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...
ITAT Delhi remits ex-parte order against Sohanvir Singh to AO, citing denial of adequate opportunity of being heard, upholding natural justice.
During the year, assessee has entered into several international transactions as per Form 3CEB and after analyzing the transactions under consideration. By relying on various decisions, TPO has rejected the submissions of the assessee.
ITAT Surat confirms ₹4.10 Cr addition u/s 69 for unexplained investment, upholds authority to dismiss cases for non-compliance.
ITAT Chennai restricts income addition to 25% of unexplained cash deposit, as assessee failed to establish source of funds during demonetization.
ITAT Ahmedabad remands Rs. 18.47 Cr addition for fresh adjudication, citing invalid assessment order issued in the name of a deceased person.
ITAT Ahmedabad sets aside CIT(A) order, emphasizing that genuine explanations for delays in filing appeals for high-value tax disputes must be considered.
ITAT Delhi held that mere confession of accused cannot be a ground for conviction since the same is not supported by credible evidence on records. Accordingly, addition under section 69 of the Income Tax Act deleted.
ITAT Cochin deletes penalty under Section 271B for delayed tax audit, citing the demise of the managing partner as a reasonable cause and following Kerala HC precedent.
Patna High Court held that reassessment proceedings initiated on the basis of incorrect information which was not supported by any material is not sustainable in law. Accordingly, order passed thereon is liable to be quashed.
ITAT Panaji remands case of Salim Ali Darugar vs. ITO concerning addition under Section 69A for unexplained demonetization cash deposits.
