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...
Explore the Kolkata ITAT ruling on Abhishek Shaw Vs ITO, highlighting lapses in faceless assessment and their impact on effective administration.
Madras High Court rules that any order under Sec 144(C)(1) must be a draft assessment; detailed analysis of Ramco Cements Ltd. vs ITO case provided.
ITAT Delhi quashes reassessment initiated by AO on incorrect facts. Full text analysis of Shri Anuj Chaudhary vs ITO case for AY 2009-10.
Indore ITAT clarifies that a firm can’t deny land ownership if bought through directors. Read the detailed analysis of Bagora Developers Pvt. Ltd. Vs ACIT case.
Mumbai ITAT ruling in Canara Bank vs. ACIT case clarifies TDS liability when taxpayer unaware of subsequent TDS certificate. Detailed analysis & implications.
Delhi High Court decrees no income addition without rejecting books of accounts in PCIT Vs Forum Sales Pvt. Ltd., upholding ITAT’s decision.
ITAT Bangalore rules deduction under Section 80P of Income Tax Act requires filing of return of income, dismissing Madhu Souharda Pathina’s appeal.
Explore the case of Gundarlahally Ramesh Meera Vs ITO as ITAT Bangalore directs readjudication due to delay in filing appeal before lower authorities.
ITAT Kolkata revises the net profit rate to 0.50% from 8% applied by the AO for Dulichand Kundanmal in AY 2014-15, emphasizing fair assessment practices.
Kerala High Court dismisses writ petition challenging assessment order under Section 147 of the IT Act, directing appellant to pursue statutory remedy. Full judgment analysis.
