Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
Income Tax : This guide explains when penalties can be imposed under various provisions of the Income-tax Act, 1961. It also outlines the appli...
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 : ITAT Mumbai deleted a Section 69 addition after finding documentary evidence established joint ownership, source of funds, and ear...
Income Tax : ITAT held that a registered sale deed without corroborative evidence is not incriminating material and cannot support additions in...
Income Tax : ITAT held that multiplying a seized figure without supporting evidence was unjustified and restricted the Section 69 addition to t...
Income Tax : The Tribunal ruled that proceedings initiated under the old Section 153C framework after the Finance Act, 2021 amendments were leg...
Income Tax : Tribunal held that omission to mention the exact charging provision did not vitiate the assessment where unexplained cash and bull...
Addition made under Section 69 on account of the difference in excess stock of 22 Kt Gold and Polki Jewellery was not justified as the total weight of items of 22KT Gold jewelry and 22KT Gold Polki jewelry was 36,943 gms, and as per the estimated value, the difference was merely 113.50 gms, which was 0.32%.
Addition under section 69A on account of actual cash arranged/paid by assessee to HKA was available with the assessee was not justified as “ownership” of money had not been recorded in the books of account and AO had made only presumption that the said cash was ‘available with the assessee’ without bringing on record any material in support thereof.
Kerala High Court held that bail application of petitioner involved in tax evasion of more than Rs. 6.5 crores on allegation of supply of goods without issuance of invoice rejected as such serious allegations needs thorough investigation.
ITAT Kolkata held that education cess is not allowable expenditure under section 37(1) of the Income Tax Act.
Explore the ITAT Mumbai order in the Devang Jitendra Mashru vs ITO case for AY 2010-11. Uncover the addition under section 69 and the final opportunity granted due to transaction information absence.
Punjab and Haryana High Court held that addition under section 69 of the Income Tax Act towards unexplained investment unsustainable as nature and source of the investment duly explained.
Kerala High Court held that the provisions i.e. Sections 14A & 74H of the Kerala Co-operative Societies Act, 1969 not relating to any aspect of banking are within the legislative competence of the State Legislature.
Delhi High Court held that any non-compliance to the mandate of section 19(1) of the Prevention of Money Laundering Act, 2002 (PMLA) would vitiate the arrest itself.
ITAT Delhi held that commission taxed @2% of the amount of accommodation entries provided by the assessee has not been made on ad hoc basis, however, the same is as per prevailing market rate. Accordingly, the addition is sustained.
Read the full text of the ITAT Delhi order on the case of AAA Teleshopping Pvt. Ltd vs. ACIT for assessment year 2011-12, with detailed analysis and conclusions.
