Income Tax : ITAT Mumbai held that an addition under Section 69A cannot be sustained when the assessee is denied the opportunity to cross-exami...
Income Tax : Income without satisfactory explanation is taxed at a special high rate under Section 115BBE. The provisions place strict liabilit...
Income Tax : Explains the centralization of digital platforms, surveillance powers, and opaque governance. Key takeaway: citizens have limited ...
Income Tax : Detailed overview of penalties under various sections of the Income Tax Act, covering defaults in tax payment, reporting, document...
Income Tax : An overview of Sections 68-69D of India's Income-tax Act, which empower tax authorities to assess unaccounted income from unexplai...
Corporate Law : Details on Indian government's blocking of YouTube channels, citing IT Rules 2021 and Section 69A of IT Act 2000. Learn about reas...
Income Tax : ITAT Indore held that appellate order violated principles of natural justice after finding that key hearing notices were sent to a...
Income Tax : ITAT Rajkot held that cash deposits made during demonetization were fully supported by audited books of account, cash books, and b...
Income Tax : ITAT Hyderabad held that addition of Rs. 13 lakh under Section 69A through rectification proceedings exceeded the scope of Section...
Income Tax : The Tribunal held that the reassessment notice issued on 26.07.2022 was beyond the permissible timeline under the surviving limita...
Income Tax : Tribunal dismissed a Revenue appeal after finding that additions were made solely on basis of entries in a seized Excel file. It h...
ITAT Indore held that appellate order violated principles of natural justice after finding that key hearing notices were sent to an incorrect email address. The matter was remanded for fresh adjudication.
ITAT Rajkot held that cash deposits made during demonetization were fully supported by audited books of account, cash books, and bank records. The Tribunal ruled that additions under Section 69A cannot be sustained merely on suspicion.
ITAT Hyderabad held that addition of Rs. 13 lakh under Section 69A through rectification proceedings exceeded the scope of Section 154. The Tribunal ruled that issues requiring detailed factual examination cannot be treated as mistakes apparent from record.
The Tribunal held that the reassessment notice issued on 26.07.2022 was beyond the permissible timeline under the surviving limitation principle and therefore lacked legal validity.
Tribunal dismissed a Revenue appeal after finding that additions were made solely on basis of entries in a seized Excel file. It held that presumptions and unverified notings cannot replace concrete evidence.
The ITAT Delhi upheld deletion of a Rs.6 crore addition under Section 68 after finding that the share sale transactions were properly documented and routed through banking channels. The Tribunal held that the Assessing Officer failed to prove that the transactions represented unaccounted income.
Mumbai ITAT held that unsecured loans received through banking channels and fully recorded in books cannot be treated as unexplained money under Section 69A merely on suspicion. The addition and consequential interest disallowance were deleted in full.
Mumbai ITAT held that reassessment notice issued under Section 148 for AY 2015-16 on 31.07.2022 was barred by limitation under Section 149. The Tribunal quashed the entire reassessment proceedings and assessment order.
The Kolkata ITAT held that penalty under Section 271(1)(c) cannot be levied where income addition is based on peak credit estimation. The Tribunal ruled that estimated additions do not automatically prove concealment or inaccurate particulars.
The Tribunal held that merely declaring presumptive income under Section 44AD does not exempt taxpayers from explaining massive bank credits. In absence of purchase records, bills, or confirmations, Section 69A addition was sustained.
