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 : Bombay High Court held that Court cannot exercise its discretionary jurisdiction to restrain income tax officers from proceedings ...
Income Tax : Madras High Court sets aside IT assessment orders for Vetrivel Minerals citing lack of incriminating evidence and breach of natura...
Income Tax : Delhi High Court held that section 153C of the Income Tax Act doesn’t required AO to find or uncover a relationship or an associ...
Income Tax : ITAT Chennai rules on Sakthi Realty case, deleting additions for unexplained deposits. Details on customer deposits, tax assessmen...
Income Tax : Rajasthan High Court held that initiation of proceedings under section 153C of the Income Tax Act based on WhatsApp chats with spe...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
Budget 2023 aligns timeline under section 153 of Income Tax Act. Learn more about the 2016 Finance Acts reduced assessment order period of 9 months for 2021-22 and later assessment years.
ITAT Delhi held that addition merely on the basis of bald statement under section 153A of the Income Tax Act without any incriminating material is unsustainable in law.
CIT Vs Sikhya ‘O’ Anusandhan (Orissa High Court) Court in the first round of litigation accepted the legal position that without there being a valid search warrant authorizing the search in the premises of the Assessee under Section 132 of the Act, the question of initiating proceedings under Section 153A of the Act did not […]
In the instant case, the draft assessment orders in 123 cases, i.e. for 123 assessment years placed before the Approving Authority on 30.12.2017 and 31.12.2017 were approved on 31.12.2017
ITAT Delhi held that addition in Income Tax proceedings is liable to be set aside as the addition was made on the basis of the finding of Central Excise Department which was eventually decided in favor of the assessee.
ITAT Chennai held that undisclosed income allegation unsustainable as during search no incriminating material was found in respect of on-money receipt and AO also failed to establish the receipt of the same.
PCIT Vs Meeta Gutgutia Prop. M/s. Ferns ‘N’ Petals (Delhi High Court) There is no such statement in the present case which can be said to constitute an admission by the Assessee of a failure to record any transaction in the accounts of the Assessee for the AYs in question. On the contrary, the Assessee […]
Dy.C.I.T Vs Ashok Developers & Builders Ltd (ITAT Hyderabad) It is an admitted fact that a search & seizure operation took place in the premises of the assessee on 18.02.2016 and certain incriminating documents were found and seized. We find the AO in the order passed u/s 143(3) r.w.s. 153A of the Act determined the […]
PCIT Vs Gautam Bhalla (Delhi High Court) Appellant states that the ITAT has erred in holding that the addition which was not based on incriminating material found during the search, could not be made the basis for an assessment order under section 153A of the Income Tax Act, 1961 without going into merits of the […]
Regular books of accounts maintained by assessee in tally software, now being referred by Revenue, to justify impugned addition did not constitute incriminating material unearthed during search.
