 : 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 : Bangalore ITAT held that mine development expenditure incurred by a mining contractor was allowable as a revenue deduction under S...
Income Tax : Bangalore ITAT held that cash redeposited during demonetisation could not be treated as unexplained under Section 69A when the ass...
Income Tax : Bangalore ITAT deleted the addition under Section 69A after holding that the assessee had satisfactorily explained the source of c...
Income Tax : The ITAT ruled that failure to produce confirmations from debtors did not justify additions where sales, ledger accounts, and samp...
Income Tax : The ITAT ruled that bonus payments recorded in a separate bonus ledger, audit report, and profit and loss account could not be dis...
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 both the conditions u/s 147 of the Income Tax Act needs to be satisfied for initiation of re-assessment after four years from the end of the relevant assessment year. Here, as assessee has disclosed fully and truly all the material facts, re-assessment proceedings couldn’t be sustained.
ITAT Mumbai held that assessee going through resolution process has failed to comply with various notices issued by lower authorities. Accordingly, it is directed to give one last opportunity to present their case before AO. Assessee is also directed to pay the cost for being delinquent before lower authorities.
ITAT Hyderabad held that delay of 988 days in filing of the appeal cannot be condoned on the basis of vague reason.
ITAT Bangalore held that the amount paid by Google India Private Limited (GIPL) to M/s. Google LLC (US) towards seconded employees doesn’t come under the purview of FTS (Fees for Technical Services) or FIS (Fees for Included Services) under the Income Tax Act or under DTAA.
ITAT Kolkata held that dismissal of assessment order passed under section 143(3) on erroneous reasoning that dispute was resolved via Vivad Se Vishwas Scheme. Fresh adjudication directed to decide all the appeals on merits.
Bombay High Court held that reopening of assessment under section 148 in absence of any new information received by AO between the date of assessment order u/s 143(3) till the issuance of notice u/s 148 is unjustified and untenable in law.
ITAT Mumbai held that denial of exemption under section 10(23C) of the Income Tax Act on allegation of bogus donation unsustainable in absence of evidence that donation made by assessee to those trust are bogus.
ITAT Mumbai held that addition merely on the basis of confession during the course of search operation without supporting evidence is unsustainable in law.
ITAT Mumbai held that re-opening of assessment without ‘reason to believe’ simply based on the information from DGIT(Inv.) is untenable in law.
ITAT Jaipur held that disallowance of marketing and survey expenditure merely because of non-production of the concerned party whose identity is proved is unsustainable in law.
