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 Rajkot allows a 107-day delay in filing an appeal due to the assessee’s health issues and Covid-19, remanding the case to the AO for fresh adjudication.
ITAT Surat quashes CIT(A) order for not considering assessee’s submissions, directing the AO to reassess the case with due opportunity for the assessee.
ITAT Ahmedabad directs reassessment of a ₹44 lakh discrepancy in agricultural income, questioning the Income Tax Department’s examination of the assessee’s operations.
Gujarat High Court quashes assessment for a dissolved company, ruling reopening of assessment invalid under Income Tax Act.
ITAT Agra remands ₹34,803 penalty case under Section 271(1)(c) to CIT(A) for fresh adjudication after setting aside quantum additions for reassessment.
ITAT Ahmedabad sets aside ex-parte NFAC order but imposes ₹10,000 cost on the assessee for failure to justify non-compliance in the appellate stage.
Karnataka High Court held that Assessment Order and other proceedings taken up against the deceased are all null & void. Also held that proceedings initiated against deceased person by issuing notice after demise cannot be continued against the legal representative.
Assessee had satisfactorily explained the source of credits in his books and consequently, CIT(A) had rightly deleted the additions after relying on various judgments made by AO.
ITAT Pune sets aside an ex-parte order against Ahmednagar Auto citing COVID-related non-compliance as a valid reason for non-appearance. Case remanded for review.
Assessee didnot file ITR for AY 2012-13 during which assessee made cash deposit of Rs.45,69,722/-. The case was reopened and notice u/s 148 was sent through e-mail against which no ITR was filed. Hence, AO made addition u/s 69A.
