Income Tax : Discover the tax implications and rates for undisclosed sources of income under Sections 68-69D of the Income Tax Act, 1961. Learn...
Income Tax : Explore the heavy tax implications on taxpayers for unexplained investments and expenditures under Income Tax Act sections 69 to 6...
Income Tax : Explore sections 68 to 69D of Income Tax Act 1961, covering unexplained cash credits, investments, and more. Learn about legal pro...
Company Law : Unlock the procedural intricacies of share buybacks in private/unlisted companies under the Companies Act, 2013. Explore the signi...
Income Tax : Explore the differences between income tax Sections 68, 69, 69A, 69B, 69C in India, their taxability, and implications. Understand...
Income Tax : Karnataka High Court held that settlement commission, accepting additional income offered as reasonable and giving immunity from p...
Income Tax : ITAT Kolkata held that CIT has not applied his mind analytically while assuming jurisdiction for taking cognizance under section 2...
Income Tax : Punjab & Haryana HC upholds Principal Commissioner’s revision under Section 263. Assessing Officer’s wrong Section 44ADA asses...
Income Tax : Certain expenses related to cost of improvement of land put forward by assessee were disallowed noting lack of proper and sufficie...
Income Tax : Notice under section 148 was issued upon assessee by AO for reassessing the cash deposit as undisclosed income, following approval...
ITAT Amritsar held that excess stock found during the survey only be treated as income under the head business income and not as deemed income under section 69B of the Income Tax Act.
Read about ITAT’s decision to direct Tera Naturals Resources Pvt. Ltd. to deposit Rs 25,000 in PM Relief Fund due to non-compliance behavior during appellate proceedings.
ITAT Mumbai held that initiation of reassessment proceedings under section 147 of the Income Tax Act based on the information received from the investigation wing is valid and sustainable in law.
ITAT Amritsar held that once source of surrendered income is proved to be business income, the same cannot be taxed as deemed income under section 69 read with section 115BBE of the Income Tax Act.
In the case of Ekta Garg Vs ITO (ITAT Delhi), the ITAT ruled that addition under Section 68 & 69 of the Income Tax Act cannot be made if the assessee proves the identity and creditworthiness of lenders for property purchase loans.
Analysis of the ITAT Delhi case Gloria Eugenia Rynjah Banerji Vs ITO, focusing on why income tax addition of Rs.2002801 was not deleted despite a technical error by the Assessing Officer.
Analysis of ITAT Ahmedabad’s decision in ITO vs Jakshibhai Dahyabhai Bharvad. Understand how CIT(A) order was upheld, affecting income tax additions.
ITAT Chandigarh held that transaction not recorded at the time of survey qualify as unrecorded transactions, however, the assessee has provided the necessary explanation about the nature and source of such unrecorded transactions and hence invoking deeming provisions of section 69-69D of the Income Tax Act unjustified.
ITAT Chandigarh held that transactions which were not recorded at the time of survey are unrecorded transaction, however, as nature and source of such unrecorded transaction explained the same cannot be brought to tax under the deeming provisions of section 69 of the Income Tax Act.
ITAT Delhi held that towards unexplained money u/s. 69A of the Income Tax Act merely on the basis of unsigned unexecuted draft agreement to sale without any other collaborative evidence is unsustainable in law.
