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...
ITAT Jaipur held that exercise of revisionary power under section 263 of the Income Tax Act on the basis of audit objection is not tenable in law. Accordingly, initiation of proceedings liable to be quashed.
ITAT Nagpur allows Revenue’s appeal in ACIT Vs Unique Realities Builders & Developers, validating Section 153C proceedings and Section 69A income additions.
ITAT Hyderabad held that resorting to estimation of profit in case of best judgement assessment without rejection of books of accounts is unjustifiable. Accordingly, matter set aside to the file of the lower authorities for reconsideration of the issue.
ITAT Chennai held that provisions of section 69A of the Income Tax Act could not be invoked when cash is sourced out of recorded sales. Accordingly, appeal allowed and addition u/s. 69A is liable to be deleted.
ITAT Raipur held that adding entire bank receipts without inquiries from parties is unjustified. Case remanded for further examination under natural justice principles.
ITAT Ahmedabad deletes addition of ₹6.16 lakh under Section 69A for unexplained jewellery, considering joint ownership of locker and affidavit from the daughter.
ITAT Lucknow held that cash deposits out of the past savings during demonetization being reasonable and as per social standing of the assessee is justifiable. Accordingly, appeal of the assessee allowed and addition is directed to be deleted.
Learn how the PCIT correctly invoked Section 263 of the Income Tax Act due to the AO’s misapplication of law in taxing Stamp Duty Valuation and Unexplained Investment. Explore detailed analysis of Section 56(2)(x), Section 69, and key judicial precedents.
ITAT Ahmedabad upholds ₹4.64 crore addition under Section 69A due to unexplained bank transactions and lack of cooperation from the assessee in tax proceedings.
ITAT Pune rules that taxpayers must disclose cash-in-hand, bank balances, and receivables, even under the Presumptive Taxation Scheme, for accurate tax assessment.
