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...
The Tribunal held that no commission income can arise from circular transactions within group entities. Additions based on estimated commission for such intra-group sales were deleted.
The Tribunal held that an assessment framed without issuing a compulsory notice under section 153C lacks jurisdiction. Even seized material cannot cure this foundational defect, rendering the order void ab initio.
The Tribunal found that the AO had examined land records, crop sale documents, and other evidence before making the assessment. Since due inquiry was conducted, the assessment order was neither erroneous nor prejudicial to revenue.
The tribunal held that an ex parte assessment involving large unexplained bank credits required fresh adjudication. The matter was remanded to the Assessing Officer with one final opportunity to the assessee.
The Tribunal held that once bills and vouchers are furnished, ad hoc disallowance of expenses is unjustified. Unsupported estimations without defects cannot sustain additions.
The tribunal allowed a remand where unexplained cash deposits were added based on a PAN-linked account. The key takeaway is that effective opportunity must be given to disown alleged accounts.
The Tribunal ruled that the enhanced tax rate under Section 115BBE cannot be applied retrospectively for demonetisation-period transactions. As the tax effect at normal rates fell below the monetary limit, the Revenue’s appeal was dismissed.
The Tribunal ruled that inventory figures from a management Excel sheet, without quantity details or physical verification, cannot form the basis of an addition. Properly recorded GST-compliant sales explained the variance.
The assessee claimed that cash deposits belonged to company debtors and past savings, which were not examined earlier. The Tribunal restored the matter to the AO for re-verification in the interest of justice.
The addition was sustained on the ground that earlier cash deposits were not explained. The Tribunal held that the explanation of medical exigency and redeposit was reasonable and directed deletion.
