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...
Chandigarh ITAT remands DTC Trading Co. tax appeal for fresh hearing, citing advocate’s depression and memory loss as sufficient cause for ex-parte order.
Assessee claimed that cash sales were recorded and backed by VAT invoices, and that AO had misread e cash balance figures. Audited financials, VAT returns, and confirmations were placed on record, which AO had not examined.
ITAT Ahmedabad confirms CIT(A)’s decision, ruling Section 69A inapplicable as high-value bank transactions were explained and recorded.
ITAT Ahmedabad held that delay of 477 days in filing of an appeal on the reason that there was gross negligence on the part of the accountant is not condonable since negligence of accountant not sufficient shown for cause.
The addition of Rs.0.58 Crores as made for cash deposit in the account of IJF with respect to Maheshwari Brothers Coal also stand deleted on same logic. The corresponding grounds of appeal stand allowed.
ITAT Delhi held that addition under section 69A of the Income Tax Act towards cash deposits as unexplained money cannot be sustained since the cash deposits is already recorded in books of accounts. Accordingly, appeal allowed.
Once assessee had filed the Return of Income, in response to notice, u/s 142(1), (although it was late), then it was mandatory for AO, in order to acquire the jurisdiction, to make the assessment on the assessee, to issue the notice u/s 143(2).
ITAT Ahmedabad held that provisions of section 69A r.w.s. 115BBE of the Income Tax Act gets applicable as source of undisclosed income admitted during the course of survey not explained. Merely disclosing and paying tax doesn’t protect assessee from clutches of section 69A.
ITAT Ahmedabad reviews Sankalp Recreation’s tax appeals concerning unaccounted income, expenses, book rejection, and PF/ESIC disallowances following a search operation.
There is no cavil that an addition can made on the basis of documents, which are found during the course of Search and Seizure operations if on appreciation, it is found that the said documents have a bearing on the income of the Assessee.
