Income Tax : ITAT Chennai rules unaccounted customer deposits, with traceable identities and commercial substance, are liabilities, not income ...
Income Tax : Budget 2025 revises block assessment rules for search cases, covering undisclosed income, assessment procedures, penalties, and ti...
Income Tax : Explore reintroduction of block assessments under Income Tax Act via Finance Act 2024, its implications, challenges, and way forwa...
Income Tax : Understand the compounding of offences under the Income-tax Act, 1961, including categories, charges, and procedures as per the Fi...
Income Tax : Learn about prosecution under IT Act sections 275A to 280, including penalties and conditions for launching prosecution....
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : ITAT Delhi held that in absence of original certificate, benefit of jewellery and ornaments declared in VDIS Scheme 1997 is grante...
Income Tax : Held that the AO seeks to disallow expenses on account of doubting the genuineness for the reason that the same were not incurred ...
Income Tax : ITAT Delhi held that addition made under section 153A of the Income Tax Act are bad-in-law in absence of any incriminating materia...
Income Tax : Delhi High Court held that since AY 2012-13 falls beyond the block of ten years that are required to be reckoned from the end of t...
Income Tax : The Delhi High Court quashed a reassessment notice issued to Janus Infrastructure Projects for AY 2014-15, as it exceeded the 10-y...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
ITAT Mumbai upheld CIT(A)’s rulings in ACIT vs GM Modular Pvt. Ltd., addressing unverified purchases, PF/ESI disallowances, and incriminating material in search cases.
Allahabad HC upheld ITAT’s decision in PCIT vs Sapna Gupta, ruling the Section 153D approval was mechanical, invalidating the assessment proceedings.
Gulshan Investment Pvt. Ltd. Vs JCIT (OSD) (ITAT Delhi) No Addition u/s 153A without incriminating material found during search – Statements of third parties not sufficient: ITAT Delhi Gulshan Investment Pvt. Ltd & others Vs JCIT -ITA No.3872/Del/2024 dt 16.4.25 The core dispute involves additions made by the AO u/s 153A following a search & […]
Aggrieved against the directions of CIT(A) to the AO for assessment of gross profit on unaccounted sales of unaccounted purchases and enhancement on account of disallowance of cash payment u/s.40A(3) of the Act, the assessee came in appeal before the Tribunal.
The JDA was signed between one Mr. U.K. Hasanabba and Mr. U. Ibrahim on one side as landowners and Mr. Abdul Khader K (on behalf of the assessee) and Mr. K. Hussain Abbas (on behalf of the HNGC Builders and Developers).
Bombay High Court held that Court cannot exercise its discretionary jurisdiction to restrain income tax officers from proceedings with assessment proceedings where huge unaccounted income in accommodation entry has been detected.
Madras High Court sets aside IT assessment orders for Vetrivel Minerals citing lack of incriminating evidence and breach of natural justice principles.
Delhi High Court held that section 153C of the Income Tax Act doesn’t required AO to find or uncover a relationship or an association between the searched and the non-searched person.
ITAT Chennai rules on Sakthi Realty case, deleting additions for unexplained deposits. Details on customer deposits, tax assessment, and tribunal’s decision.
ITAT Chennai rules unaccounted customer deposits, with traceable identities and commercial substance, are liabilities, not income under Section 68.
