Income Tax : Explore the discussion between CA Micky and CA Mini on Sections 68 & 44AD of the Income Tax Act. Learn about unexplained cash cred...
Income Tax : Explore recent Supreme Court rulings (2023) on income tax issues. Highlights of key cases, analysis, and implications....
Income Tax : Explore sections 68 to 69D of Income Tax Act 1961, covering unexplained cash credits, investments, and more. Learn about legal pro...
Income Tax : Explore Section 68 of the Income Tax Act with our comprehensive guide on cash credits. Learn about its purpose, scope, and legal f...
Income Tax : Discover simplified taxation scheme under Section 44AD of Income Tax Act. Learn eligibility criteria, exemptions, and key insights...
Income Tax : ITAT Ahmedabad held that genuineness of transaction, creditworthiness and identity of creditors not proved, hence addition u/s. 68...
Income Tax : ITAT Kolkata held that CIT has not applied his mind analytically while assuming jurisdiction for taking cognizance under section 2...
Income Tax : ITAT Pune restored the assessment order as assessee neither filed any evidence nor provided material in an attempt to discharge th...
Income Tax : ITAT Pune directed addition u/s. 68 of the Income Tax Act towards unsecured loans as appellate deliberately withhold information f...
Income Tax : Punjab & Haryana HC upholds Principal Commissioner’s revision under Section 263. Assessing Officer’s wrong Section 44ADA asses...
Income Tax : Assessing Officers should follow the sequence as noted below for applying provisions of section 68 of the Act: Step 1: Whether the...
Mumbai ITAT rules in favor of Speco Infrastructure, maintaining deletions of tax additions by appellate authority in a reasoned order for AY 2013-14.
ITAT Bangalore rules in favor of Minority Co-op. Credit Society Ltd. on interest income deduction under section 80P(2)(d) from unlicensed co-op bank investments for AY 2017-18.
Allahabad High Court upholds the deletion of an income tax addition under Section 68 for Paswara Papers Ltd., affirming the genuineness of the transaction.
In the case of Rajesh Lakhmshi Nisar Vs ITO, Mumbai ITAT admitted additional evidence, emphasizing taxpayers shouldn’t be penalized for not submitting material evidence.
Income Tax Appellate Tribunal upholds denial of LTCG exemption on shares of Kappac Pharma Limited. Read the full analysis of this remarkable decision & its implications on taxpayers.
ITAT Delhi held that AO is not justified in adding unsecured loan received u/s. 68 as AO has rejected the evidences furnished by the appellant without establishing falsity of the documents. Further, documents duly proved identities and source of investors.
ITAT Mumbai held that non-response to notice u/s. 133(6) of the Income Tax Act by some parties that does not prove that the entire transactions are bogus especially when all other documents to prove the identity and creditworthiness of the parties have been submitted
Explore the Jharkhand High Court’s decision in Pasari Casting vs. Income Tax Department, addressing a critical tax reassessment issue. A detailed analysis inside.
Ahmedabad ITAT rules that if identity, creditworthiness, and genuineness of transaction are established, loans from shell companies can’t be treated as unexplained under section 68.
Discrepancies in KYC docs don’t constitute incriminating material. ITAT cancels income tax addition for Renukamata Multi-State Co-op Society Ltd. vs ACIT.
