Income Tax : ITAT Bangalore held that disallowance of agricultural expenses based on estimation is unsustainable without concrete evidence, rul...
Income Tax : Understand the implications of receiving a notice under Section 143(2) of the Income Tax Act. Learn how to respond, time limits, a...
Income Tax : Article discusses about Order which can be rectified under section 154 of Income Tax Act, 1961, Rectification of Income Tax order ...
Income Tax : Explore the implications of taxation under section 115BBE, including misuse of sections 68 to 69D, consequences of high tax rates,...
Income Tax : Every taxpayer has to furnish the details of his income to the Income-tax Department. These details are to be furnished by filing ...
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 Ahmedabad held that genuineness of transaction, creditworthiness and identity of creditors not proved, hence addition u/s. 68...
Income Tax : Karnataka High Court held that settlement commission, accepting additional income offered as reasonable and giving immunity from p...
Income Tax : ITAT Pune restored the assessment order as assessee neither filed any evidence nor provided material in an attempt to discharge th...
Income Tax : Rajasthan HC upholds penalty under Section 271(1)(c) of the Income Tax Act, 1961 for unexplained cash deposits after withdrawals. ...
Income Tax : ITAT Delhi held that the condition of make available was not satisfied for services when provided by assessee did not enabled the ...
Income Tax : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
Since the legislature vested the discretion to extend the timeframe solely in the AO, he could not have abdicated that function and confined his role to only making a recommendation to the CIT. CIT had no role in extending the timeframe as the AO was in seisin of the assessment proceedings.
Delhi High Court accepts returned income for 12 years as limitation period for fresh assessment order expires. Details of Indian Renewable Energy Development Agency Ltd vs PCIT case.
ITAT Mumbai held that receipt of Rs 37 crores of exempt capital gain in a non-descript listed company operated by the accommodation entry provider, who has confessed that he has provided accommodations entries to the beneficiaries, including assessee remanded back to the file of AO for further enquiry.
Explore landmark case of Godaddy.Com LLC v. ACIT [2023] and learn why Delhi High Court ruled domain registration fees as not royalty. Get insights on the decision.
Karnataka High Court held that reassessment proceedings cannot be in the nature of review and accordingly, the material as has come to light in the assessment proceedings for the Assessment Year 2008- 2009 cannot be a sufficient ground to resort to reassessment proceedings.
ITAT Delhi held that without pointing out any specific defect in the audited books of accounts, AO cannot and should not make any estimated addition. Accordingly, such estimated addition deleted.
Madras High Court held that order passed without granting video conference hearing as sought by the petitioner is unsustainable as it is clearly violation of principles of natural justice.
ITAT Chennai held that disallowance of interest u/s 36(1)(iii) of the Income Tax Act on loans and advances given to subsidiary company unjustified as investment in subsidiary is purely for commercial expediency.
ITAT Jaipur held that non-deposit of employees contribution to ESI and PF within due date as per the respective Act is disallowance by invoking provisions of section 36(1)(va) r.w.s. 2(24)(x) of the Income Tax Act.
Bombay High Court quashes reopening proceedings in Shanmukhananda Fine Arts vs Dy. Director of Income Tax, citing income already declared in the ITR. Detailed analysis.
