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...
ITAT Delhi passed a significant judgment in ITO Vs Essjay Enterprises, focusing on classification of income derived from sale of agricultural land and shares.
ITAT questioned whether notice issued under section 263 of the Act was properly served to assessee, as this is fundamental for upholding principles of natural justice.
Review of ITAT Mumbai’s ruling in Kamlesh Vasant Nerkar Vs CIT, emphasizing the need for AO to recognize income that has been adequately explained by the taxpayer.
In present facts of the case, it was observed by the Tribunal that only Assessee could sign Form number 35A prescribed under Income Tax (Dispute Resolution Panel) Rules, 2009.
ITAT Chennai’s landmark decision on the non-issuance of notice to Arunachalam, underlining the importance of natural justice in tax proceedings.
ITAT Delhi reviews Inderjeet vs ITO case: Decision on withdrawals & redeposits for property deals. ITAT deletes addition under section 69.
Gujarat High Court held that notice issued just two days before expiry of limitation and giving only one day time to provide the defence reply is unjustified as petitioner is not granted reasonable opportunity of being heard.
ITAT Hyderabad rules on Rotodyne Engineering’s appeal, emphasizing the impact of the COVID pandemic on document submission for tax assessments.
ITAT Indore grants a new opportunity to rectify Form 35 mistakes, emphasizing a fair appeal process in Vijesh Samule Vs ITO. Read the full order here.
ITAT Mumbai imposes Rs. 10,000 cost on Hunt International Investments LLC for non-response to notices under section 142(1). Details on the case inside.
