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 claim of interest u/s. 24b of the Income Tax Act was duly examined during original as well as reassessment pr...
Income Tax : Kerala High Court held that section 245C doesn’t prescribed any prior cut-off date for filing settlement application. Unadjudica...
Income Tax : ITAT Delhi held that granting of single approval under section 153D of the Income Tax Act for difference assessment years and that...
Income Tax : ITAT Hyderabad held that reference to special audit u/sec.142(2A) of the Act dated 31.12.2018 without satisfying the conditions pr...
Income Tax : ITAT Jaipur held that seized cash belongs to the firm and not of the assessee alone and hence invoking provisions of section 69A o...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
Delhi High Court held that the benefit of exclusion of time by virtue of Explanation (ix) of Section 153B of the Income Tax Act cannot be available here as reference made for information under Indo-Swiss DTAA was invalid. Accordingly, questions to law as framed are answered against the Revenue.
Madras High Court held that period of limitation for issuing notice under section 153C of the Income Tax Act to person other than searched person shall be date of receiving books of accounts or documents seized by AO having jurisdiction over such other person.
The issue involved in the present petition is that the Electronic credit ledger of the petitioner was blocked by the impugned order dated 26.03.2025, by invoking Rule 86A of the Central Goods and Services Tax Rules, 2017.
ITAT Bangalore held that provisions of section 45(4) of the Income Tax Act are application only when there is transfer of any asset to the partners account from the firm. Accordingly, section 45(4) cannot be invoked in case of incremental capital brought in by the new partner.
Supreme Court rules 2015 amendment to Income Tax Act’s Section 153C, broadening third-party assessment, is not retrospective; applies only to searches after June 1, 2015.
The Supreme Court clarifies that the six-year tax assessment period for third parties, whose documents are seized, starts from the date their AO receives materials, not the original search date.
ITAT Delhi held that amount withdrawn by the assessee in the capacity of the partner from the partnership firm cannot be treated in the nature of loan and advance and cannot be covered within meaning of deemed dividend under section 2(22)(e) of the Income Tax Act.
The Revenue alleges that the appellants/assessee got the said company CCL incorporated only for the purpose acquiring properties in UK by which he could avoid declaration of the ownership in the properties in India.
Madras High Court held that transfer order under section 127 of the Income Tax Act is legally untenable on account of various procedural lapses. Hence, the transfer order is quashed and matter is remanded bank for passing fresh orders on merits.
Patna ITAT remands penalty case of Narayani Educational Health and Charitable Trust, allowing re-examination of Section 271(1)(b) levy due to lack of evidence submission.
