Income Tax : The Tribunal held that penalty under section 271(1)(c) cannot be imposed when errors are voluntarily corrected during assessment. ...
Income Tax : A summary of key penalties under the Income Tax Act for AY 2026-27, covering defaults from late filing and non-payment to misrepor...
Income Tax : ITAT Delhi held penalty u/s 271(1)(c) unsustainable as 54F exemption failed due to builder delay, not taxpayer’s fault. Full dis...
Income Tax : Understand why an income-tax penalty under Section 271(1)(c) is invalid if the charge isn't specified as concealment or inaccurate...
Income Tax : Learn how taxpayers can defer income tax penalty proceedings when quantum additions are under appeal. Understand legal grounds and...
Income Tax : The Committee recommends that the scope of Section 273B should be suitably enlarged to provide that penalty for concealment of inc...
Income Tax : The case addressed ambiguity in penalty proceedings where the specific charge was not identified. The Court upheld deletion of pen...
Income Tax : The case involved an ambiguous penalty notice that did not clarify whether the charge was concealment or inaccurate particulars. T...
Income Tax : The case involved penalty on disallowance of purchases treated as non-genuine and estimated at 12.5%. Tribunal ruled that estimate...
Income Tax : ITAT Mumbai remanded ₹95.81 lakh commission disallowance, holding that non-response to Section 133(6) notices alone cannot justi...
Income Tax : ITAT Mumbai held that CIT(A) cannot enhance income by introducing a new issue not examined by the Assessing Officer. The ruling cl...
Income Tax : Section 270AA of the Income-tax Act, 1961 (the Act) inter alia provides that w.e.f. 1 st April, 2017, the Assessing Officer, on an...
ITAT Delhi rules interest income on FDs linked to SEZ business operations is deductible under Section 80IAB. Analysis of Candor Gurgaon One Realty vs ACIT case.
Delhi High Court judgment on GE Capital vs. DCIT, distinguishing under-reporting and misreporting as separate offenses, resulting in quashed penalty. Full text analysis.
Discover the ITAT Bangalore ruling on IBM Canada Limited vs. DCIT, where salary reimbursements of seconded employees were deemed non-taxable as fees for technical services.
Read the detailed analysis of ITAT Ahmedabad’s order canceling penalty under section 271(1)(c) of the Income Tax Act. Co-owner status and lack of concealment discussed.
ITAT Mumbai rules in favor of Anurag Chandra, validating the method of declaring foreign profit after currency conversion. Addition deleted in appeal. Learn more.
Detailed analysis of ITAT Mumbai case of Parag Motilal Savla vs ITO, focusing on lack of substantial evidence for cash loan allegations.
Explore the ITAT Ahmedabad ruling on Intas Pharmaceuticals Vs ACIT, focusing on working capital adjustment and notional interest on trade receivables.
The Kerala High Court rules that additional income disclosed voluntarily cannot be treated as concealed income under Section 271(1)(c) of the Income Tax Act.
Read the detailed order by ITAT Bangalore regarding Samaja Seva Mandali vs. ITO. Assessing real intentions of trust in land purchase for school building construction.
Bombay High Court rules IT search under Section 132 invalid if authorization is based on irrelevant and unrelated material. Detailed case analysis inside.
