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 : ITAT Delhi held that the approval granted u/s. 153D in the nature of a ‘technical approval’ in symbolic exercise of powers und...
Goods and Services Tax : Karnataka High Court held that blocking of Electronic Credit Ledger by invoking Rule 86A of the Central Goods and Services Tax Rul...
Corporate Law : Madras High Court held that re-opening of assessment u/s. 147 must be based on some tangible material without such tangible materi...
Income Tax : ITAT Jaipur held that addition towards undisclosed income rightly sustained since assessee failed to explain the incriminating mat...
Income Tax : Madras High Court held that the recording of satisfaction note is pre- requisite before initiating proceeding under section 153C o...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
Read the full text of ITAT Mumbai’s order directing re-adjudication of foreign income earned by a deceased assessee based on the residential status of the previous year.
ITAT Chennai held that assessment order passed without examining the seized documents is prejudicial to the interest of revenue and hence the revisionary order passed under section 263 of the Income Tax Act duly sustainable.
ITAT Mumbai held that interest cost incurred towards acquisition of the clear title of the property is allowable as cost of acquisition.
ITAT Delhi held that estimation of profit at 10%, instead of 8% as adopted under presumptive scheme of taxation provided u/s. 44AD, justified as the same is guided by the principles of objectivity, fairness and consideration of justice.
ITAT Chennai in Estate of Late Smt. Jayanthi Krishnamurthy Vs ACIT held that no addition could be made under section 153A in absence of incriminating evidence resulting from a search, especially if assessment is unabated.
ITAT Delhi held that entire addition towards unexplained investment under section 69 of the Income Tax Act merely on the basis of presumption is unsustainable in law.
ITAT Ahmedabad held that addition u/s 68 of the Income Tax Act towards unexplained credit unsustainable as the assessee has been able to reasonably explain the source of gift from his mother.
ITAT Amritsar held that initiation of Assessment Proceedings u/s 153C, instead of section 153A, in case of the searched assessee makes the entire assessment invalid. Accordingly, penalty levied u/s 271(1)(c) is not maintainable.
ITAT Indore held that issuance of notice under section 148 of the Income Tax Act to the demerged company i.e. non-existent company is invalid and liable to be quashed.
Explore the intricacies of ACIT Vs Satish Kumar Keshri, a pivotal case by the Patna High Court about the application of Section 153A in Income Tax assessments. Learn about the court’s stand and its implications.
