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 : Delhi HC held that the settlement consideration as received was liable to be recognized as capital gains and the same couldn’t p...
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 : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
ITAT Mumbai held that deduction claimed u/s. 80P(2)(d) of the Income Tax Act cannot be denied by invoking another sub-section of 80P. Accordingly, disallowance of deduction claimed u/s 80P deleted.
ITAT Jaipur held that ignorance of law and bona fide belief cannot be termed as sufficient cause and hence condonation of delay in filing of an appeal not granted.
Mere completion of assessment under section 143(3) doesn’t automatically merge the intimation under section 143(1) with the assessment order
ITAT Chennai ruled to correct an arithmetical error made during scrutiny assessment, directing the Assessing Officer to allow the full Section 10AA deduction.
ITAT Delhi held that law does not confer any power on the Assessing Officer to either withdraw or modify or substitute one assessment order passed by him earlier with another assessment order subsequently.
Finance Act, 2017 removed clause (i) of section 92BA, effectively nullifying any decisions made by the Assessing Officer under this section. Reference to the TPO under section 92CA also becomes invalid
ITAT rules that an assessee isn’t responsible for a non-responsive supplier when purchases were made in earlier years. Lack of supplier’s response to a section 133(6) notice doesn’t invalidate the transaction.
Read how ITAT Ahmedabad orders fresh adjudication due to non-cooperation of tax consultant in furnishing property investment details in Pravinchandra Naranbhai Patel case.
ITAT Delhi held that software licence fee received as reimbursement, in absence of a Permanent Establishment in India, is not taxable. Accordingly, addition towards the same deleted.
ITAT Bangalore remanded the matter back to AO for fresh consideration as assessee didn’t proved existence of business exigency in making payment in cash and AO didn’t carried necessary enquiry before making addition u/s 40A(3) of the Income Tax Act.
