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...
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.
Gujarat High Court held that if the company has ceased to exist as a result of the approved scheme of amalgamation then in that case, the jurisdictional notice issued in its name would be fundamentally illegal and without jurisdiction.
A detailed analysis of the ITAT Amritsar’s decision declaring an assessment order void ab initio due to the wrong section of jurisdiction being cited. An insight into the Indian tax law nuances and key takeaways from the case.
In a recent case, the ITAT Hyderabad held that the provisions of section 115BBE of the Income Tax Act are not applicable when the source of income is disclosed.
Held that in the absence of any incriminating material found or seized during the course of search and seizure proceedings, the additions made by the AO during the course of reassessment under section 153A of the Income Tax Act are without jurisdiction.
ITAT Delhi held that addition u/s 69 of the Income Tax Act towards unexplained investment untenable as source of investment made by the appellant stands sufficiently explained.
ITAT Mumbai held that amount under the head ‘capital gain’ not taxable as there is no transfer of any right, title, or interest in the property.
