Income Tax : The article explains remedies available after adverse tax orders under scrutiny and reassessment. The key takeaway is that choosin...
Income Tax : The Court clarified that mere pendency of information exchange requests under DTAA cannot justify continuing a Look Out Circular. ...
Income Tax : A surge in Section 143(2) notices was triggered by the June 2025 limitation deadline. This explains why cases were picked and how ...
Income Tax : The Tribunal ruled that penalty under Section 271A cannot be levied merely because books were rejected and income was estimated. S...
Income Tax : The ITAT held that an assessment completed before receiving the DVO report under section 50C(2) is invalid. All additions and disa...
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 : Tribunal observed that the Assessing Officer failed to establish any mismatch in stock, sales, or accounting records before making...
Income Tax : ITAT Hyderabad held that constituent members of a JV or Consortium can claim deduction under Section 80IA(4) when they actually ex...
Income Tax : The Tribunal found that full payment, TDS deduction, and transfer of possession established completion of the transaction for capi...
Income Tax : ITAT Rajkot held that cash deposits made during demonetization were fully supported by audited books of account, cash books, and b...
Income Tax : The Hyderabad ITAT held that purchases cannot be treated as bogus merely because the supplier failed to respond to a notice under ...
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 was whether penalty under section 271(1)(c) can be levied when bogus purchases are disallowed on an estimated basis. The Tribunal held that estimation does not establish concealment, making the penalty unsustainable.
The case examined additions made in Section 153C assessments based on third-party search material. The Tribunal ruled that additions cannot stand unless incriminating documents are furnished to the assessee.
The case examined whether the Assessing Officer could reject a DCF valuation. The Tribunal held that commercial valuation choices, if legally prescribed and supported, cannot be second-guessed.
The Tribunal held that penalty cannot survive where sales were already offered to tax and later added again under section 68. The key takeaway is that double taxation cannot result in penalty when no tax was sought to be evaded.
The issue was whether final DRP-based assessments passed beyond statutory timelines are valid. The Tribunal held that limitation under Section 144C must be read with Section 153, rendering delayed final orders void.
The issue was whether reassessment could be reopened on matters already examined in scrutiny. The Tribunal held that without fresh tangible material, reopening amounts to change of opinion and is invalid.
The Tribunal deleted the disallowance after finding that work orders, invoices, and bank payments established genuineness of expenses. The ruling clarifies that suspicion alone cannot override documentary evidence.
The issue was whether reassessment could survive when objections to reopening were ignored. The Tribunal ruled that non-disposal of objections violates mandatory procedure and renders the reassessment void ab initio.
The Tribunal held that the case transfer under section 127 was invalid as it was passed by a non-jurisdictional authority. Since jurisdiction itself failed, the entire assessment was declared void ab initio.
The issue was whether penalty can survive once the underlying addition is deleted. The Tribunal held that penalty has no legs to stand when the quantum addition no longer exists.
