Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
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 : 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 Pune held that the reassessment proceedings were invalid because the notice under Section 148 was approved by the Principal C...
Income Tax : ITAT held that interest earned by a co-operative credit society from deposits with a co-operative bank remained attributable to it...
Income Tax : Gujarat High Court held that rejection of a Vivad se Vishwas declaration was invalid because final assessment arose from survey pr...
Income Tax : The High Court set aside the assessment order, demand notice, and bank attachment after finding that the proceedings were complete...
Income Tax : The ITAT held that the Assessing Officer failed to produce any material establishing a connection between the assessee and the all...
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...
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.
ITAT Ahmedabad rules no tax on cash deposits from relatives if affidavits provided. Sakina Ahmedali Kantavala vs ITO case highlights proper affidavit usage in tax assessments.
ITAT Mumbai rules no disallowance under Section 14A for investments not yielding tax-free income. Detailed analysis of DCIT vs Paranjapee Schemes case.
Read the detailed analysis of Late Lodaya Navalbai Vs ITO case by ITAT Bangalore. Learn why the reassessment proceedings were quashed and its implications.
Read the detailed analysis of ITAT Ahmedabad’s order canceling penalty under section 271(1)(c) of the Income Tax Act. Co-owner status and lack of concealment discussed.
ITAT Chennai’s order regarding the transfer from current to deposit account as non-income, and deletion of addition. Full text of the order provided.
Read the detailed analysis of Chandran Sarath Vs ACIT case by Kerala High Court where no income assessable to tax resulted in the dismissal of appeal. Full judgment text included.
ITAT Delhi directs verification of peak credits in the undisclosed ICICI Bank account in the case of Gulshan Grover vs ITO, addressing unexplained cash deposits.
In the case of DCIT vs. Paranjapee Schemes Construction Ltd., ITAT Mumbai rules no disallowance under Section 14A of the Income Tax Act is warranted for investments not yielding tax-free income.
ITAT Chennai upholds addition on LTCG arising from purchase and sale of shares due to failure to produce documents. Read the full analysis of the case.
