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 compounding of offences under direct tax laws, including eligible offences, competent authorities, and the process...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : Kerala High Court held that section 12AA empower the Principal Commissioner to pass order cancelling registration granted u/s. 12A...
Income Tax : ITAT Mumbai held that developer is entitled for deduction under section 80-IA of the Income Tax Act for carrying out development w...
Income Tax : ITAT Chandigarh upholds CIT(A) order, deleting additions under Section 153A, citing absence of incriminating material found during...
Income Tax : Addition based on the District Valuation Officer’s (DVO) report, which exceeded the stamp duty value was upheld as assessee ch...
Income Tax : ITAT Lucknow rules that additions under Section 68 require incriminating evidence. ₹2 crore cash credit addition against Ocean D...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
Read the detailed analysis of ITAT Delhi’s decision in Bawa Float Glass Ltd Vs DCIT regarding the absence of DIN in statutory approval under section 153D of the Income Tax Act.
Bombay High Court quashes reassessment notices against Godrej Industries, citing issuance beyond the limitation period. A landmark victory for corporate law.
ITAT Hyderabad finds 90% profit from development activities highly unusual, calling for a reevaluation of contracts and use of government funds.
Kerala High Court dismisses a writ petition for failing to meet Section 245C(1) of the Income Tax Act, emphasizing full and true income disclosure.
Read the full text of the ITAT Chennai order in ACIT vs. Prakash Ferrous Industries Pvt. Ltd. where the assessment order is rejected due to oversight and typographical error under section 143(3).
Kerala High Court directs expeditious decision on an income tax appeal pending for 10 years, emphasizing timely justice in tax proceedings.
ITAT Delhi held that “full value of consideration” or “cost of investment” cannot be substituted by the fair market value (FMV), except in the case falling within the purview of 50C and Sec. 56(l)(vi)/(vii) of the Income Tax Act.
Supreme Court held that mere delay in trial pertaining to grave offences cannot be used as a ground to grant bail. Accordingly, bail application of appellant accused under Unlawful Activities (Prevention) Act, 1967 rejected.
Discrepancies in KYC docs don’t constitute incriminating material. ITAT cancels income tax addition for Renukamata Multi-State Co-op Society Ltd. vs ACIT.
Delve into the provisions of Income Tax Act Sections 153A & 153C, governing assessments after search or requisition. Learn from court rulings and expert interpretations.
