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...
Calcutta High Court held that petitioner not put to notice in respect of addition made under section 69A of the Income Tax Act as notice was issued making addition u/s. 68. Accordingly, the same is violative of principles of natural justice.
ITAT Delhi held that approval granted u/s. 153D of the Income Tax Act by the superior authority in mechanical manner has no legal sanctity in the eyes of law. Thus, assessment order in consequence to such inexplicable approval lacks legality.
In the case of Anil Champalal Jain vs ITO (ITAT Mumbai), learn why Mumbai ITAT ruled that cash deposits during demonetization alone cannot justify income addition without clear evidence of accounting errors. Read the full text of the order for detailed insights.
ITAT Jaipur rules in Shobha Tomar Vs DCIT that cash deposits from professional income during demonetization cannot be deemed unexplained. Detailed analysis inside.
Merely because certain cash was deposited in the specified bank notes by the assessee during the demonetization period will not make the assessee tainted party when the very same transaction are being made by the assessee in the part as well as in the future.
Read the full text of the ITAT Delhi order in Durga Fire Work Vs ITO case for AY 2017-18. Learn why Delhi ITAT ruled cash deposits during demonetization as non-taxable.
Discover the tax implications and rates for undisclosed sources of income under Sections 68-69D of the Income Tax Act, 1961. Learn about cash credits, unexplained investments, and more.
The ITAT Bangalore ruled that income tax additions can’t be based solely on unsubstantiated loose slips, emphasizing the need for corroborative material evidence.
ITAT deletes On Money addition due to incomplete documentation lacking key details: payment dates, parties involved, and agreement specifics.
ITAT Ahmedabad rules no tax on cash deposits from relatives if affidavits provided. Sakina Ahmedali Kantavala vs ITO case highlights proper affidavit usage in tax assessments.
