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 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 : Explore the implications of taxation under section 115BBE, including misuse of sections 68 to 69D, consequences of high tax rates,...
Income Tax : Explore the tax implications of undisclosed income from Section 68 to Section 69D. Learn about tax rates, explanations, and condit...
Income Tax : Discover the ITAT Chennai verdict on Santhilal Jain Vijay Kumar Vs ITO, addressing taxation on excess stock and unexplained marria...
Income Tax : Understand Parmod Singla Vs ACIT (ITAT Chandigarh) case on excess stock surrendered during survey and its tax implications under ...
Income Tax : Read the detailed analysis of the ITAT Chandigarh verdict on DDK Spinning Mills vs DCIT, focusing on the implications of Section 6...
Income Tax : ITAT Chennai rules in favor of Revathi Modern Rice Mill, determining that excess stock is assessable as business income, not unex...
Income Tax : The ITAT Bangalore ruled that income tax additions can't be based solely on unsubstantiated loose slips, emphasizing the need for ...
ITAT Delhi held that “full value of consideration” or “cost of investment” cannot be substituted by the fair market value (FMV), except in the case falling within the purview of 50C and Sec. 56(l)(vi)/(vii) of the Income Tax Act.
Rajkot ITAT confirms gross profit estimation and stock addition for Raghuvanshi Cotton Ginning, highlighting the importance of accurate stock reporting.
ITAT Mumbai held that non-response to notice u/s. 133(6) of the Income Tax Act by some parties that does not prove that the entire transactions are bogus especially when all other documents to prove the identity and creditworthiness of the parties have been submitted
Explore the Jharkhand High Court’s decision in Pasari Casting vs. Income Tax Department, addressing a critical tax reassessment issue. A detailed analysis inside.
ITAT Chennai’s in Ethiraj Hotel Mart Vs DCIT held that as assessee declared excess stock as business income and provided a plausible explanation for its source, it should be taxed as ‘normal business income’ and not as ‘unexplained investment’ under section 69B.
ITAT Kolkata held that education cess is not allowable expenditure under section 37(1) of the Income Tax Act.
Read the ITAT Pune order on Vijay Shriram Gundale’s appeal. Excess stock during survey deemed as business income, not other source income. Detailed analysis provided.
Explore the ITAT Delhi ruling in DCIT vs. Tapesh Tyagi case, clarifying that Section 115BBE doesn’t apply to surrendered income treated under Section 69A.
ITAT Chennai held that addition towards unexplained investment u/s. 69B of the Income Tax Act unsustainable as based merely on the basis of statement of Director of the Vendor Company without any additional corroborative evidence.
ITAT Delhi held that commission taxed @2% of the amount of accommodation entries provided by the assessee has not been made on ad hoc basis, however, the same is as per prevailing market rate. Accordingly, the addition is sustained.
