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 remands ₹42.26 lakh cash deposit case for fresh hearing, citing non-receipt of notices. Directions issued to AO for a detailed review and proper opportunity.
Bombay High Court held that assessment order passed after expiry of period of limitation as prescribed under section 153 of the Income Tax Act read with first proviso below explanation 1 is barred by limitation. Accordingly, petition succeeds.
ITAT Delhi quashes income tax reassessment order due to non-compliance with mandatory application of mind under Section 151.
The ITAT Ahmedabad remanded the Jasvant Baraiya case for reassessment under Section 69A of the Income Tax Act due to procedural non-compliance and appeal disputes.
ITAT Ahmedabad remands case for de novo assessment on non-compliance by assessee, upholding cash payment and transport expense disallowances.
ITAT Ahmedabad restored the matter back to AO for fresh adjudication but imposed cost of Rs. 10,000 for lack of diligence during assessment and appellate proceedings on the part of the assessee.
ITAT Delhi held that transfer of case of the assessee would not be permissible to another Assessing Officer without a decentralization order or transfer order under Section 127 of the Act is liable to be set aside on the ground of jurisdictional error.
It was claimed that the notice under Section 148 was time-barred, reasons recorded under Section 147 were vague, and proper show-cause notices were not issued, violating Section 144B.
ITAT quashes S.263 revision order and annuls CIT(A) order in Kolet Resort Club Pvt Ltd case due to invalid assessment for AY 2015-16.
ITAT Surat held that disallowance of unaccounted purchases restricted to 12.5% of purchases instead of 25% as held by CIT(A). Accordingly, addition towards unaccounted purchases restricted.
