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 : Delhi High Court held that approval accorded in terms of section 153D of the Income Tax Act in a mechanical manner without applica...
Income Tax : Allahabad High Court dismisses the Revenue's appeal in PCIT Vs Subodh Agarwal, citing mechanical approval under Section 153D of th...
Income Tax : A search and seizure action u/s.132 of the Act was conducted in the assessee's case on 14.11.2019. AO observed that during the cou...
Income Tax : ITAT Patna held that addition towards unexplained income upheld since assessee failed to prove genuineness of transaction and cred...
Income Tax : ITAT Delhi held that addition based on documents seized from third party is liable to be set aside since assessing officer failed ...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
ITAT Delhi held that more specific plea and explanation ought to be given by an assessee for discharging burden u/s 69B of the Income Tax Act to explain jewelry beyond that mentioned in Wealth Tax Return.
Gujarat High Court held that since the order passed by the Appellate Authority has attained finality and no demand is outstanding against the appellant, it is unjustified to withhold the seized gold. Accordingly, directed to release the remaining gold at the earlier.
ITAT Chennai held that the scope of assessment after search u/s.153A of the Income Tax Act would be limited to the incriminating material/evidence found during the course of search.
ITAT Pune held that addition towards on-money receipts sustained based on seized document by invoking the statute presumption under section 292C of the Income Tax Act.
ITAT Delhi held that addition under section 68 of the Income Tax Act unsustainable in as much as identity, creditworthiness of the creditors and genuineness of the transaction duly proved by the assessee.
ITAT Delhi held that reassessment order u/s 147 of the Income Tax Act against a non-existent entity is bad in law and vitiated & nullity.
ITAT Delhi held that addition made by the A.O. in the absence of any incriminating material found during the search operation conducted u/s 132 of the Income Tax Act is liable to be deleted.
ITAT Delhi held that addition towards unexplained jewellery unsustainable as panchnama clearly mentions the fact that ownership of jewellery belongs to various people.
ITAT Delhi held that order of the ld. PCIT passed in haste without verification of factual material, as amount alleged was in Crores as against actual transactions in Lakhs, is unsustainable.
ITAT Kolkata held that addition of advances received by the company as deemed dividend in terms of provisions of section 2(22)(e) of the Income Tax Act unsustainable as advances are received from the concerns purely as business transaction.
