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 ITAT Mumbai deleted a ₹11.14 lakh cash addition made during a search, ruling that cash found in a common locker belonged to the entire joint family, not just the assessee. The Tribunal held that detailed, contemporaneous records and I-T returns filed by family members, plus an explanation for small accumulated gifts, sufficiently explained the source of the funds, overturning the CIT(A)’s arbitrary and factually incorrect rejection of the evidence.
ITAT Delhi ruled that WhatsApp chats recovered during a search, if corroborated by context and left unrebutted by the assessee, create a statutory presumption of correctness under Section 292C, leading to a sustained addition of ₹9 lakh as unexplained money. The Tribunal also directed the allowance of an 80TTA deduction claim for the abated assessment year (AY 2018-19).
The Tribunal annulled a reassessment after finding the AO wrongly assumed no return was filed. It held that a notice under Section 148 issued without applying mind is invalid, reinforcing that “reason to believe” must rest on verified facts.
The Tribunal upheld the CIT(A)’s exercise of newly amended powers under Section 251(1)(a) to set aside an ex-parte order passed under Section 144. Since the assessee was denied due opportunity, the matter was remanded for reassessment. The ruling clarifies that appellate authorities can now direct fresh assessments where procedural fairness was lacking.
ITAT Mumbai fully deleted Rs.7.23 crore in additions made under Sections 69A, 69B, and 69C following a search. The Tribunal ruled that the black diary entries, initially treated as unexplained expenditure, money, and investment, were actually reconciled with the audited ledgers of the LLP, rendering the AO inference as mere conjecture.
ITAT Mumbai held that reassessment orders issued outside the Faceless Scheme and without a valid DIN were void ab initio, striking down additions under Sections 69A/69B.
The ITAT Rajkot deleted a ₹61 lakh addition made under Section 69A, ruling the funds belonged to clients of the assessee who acted as a sub-share broker. The Tribunal held that Section 69A is inapplicable as the assessee was not the owner of the money, which was meant for derivative transactions.
Mumbai ITAT deleted a ₹4.20 lakh addition, quashing the reassessment because the addition was based solely on uncorroborated, retracted search statements and “dumb documents.” The tribunal ruled that once retracted, statements lose evidentiary value without independent verification.
ITAT Agra granted partial relief on a cash deposit addition, accepting ₹60,000 as explained, ruling that money received back from previous advances through banking channels constitutes the assessee’s own money returned.
Detailed overview of penalties under various sections of the Income Tax Act, covering defaults in tax payment, reporting, documentation, and TDS/TCS compliance with prescribed penalty amounts.
