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 deleted the addition after holding that a retracted statement alone could not justify it where documentary evidence supporting purchases remained uncontroverted.
Provisions that were typically restricted or viewed as contingent become fully deductible business expenses the moment they were quantified, crystallized, and physically paid out before the tax return filing deadline. Revenue could not arbitrarily disallow a flat percentage of direct operational or employee welfare expenses based on general suspicion.
ITAT held that low declared income alone cannot negate creditworthiness where loans were genuine, documented, received and repaid through banking channels.
ITAT held that a clerical error in selecting the wrong ITR column cannot defeat an otherwise valid deduction under Section 80P(2)(a)(i).
ITAT held no TDS was required as the Revenue failed to prove the services made technical knowledge available under the India-US DTAA.
The ITAT held that Section 54 exemption must be examined separately for each residential house sold. The benefit cannot be restricted to one new house merely because multiple houses were transferred.
ITAT held that interest earned from scheduled and co-operative banks was attributable to the society’s business of providing credit facilities and qualified for deduction under Section 80P(2)(a)(i).
ITAT held that remuneration to trustees must be examined for reasonableness and cannot be disallowed merely because it was paid to specified persons.
ITAT confirmed the Section 69A addition after the assessee failed to produce evidence identifying the alleged farmers or explaining the source of ₹23 lakh.
ITAT held that agricultural land within the prescribed municipal distance is a capital asset and restricted the on-money addition to the amount supported by evidence.
