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...
ITAT Delhi deletes Rs. 89.7 Lakhs addition u/s 68 IT Act in ACIT vs. Daya Rani. Detailed analysis of taxpayer’s explanation for capital enhancement.
Rajendra Kumar Mishra vs. ACIT case: ITAT Kolkata directs re-evaluation as AO misinterpreted PCIT’s orders on loan payments.
Read the detailed analysis of ITAT Delhi’s order regarding capital gains earned from the sale of CCL International shares. ITAT deemed the gains genuine, deleting the addition under section 69 of the Income Tax Act.
Read detailed analysis as Kolkata ITAT removes unexplained cash credit addition in Sharda Ferro Works Pvt. Ltd. Vs DCIT case. Share capital scrutiny under section 68.
Explore the CESTAT Delhi ruling on Weldon Tours & Travels Pvt. Ltd. vs Commissioner of Service Tax, revealing no service tax liability on outbound tours. Full analysis provided.
Mumbai ITAT’s ruling in Vijay Suresh Dave Vs DCIT regarding addition of unexplained cash credit u/s 68. Detailed analysis of the case and conclusions.
Learn how issuance of a jurisdictional notice in the name of a non-existing entity led to the quashing of reassessment proceedings by the ITAT Delhi.
ITAT held that if sales are not disputed and there is no discrepancy between purchases and declared sales, addition should be restricted to bring gross profit on alleged bogus purchases in line with other genuine purchases.
Assessee had issued share application money and subsequently allotted shares which showed that the transactions were genuine and there was no material brought on record by tax authorities that the assessee had benefited from round-tripping, therefore, ITAT had deleted the addition made u/s 68.
In the case of Pukhraj Nathmal Jain Vs ITO, ITAT Mumbai deletes addition u/s 68 of Income Tax Act, as the source for deposits made during demonetisation period was substantiated.