Income Tax : The Sections by which the assessees are suffering too much due to high pitched assessments passed by NFAC are from 68 to 69D and 1...
Corporate Law : Assessees face 78% tax and 6% penalty for unexplained investments or expenditures under Sections 69 to 69C of Income Tax Act if de...
Income Tax : Learn about penalty provisions under the IT Act, including penalties for defaults in tax payment, income reporting, and more. Key ...
Income Tax : Article explains how surrendered income is treated under I.T Act, particularly focusing on applicability of Sections 68 to 69D and...
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 : ITAT Pune remands an ex-parte order after considering the senior citizen assessee’s tech constraints, allowing fresh appeal proc...
Income Tax : CIT (A) was right in its decision to delete the addition of Rs. 2.92 crore made by AO under Section 69B for alleged undervaluation...
Income Tax : CIT (A) erred in treating the loan of Rs.90.52 crores u/s 69A/69B when the show cause notice of enhancement was with reference to ...
Income Tax : ITAT Surat held that addition based on unsigned, undated and unstamped Satakhat/ sale and purchase agreement cannot be sustained s...
Income Tax : ITAT Delhi held that addition towards undisclosed investment in shares and unsecured loans merely based on observation made by DCI...
ITAT Delhi quashes revision order, ruling that additional income surrendered during survey proceedings should not be taxed at 60% under Section 115BBE of the Income Tax Act.
ITAT Amritsar held that excess stock found during the survey only be treated as income under the head business income and not as deemed income under section 69B of the Income Tax Act.
Read how ITAT Mumbai ruled in favor of KVR Infra in a case involving inflated cost of a crane in an agreement for higher banking loan. Detailed analysis here.
ITAT Amritsar held that once source of surrendered income is proved to be business income, the same cannot be taxed as deemed income under section 69 read with section 115BBE of the Income Tax Act.
ITAT Delhi held that towards unexplained money u/s. 69A of the Income Tax Act merely on the basis of unsigned unexecuted draft agreement to sale without any other collaborative evidence is unsustainable in law.
Explore the landmark ruling of Vijay Shriram Gundale Vs ACIT by ITAT Pune. Learn how excess stock income is categorized as business income, exempt from Section 69B of the Income Tax Act.
An in-depth analysis of ITAT Mumbai’s landmark decision in the case of ITO vs Kamalesh Mohandas Lakhwani. Explore why mere suspicion isn’t enough for additions under Section 69B of the Income Tax Act.
ITAT Mumbai held that interest paid on housing loan borrowed for purchase of flat is not allowable as cost of acquisition.
ITAT Chennai rules in favor of Mookambika Impex, stating that excess stock is due to regular business activities. Dive into the detailed analysis.
ITAT Mumbai held that addition under section 69B of the Income Tax Act towards unexplained investment sustained excel sheet and whatsapp chat are incriminating material found and seized during the course of search action.
