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...
ITAT Ahmedabad directs readjudication of ex-parte assessment orders passed without considering additional evidence filed under Rule 46A of Income Tax Rules.
ITAT Delhi held that as lower authority made ex-parte addition towards unexplained investment u/s 69 of the Income Tax Act matter restored to CIT(A) for denovo adjudication giving last opportunity to assessee to explain source of investment.
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.
