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...
Delhi High Court held that it is settled legal position that re-assessment proceedings under section 148 of the Income Tax Act cannot be triggered on the aspects which AO has already formed an opinion. Accordingly, notice issued u/s 148 set aside.
ITAT Delhi rules in favor of a Canadian resident, allowing them to benefit from the India-Canada Double Taxation Avoidance Agreement (DTAA). Learn more in this article.
ITAT Jaipur dismisses Chiranji Lal Bairwa’s appeal due to non-compliance with ITD notice for determining land value under section 50C of Income Tax Act. Details of the case and the ruling.
Kerala High Court dismisses writ petition, upholding the validity of reassessment notices sent to the registered email address with the Income Tax Department.
ITAT Ahmedabad held that once the Income Tax Settlement Commission has passed final order u/s. 245D of the Income Tax Act, AO has no jurisdiction to reopen the same u/s. 148 of the Income Tax Act.
ITAT Ahmedabad held that rejection of books of accounts merely for not providing stock details in desired format and without bringing any corroborative material on record suggesting specific defect in the books of accounts is unjustified.
In the case of Syed Nadeem Abbas Vs ITO, ITAT Delhi orders re-adjudication due to incorrect email addresses for hearing notices, ensuring natural justice.
Explore case of Manjeet Kaur vs ITO, where a penalty under Section 271(1)(b) was contested due to a reasonable cause amid Covid-19. Full ITAT Jaipur order analysis.
The ITAT Delhi directs re-evaluation of the nature of sold land in the Chander Mani Sharma Vs ITO case, emphasizing the importance of the sale deed for determining agricultural status.
In Narayan Dattarao Giram Vs ITO, ITAT Pune grants the assessee another chance due to a Chartered Accountant change resulting in non-receipt of notices.
