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 Kolkata held that reopening of assessment is invalid since reasons recorded are vague and scanty and PCIT has granted approva...
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....
Chennai’s ITAT supports CIT(A)’s deletion of cash deposit additions under Section 69A of the Income Tax Act, highlighting evidence-based judgment.
Read the detailed analysis of Shekhar Agarwal Vs ACIT case where ITAT Delhi deletes addition of diamond jewellery found during search proceedings. Full text included.
Kerala High Court dismisses writ petition challenging assessment order under Section 147 of the IT Act, directing appellant to pursue statutory remedy. Full judgment analysis.
Read the full text of the ITAT Chennai order in ACIT vs. Prakash Ferrous Industries Pvt. Ltd. where the assessment order is rejected due to oversight and typographical error under section 143(3).
ITAT Hyderabad orders fresh examination of Bollam Sampath Kumar Jewellers’ cash deposits and sales during demonetization, highlighting the importance of documentation.
Delhi ITAT’s landmark ruling in Sarika Bindal vs. ITO establishes that capital gains from share sales cannot be deemed sham, safeguarding taxpayer rights.
In the landmark Mudhol Pattina Sahakari Sangh Niyamita vs. ACIT case, ITAT Bangalore held additions under Section 68 need examination of cash deposit source.
Ahmedabad ITAT allows Amikrupa Education Trust’s appeal, ruling cash deposits during demonetization with explained sources not taxable under Section 69A.
Kolkata ITAT upholds LTCG disallowance in Brajesh Narnolia Vs ITO, emphasizing that a company’s genuineness isn’t judged by the magnitude of profit.
ITAT Bangalore rules in favor of Minority Co-op. Credit Society Ltd. on interest income deduction under section 80P(2)(d) from unlicensed co-op bank investments for AY 2017-18.
