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...
ITAT Jaipur held that initiation of penalty proceedings u/s. 271AAB(1A) of the Income Tax Act without specifying the ground and default on the part of the assessee and also without specifying the undisclosed income on which penalty was proposed to be levied is unsustainable-in-law.
Addition under section 69A on account of actual cash arranged/paid by assessee to HKA was available with the assessee was not justified as “ownership” of money had not been recorded in the books of account and AO had made only presumption that the said cash was ‘available with the assessee’ without bringing on record any material in support thereof.
Explore the legal battle of Shadawal Enterprises vs CIT in ITAT Mumbai. Analysis of unexplained expenses, eviction, and conclusion. Learn about the crucial remand for a fair decision
The Dispute Resolution Panel (DRP) order passed without Document Identification Number (DIN) number should be treated as invalid and was contrary to the CBDT Circular No.19/2019 dated 14th August 2019 as it was clear in the body of DRP order, no DIN number was mentioned nor there was any reason of not mentioning the DIN number in order of the DRP.
Deduction under Section 57 was allowable on the cost of funds and proportionate administrative expenses for earning interest income to the extent of Rs.9,05,550/-.
ITAT Chennai held that reopening after expiry of 4 years, without establishing any failure on part of the assessee to disclose any material facts necessary for its assessment, is bad-in-law and liable to be quashed.
In a crucial decision, ITAT Dehradun quashes reassessment in Uttarakhand Purv Sainik Kalyan Nigam Ltd vs. ITO case. Analysis of Section 151 approval absence and its implications.
Explore ITAT Delhi’s ruling limiting deemed dividend addition to shareholders. Details on assessment years 2013-14, 2014-15, and 2015-16. Full text analysis.
The ITAT Pune bench rejects depreciation claim on goodwill in Millennium Engineers & Contractors vs. DCIT case. Detailed analysis of the judgment and its implications.
ITAT Mumbai held that the amount of interest u/s. 244A of the Income Tax Act is to be calculated by first adjusting the amount of refund already granted towards the interest component and balance left if any shall be adjusted towards the tax component.
