Income Tax : Section 145(3) allows rejection of books if accounts are unreliable or standards are not followed. The key takeaway is that specif...
Income Tax : The Tribunal held that cash deposits cannot be treated as unexplained income unless books of account are formally rejected under s...
Income Tax : Learn about various types of income tax assessments under Sections 143, 144, and 147, their procedures, time limits, and taxpayer ...
Income Tax : Summary of statutory deadlines for issuing income tax notices (Sec 143, 147) and completing assessments, reassessments, and appeal...
Income Tax : Understand the three core processes of Indian Income Tax: Rectification of mistakes (Sec 154), the four types of Assessment (Summa...
Income Tax : Starting October 1, 2024, Commissioners (Appeals) will gain new powers to set aside and refer best judgment assessments back to As...
Income Tax : ITAT Hyderabad holds 12.5% profit estimation on ₹2.52 crore bank credits excessive; rejects commission agent claim due to lack o...
Income Tax : ITAT Hyderabad holds that Section 249(4)(b) cannot bar appeal where no income is admitted and no advance tax is payable; sets asid...
Income Tax : The Tribunal restored the case as the CIT(A) confirmed additions without granting adequate opportunity of hearing. It held that fa...
Income Tax : The tribunal held that cash deposits cannot be treated as unexplained when sufficient recorded cash receipts exist. Once books sup...
Income Tax : The High Court quashed assessment and penalty orders after finding notices were sent to an incorrect email address. It held that i...
Income Tax : ITAT Chandigarh held that ITO Ward-3(1), Chandigarh had no jurisdiction to issue notice to an NRI and hence consequently the asses...
Read the full text of ITAT Ahmedabad’s order where the delay in filing an appeal by the assessee was condoned due to CA negligence. Details on the case and implications.
Merely because certain cash was deposited in the specified bank notes by the assessee during the demonetization period will not make the assessee tainted party when the very same transaction are being made by the assessee in the part as well as in the future.
Delhi ITAT rules in Ares Diversified Vs ACIT that rejection of belated objections by DRP does not extend the limitation for passing final assessment U/s 144(4).
Read a detailed analysis of the ITAT Kolkata decision in Littlestar Projects Pvt. Ltd Vs ITO. Understand the implications of the ruling and its impact on taxation matters.
Karnataka High Court rules assessment orders against deceased null and void. Review of SMT. Sowmya S Vs ITO case, implications, and legal insights.
Read the full judgment of Kerala High Court on Mammed Komban vs. National Faceless Assessment Center. Analysis of assessment order violations under Income Tax Act sec. 147.
ITAT Delhi quashes reassessment proceedings against Chaudhary Stone Crusher, ruling on sale of partners property before IT notice under section 148.
Read the detailed analysis of Sumit Maheshwari Vs ITO case where ITAT Delhi deletes penalty u/s 271(1)(b) of Income Tax Act due to failure in serving notice.
Gokal Chand Rattan Chand vs. Union of India: Detailed analysis of Punjab & Haryana High Court’s judgment on non-existent tax order & auction.
Calcutta High Court stays Section 148 notice for 2016-17 due to limitation issues and pending appeal. Jurisdictional conflicts lead to stay on further proceedings.
