Corporate Law : Assessees face 78% tax and 6% penalty for unexplained investments or expenditures under Sections 69 to 69C of Income Tax Act if de...
Income Tax : Learn about penalty provisions under the IT Act, including penalties for defaults in tax payment, income reporting, and more. Key ...
Income Tax : Article explains how surrendered income is treated under I.T Act, particularly focusing on applicability of Sections 68 to 69D and...
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 : ITAT Ahmedabad held that addition u/s. 69 of the Income Tax Act towards unexplained investment unsustainable since assessee had ex...
Income Tax : ITAT Ahmedabad upheld part of the unexplained investment addition for Rs. 79.35 lakh in Bhavin V. Maniar's case, allowing time for...
Income Tax : ITAT Delhi held that addition under section 69 of the Income Tax Act on protective basis not justified since assessee established ...
Service Tax : No deduction under the Head “Provident Fund” is permissible in the above provisions and I therefore, hold that the taxable val...
Income Tax : The assessee has not filed any return of income. As per the information, the reasons were recorded and subsequently the case was r...
Discover the conditions for issuance of a reassessment notice u/s 153A beyond six years & explore the detailed analysis of ACIT Vs Goldstone Cements Ltd. (ITAT Kolkata) case.
Despite legal contention that addition under section 69 was erroneous, ITAT emphasized necessity of substantiating genuineness of transactions, rather than merely disputing section under which additions were made.
Analyzing the case of Sunil Dhirubhai Patel vs ITO, where expenses were disallowed despite not being claimed by the assessee, and how the ITAT Ahmedabad ruled in favor of the assessee.
Understand the implications of unexplained expenditure as Hyfun Foods challenges an addition of Rs. 95,47,000/- under section 69 of the Income Tax Act. Detailed analysis and verdict included.
Supreme Court’s decision regarding availability of good faith clause to GST officers before legal proceedings. Get insights into judgment in State of Gujarat & Anr. Vs Paresh Nathalal Chauhan case.
Read the detailed analysis of K. Abdul Majeed Vs ITO case where Kerala High Court quashed reassessment under IT Act 147 based on deposits in third-party bank accounts.
Kerala High Court orders Alka Ventures Pvt Ltd to pay 12 crore as advance tax for appeal against assessment order. Details of the judgment provided.
Naresh Chandra Kalwani Vs PCIT case discusses excess stock, business assessment, and the applicability of section 69/69A/115BBE under Income-tax Act.
Delhi High Court held that benefit of deduction under section 80IC of the Income Tax Act available even in case of addition of unsubstantiated share capital into the account of the assessee under Section 68 of the Act.
Analysis of Satbir Mahato Vs PCIT case by Kolkata ITAT, highlighting the dispute over Section 263 jurisdiction due to plausible views of AO.
