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...
Rajasthan High Court held that initiation of proceedings under section 153C of the Income Tax Act based on WhatsApp chats with specific inputs cannot be said to be vague or hit by the strict parameters of Section 153C of the Income Tax Act.
ITAT Delhi held that the approval granted u/s. 153D in the nature of a ‘technical approval’ in symbolic exercise of powers under s. 153D. Hence, the consequential assessment orders based on such repugnant approval under s. 153D is bad in law in tune with earlier years.
Karnataka High Court held that blocking of Electronic Credit Ledger by invoking Rule 86A of the Central Goods and Services Tax Rules, 2017 [CGST Rules] without granting pre-decisional hearing and without stating cogent reason in order is impermissible in law.
Madras High Court held that re-opening of assessment u/s. 147 must be based on some tangible material without such tangible material, re-opening is merely inspired from change of opinion and hence the same is liable to be quashed.
ITAT Jaipur held that addition towards undisclosed income rightly sustained since assessee failed to explain the incriminating material found during the course of search. Penalty under section 271AAB too sustained.
Madras High Court held that the recording of satisfaction note is pre- requisite before initiating proceeding under section 153C of the Income Tax Act. In absence of the same, assessment order is liable to be quashed. Accordingly, appeal of the revenue is dismissed.
The assessee is a private limited company. Post completion of assessment u/s. 143(3)/153A, reassessment u/s. 148 was initiated. However, AO accepted the contention of the assessee and passed order u/s. 143(3)/ 147.
Madhya Pradesh High Court condones delay in Neel Kumar Ajmera’s ITAT appeal, setting aside dismissal due to limitation and remanding the case for fresh adjudication.
During the course of a survey, it was seen that the assessee had defaulted in deducting tax at source on interest paid to AGE Patel Joint Venture (JV) in Financial Year (FY) 2016-17 on Mobilisation advance and Machinery advance.
ITAT Hyderabad held that addition on the basis of loose papers and documents found from the premises of third party is not tenable in the eye of law. Accordingly, appeal of the revenue is dismissed since addition not based on substantial evidence.
