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...
Madras High Court held that even if AO of both searched person and other person is same, for completing Assessment proceedings and passing the Assessment order has to be calculated from the date on which the documents were handed over or deemed to have been handed over to the AO of the “other person”.
ITAT Chandigarh held that excess stock found during the course of survey cannot be brought to tax under the deeming provisions of section 69B of the Income Tax Act as the same is undeclared business income and not unexplained investment.
In the case of ACIT Vs Aaryavart Infrastructure Pvt. Ltd., the Income Tax Appellate Tribunal (ITAT) Ahmedabad ruled that mere maintenance of a bank account with a social co-operative bank cannot be a basis for assuming that the assessee is engaged in accommodation entries. Get insights into the case and the tribunal’s decision.
Bangalore ITAT’s ruling on cash deposits during demonetization raises questions on verification methods. Learn about the case between ITO and Shri Chatrapati Shivaji.
Mumbai ITAT rules that a retracted statement without nexus to the taxpayer cannot justify addition under Sec 69A, offering relief to the appellant in Mayur Kanjibhai Shah Vs ITO.
ITAT Chandigarh held that addition invoking the deeming provisions of section 69 r.w.s. 115BBE of the Income Tax Act unjustified as nature and source of undisclosed income/ investment duly explained by the assessee.
Dive into the case of Pravinbhai Mumabhai Bharwad vs ITO as ITAT Ahmedabad annuls addition under section 69A, highlighting oversight of cash deposit proofs by AO and CIT(A).
ITAT Bangalore held that addition under section 69 of the Income Tax Act unjustified as source of fund duly explained. Rejection of the explanation relating to source of fund by the department without sufficient reason is unsustainable in law.
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.
