Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : Income without satisfactory explanation is taxed at a special high rate under Section 115BBE. The provisions place strict liabilit...
Income Tax : A doctrinal analysis of unexplained cash credits, investments, and expenditure under Sections 68–69D. Explains burden of proof a...
Income Tax : This covers how unexplained credits and investments are taxed under Sections 68 to 69D. The key takeaway is that additions require...
Income Tax : ITAT held that section 69 cannot be invoked where purchases are duly recorded in books and paid through banking channels, making t...
Income Tax : The issue was whether a notice issued before filing of return satisfies Section 143(2) requirements. The Tribunal held such notice...
Income Tax : The issue was whether third-party diaries using code “DD” can justify 153C action. ITAT held that without clear identification...
Income Tax : The Tribunal held that additions cannot be sustained without incriminating material directly connecting the assessee to alleged ca...
Income Tax : The ruling clarified that unverified electronic records and third-party statements cannot justify additions without proper verific...
Income Tax : The Tribunal held reassessment invalid as the alleged escaped income did not exceed ₹50 lakh required for extended limitation. I...
NCLAT Delhi confirms NCLT’s jurisdiction under Companies Act S.213 and NCLT Rules 11 to refer corporate fraud cases to SFIO, even during IBC. Upholds probe into Bhuvana Infra Projects, Bank of Maharashtra, and directors based on forensic audit.
Understanding GST prosecution in India: Offenses, arrest powers, mens rea, tax liability, judicial precedents, and the process of sanctioning and compounding.
Chennai ITAT remands Rs. 2.31 crore addition for cash deposits and S. 40(a) disallowance, directing AO to conduct fresh enquiry.
Mumbai ITAT rules excess stock found during survey, when linked to business, is undeclared business income, not unexplained investment, thus avoiding Section 115BBE.
ITAT Allahabad held that renting out of property on day-to-day basis and providing certain facilities to those who would be taking premises on rent seems to be an organized activity of composite nature. Hence, income from the same is treated as business income.
Delhi High Court held that petition under Article 226 of the Constitution of India cannot be entertained since there is extreme serious allegation of fraudulent availment of benefits under GST Act and petitioner has presented twisted facts.
As stated earlier, appellant had raised objection on 15.01.2022 against re-opening but the same was not disposed of by AO by passing a speaking order as per guidelines issued by SC in case of KGN Driveshafts.
ITAT Pune rules excess stock declared during survey is business income, not unexplained income under 115BBE, if linked to regular business activities.
ITAT Indore rules excess stock surrendered during survey by Suresh Aluminium is business income, not unexplained, directing normal tax rates. Cites key precedents.
Gauhati High Court held that anticipatory bail application is not maintainable since ineligible ITC amount involved is less 5 crores and hence the case falls under bailable offence. Accordingly, the application is rejected.
