Income Tax : Practical guide to tax audit under Section 44AB for trader assessees, covering groundwork, data analysis, compliance checks, and f...
Income Tax : Summary of the judgement About the assessee The assessee is a limited liability company engaged in the business of manufacture and...
Income Tax : Deduction of TDS and Taxability of the same; An Analysis of section 198 and 145 of Income tax 1961. As per basic understanding, th...
Income Tax : Self assessment - The assessee is required to make a self assessment and pay the tax on the basis of the returns furnished. Any ta...
Income Tax : ♦ Section 145A of Income Tax Act, 1961 ‘145A. Method of accounting in certain cases.—Notwithstanding anything to the contra...
Income Tax : ITAT Kolkata held that extensive documentary evidence, audited books, supplier confirmations and banking records established the g...
Income Tax : Bangalore ITAT held that mine development expenditure incurred by a mining contractor was allowable as a revenue deduction under S...
Income Tax : The ITAT Raipur held that estimated gross profit addition on unrecorded sales cannot be sustained when the Assessing Officer has n...
Income Tax : Additions made by attributing the commission income earned by PSPL as undisclosed income of the Assessees were held unsustainable ...
Income Tax : The Tribunal emphasized that detailed quantitative reconciliation and accepted export realizations carried substantial evidentiary...
Explore the ITAT Bangalore order in Belur Urban Co-operative Bank vs ITO. Learn why reassessment on interest in NPA loans is directed for readjudication. Full text available.
Read the full text of ITAT Hyderabad’s order in Pennar Industries Ltd vs DCIT case for A.Y.2018-19. Unbilled revenue cannot be considered income once written off.
In a landmark judgment, Supreme Court rules against adverse possession claims by tenants. Detailed analysis of Brij Narayan Shukla vs. Sudesh Kumar case.
ITAT Jaipur held that non-deposit of employees contribution to ESI and PF within due date as per the respective Act is disallowance by invoking provisions of section 36(1)(va) r.w.s. 2(24)(x) of the Income Tax Act.
ITAT Delhi held that ‘mark to market’ loss on future and forward contracts are not notional loss of contingent nature. Accordingly, foreign exchange fluctuation loss as claimed by the assessee allowed.
Delhi High Court granted the bail to the petitioner (Chartered Accountant) under Prevention of Money Laundering Act 2022 based on the plea of the petitioner that he has acted on the basis of information and records provided by his client.
ITAT Bangalore held that as assessee has no right to receive the interest accrued on Fixed Deposits due to prohibitory order, the same is not taxable.
Bombay High Court held that subject to doctrine of unjust enrichment, the taxes illegally levied must be refunded.
ITAT Mumbai held that in case of company is involved in providing illicit LTCG/ short term capital loss (accommodation entries), a substantial addition has to be made in the hands of beneficiaries and only a protective assessment can be made in the hands of company providing such accommodation entries.
Review of the ITAT Delhi’s decision on Arrow Manpower Services case. Discussion on the disallowance of depreciation claim and implications of the verdict.
