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 intricacies of gold taxation in India, covering physical gold, paper gold, gold derivatives, inheritance tax, and comp...
Income Tax : Explore the impact of demonetization on cash deposits in India and the key legal insights from Section 69A vs. Section 44AD cases....
Income Tax : Explore sections 68 to 69D of Income Tax Act 1961, covering unexplained cash credits, investments, and more. Learn about legal pro...
Income Tax : Explore the differences between income tax Sections 68, 69, 69A, 69B, 69C in India, their taxability, and implications. Understand...
Income Tax : ITAT Indore held that rejection of appeal by CIT(A) on the footing of non-payment of advance tax as required by section 249(4)(b) ...
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 : ITAT Pune rules in favor of Ashok Ravsaheb Tambe, deleting addition of cash deposits during demonetization, explained as proceeds ...
Income Tax : ITAT Pune remands the case of Suhas Maruti Dhankude for re-adjudication due to non-adjudication of jurisdictional grounds and fail...
In present facts of the case, the Tribunal held that Assessment Order issued without DIN is null and void as it is in violation of CBDT Circular No. 19/2019 dated 1 4th August, 2019.
Analysis of ITAT Hyderabad’s decision in Mareddy Jagan Mohan Vs ITO: Cost levied for ignoring CIT(A) NFAC notices and impact on the assessee’s appeal.
ITAT Delhi held that initiation of proceedings u/s 153C of the Income Tax Act based on seized dumb documents found in the premises of third party is unsustainable in law as the seized documents are merely loose sheets not forming part of the books of account of the assessee and that they do not constitute admissible evidence.
ITAT Surat held that seized jewellery within the permissible limit prescribed by CBDT Circular No 1916 dated 11.05.1994 couldn’t be treated as undisclosed jewellery. Accordingly, addition u/s 69A of the Income Tax Act liable to be deleted.
ITAT Mumbai held that provision of Sec. 69A of the Income Tax Act cannot be applied in respect of cash deposited which have been duly recorded in the books of account and had already been declared income in the return of income filed by the assessee.
Explore the differences between income tax Sections 68, 69, 69A, 69B, 69C in India, their taxability, and implications. Understand when these sections apply, burden of proof, and tax rates if found guilty. Stay informed about transparency and compliance in financial dealings under Indian income tax law.
Read the analysis of ITAT decision in the case of Rama Mepa Odedara Vs ITO. The appellant appealed against addition of cash deposits under section 69A of the Income Tax Act, 1961. The ITAT considered the source of deposits and concluded that only the profit element should be taxable.
Explore the implications of taxation under section 115BBE, including misuse of sections 68 to 69D, consequences of high tax rates, and relevant judicial precedents.
ITAT Indore held that excess stock was not kept separately and was part of business stock cannot be treated as deemed income u/s 69 or 69B of the Income Tax Act. Accordingly, provisions of section 115BBE of the Income Tax Act are not applicable on the surrendered income on account of excess stock found during the course of search.
Read the ITAT Chennai order on cash deposit during demonetization. The appeal is partially allowed due to failure to produce documentary evidence for some deposits.
