Income Tax : Explore the complex interplay of tradition and tax law surrounding Streedhan (women's jewellery) in India, CBDT guidelines, and co...
Income Tax : Overview of Income Tax Sections 69A, 69B, on unexplained income, investments, and expenditures. Key cases and interpretations incl...
Income Tax : The Sections by which the assessees are suffering too much due to high pitched assessments passed by NFAC are from 68 to 69D and 1...
Income Tax : Recent Chennai ITAT decisions address unexplained income, underreporting, and penalties under Sections 69A, 68, 270A, and 271. Key...
Corporate Law : Assessees face 78% tax and 6% penalty for unexplained investments or expenditures under Sections 69 to 69C of Income Tax Act if de...
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 Hyderabad held that reopening of assessment u/s. 148 of the Income Tax Act is void-ab-initio since income escaped assessment ...
Income Tax : Additions under Section 69A could not be sustained without concrete evidence and due process and AO had not brought any tangible e...
Income Tax : Aggrieved against the directions of CIT(A) to the AO for assessment of gross profit on unaccounted sales of unaccounted purchases ...
Income Tax : To ensure fairness, the ITAT set aside the CIT(A)'s order and remanded the disputed issues back to the CIT(A) for a fresh hearing....
Income Tax : ITAT set aside the CIT(A)'s order and remanded the matter back to the CIT(A) to decide the appeal afresh after providing the AO an...
There are absolutely no credible and reliable evidences to establish that entire loans in cash were from the undisclosed funds whereas loan in cheques were accepted to be that of person other assessee and his role as a conduit or a mere intermediary was established.
ITAT Mumbai removes additions under Section 69A on alleged loan in Mangeram Sharma case due to lack of evidence and retracted statement.
Explore the complex interplay of tradition and tax law surrounding Streedhan (women’s jewellery) in India, CBDT guidelines, and court rulings.
ITAT Nagpur held that addition made on the basis of dumb documents, loose paper containing scribbling, rough/vague noting’s in the absence of any corroborative material is not tenable in law. Thus, appeal of revenue dismissed.
ITAT Ahmedabad sets aside ex-parte order in Akash Panchal case, remanding it for fresh consideration on unexplained cash deposits under Sections 68 & 69A.
ITAT Pune held that additional income surrendered during the course of survey is taxable at normal rates and not at special rates as per section 115BBE of the Income Tax Act. Accordingly, appeal of revenue dismissed.
Assessee had received Rs. 13.36 crores by cheque/RTGS out of total cash deposit of Rs.24.35 crores in bank account of M/s R. S. Traders during demonetization period. During the survey, several documents and evidences were collected and impounded.
ITAT Hyderabad sends ₹3.56 crore income addition case back to CIT(A) for reconsideration, imposes penalty for non-compliance.
ITAT Ahmedabad quashed addition of cash deposits during demonetization, accepting tuition income and marriage gifts as sources.
ITAT Ahmedabad addressed unexplained cash deposits during demonetization in Jaisinghani vs. ITO, focusing on Sec. 69A and 115BBE.
