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...
Read the detailed analysis of the Allahabad High Court’s decision to grant bail to Qamar Ahmed Kazmi accused of availing excess input tax credit under Sections 419, 420, 467, 468, 471 & 120-B IPC.
Explore the case of Gundarlahally Ramesh Meera Vs ITO as ITAT Bangalore directs readjudication due to delay in filing appeal before lower authorities.
Read the detailed analysis of the Jharkhand High Court’s decision upholding income tax additions due to failure in proving the genuineness of creditors providing cash loans.
ITAT Delhi held that “full value of consideration” or “cost of investment” cannot be substituted by the fair market value (FMV), except in the case falling within the purview of 50C and Sec. 56(l)(vi)/(vii) of the Income Tax Act.
Mumbai ITAT decision clarifies that no addition under Section 69 I-T Act is justified once the source of investment is proven, setting a precedent.
Delhi High Court sustains anticipatory bail for accused acting under main culprits directions in a significant GST evasion case, setting a legal precedent.
Explore the Jharkhand High Court’s decision in Pasari Casting vs. Income Tax Department, addressing a critical tax reassessment issue. A detailed analysis inside.
Read the full text of the judgment/order by Delhi High Court on the Directorate General of GST Intelligence vs Jitender Kumar case involving a Rs 195 Crores GST fraud.
Explore the ITAT Rajkot’s detailed analysis of Vaidya Realities vs PCIT case under Section 263, highlighting the AO’s assessment, PCIT’s concerns, and the final verdict.
ITAT Mumbai held that the assessee has not discharged its onus to satisfactorily prove the incurring of expenditure for running the alleged Hotel Management Business. Thus, in absence of satisfactory documentary evidence, addition u/s. 68 of entire turnover disclosed as hotel management business sustained.
