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 Chennai held that once the nature and source of credit found in the books of accounts is linked to business, then any income generated out of such business activity is assessable under the head income from business and profession alone, but not under the provisions of section 68 of the Income Tax Act.
ITAT Delhi quashes revision order, ruling that additional income surrendered during survey proceedings should not be taxed at 60% under Section 115BBE of the Income Tax Act.
ITAT Chennai held that provisions of section 115BBE not invocable in case of addition u/s. 69A towards unexplained money as assessee is having only one source of income from business and claims that source for cash deposits is out of sales of the year.
In this article, we discuss case of Hasmukh Kanjibhai Tadhani Vs ITO (ITAT Surat) involving cash deposits during demonetization, with detailed analysis and outcome
Cash deposited during demonetization can’t be unexplained if taxpayer has a history of cash sales and no discrepancies found in books.
ITAT Chennai directs AO to accept 50% of cash deposits as sale proceeds and balance as unexplained money in J. Kalappa Naidu Sons’ case vs. ITO.
ITAT Chennai held that addition towards unexplained money u/s 69A of the Income Tax Act unjustified as assessee has filed necessary evidence to explain nature and source for cash deposits.
ITAT Delhi held that for the purpose of Section 153A/143(3) of the Income Tax Act, the assessment can be said to be ‘made’ only when the DIN is quoted on the order before it is signed. Order passed u/s 153A without first generating the DIN is invalid and bad-in-law.
ITAT Chandigarh’s ruling on the necessity of proper service for Income Tax notices. An in-depth analysis of Sandeep Kumar vs. ITO case. Learn more.
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.
