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...
The issue involved taxing capital gains from a development agreement in multiple years. The court held the same income cannot be taxed twice and set aside the addition subject to verification.
The Tribunal observed disproportionate spending on contractual incentives compared to charity. It directed re-examination of whether such costs served trust objectives. The case highlights scrutiny of administrative expenses.
ITAT Mumbai upheld 12.5% addition on alleged bogus purchases, ruling that only profit element can be taxed since sales were accepted; full disallowance or 25% addition was held excessive and unjustified.
ITAT held that where sales are not disputed, entire purchases cannot be disallowed. Only 15% profit element was taxed, reinforcing that tax applies to real income, not gross receipts.
The Tribunal held that unfinished properties classified as work-in-progress cannot be subjected to notional rent under section 23. Since construction was incomplete, the addition was deleted as legally unsustainable.
The Tribunal held that the Assessing Officer cannot examine issues beyond the scope of limited scrutiny without approval. Since total deposits were assessed instead of only demonetization deposits, the addition was invalid and deleted.
The Tribunal quashed reassessment proceedings as they were based on a mere change of opinion without any fresh tangible material. It held that re-examining already scrutinized facts does not justify reopening under section 147.
The Tribunal held that payments and delivery handled by the assessee’s PA indicated control over the transaction. The absence of evidence supporting the daughter’s role led to confirmation of addition.
The appeal involved a legal challenge regarding absence of notice under Section 143(2). The Tribunal held that failure to adjudicate this issue required fresh consideration and remanded the matter.
The ruling held that telecom voice termination services do not constitute royalty as no secret process or intellectual property is involved. Such receipts are treated as business profits and are not taxable in India without a permanent establishment.
