Income Tax : ITAT Chennai rules unaccounted customer deposits, with traceable identities and commercial substance, are liabilities, not income ...
Income Tax : Overview of Income Tax Sections 69A, 69B, on unexplained income, investments, and expenditures. Key cases and interpretations incl...
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 : ITAT Ahmedabad held that weighted deduction under section 35(1)(ii) of the Income Tax Act rightly disallowed as donation is given ...
Income Tax : ITAT Delhi held that addition under section 69C of the Income Tax Act towards bogus purchases cannot be sustained merely for failu...
Income Tax : Chhattisgarh High Court sets aside tax orders in B.L. Agrawal case, citing failure to consider key evidence on alleged black money...
Income Tax : Mumbai ITAT dismisses tax additions on share sale gains and purchase cost, citing assessee's documentation and accepted source in ...
Income Tax : ITAT Raipur held that providing unreasonably short period of time of six days for furnishing reply vide notice issued u/s. 148A(b)...
Discover the tax implications and rates for undisclosed sources of income under Sections 68-69D of the Income Tax Act, 1961. Learn about cash credits, unexplained investments, and more.
Discover the ITAT Chennai verdict on Santhilal Jain Vijay Kumar Vs ITO, addressing taxation on excess stock and unexplained marriage expenses. Read the full case analysis.
The ITAT Bangalore ruled that income tax additions can’t be based solely on unsubstantiated loose slips, emphasizing the need for corroborative material evidence.
Rajasthan HC dismisses Income Tax Dept’s appeal, upholds ITAT decision deleting additions on capital gain from share sale. Read the full judgment here.
Detailed analysis of ITAT’s decision to delete the Section 69C addition for capital introduced by a partner in the Shivam Developers vs DCIT case at Ahmedabad.
Explore the ITAT Mumbai’s ruling on Section 249(4)(b) in Income Tax Reassessment Proceedings. Detailed analysis of Nine Globe Industries Pvt. Ltd Vs ACIT case.
Delhi High Court rules unexplained expenditure addition, based solely on CBIC instruction, not sustainable. Details of the case here.
Read the full judgment/order of Madras High Court quashing an I-T assessment order adding Rs. 16Cr unexplained expenditure without reasonable time. Portal reopening ordered.
Explore the ITAT Delhi ruling on deletion of additions based on manual cash books in Section 153A assessments.
Understand the implications of unexplained expenditure as Hyfun Foods challenges an addition of Rs. 95,47,000/- under section 69 of the Income Tax Act. Detailed analysis and verdict included.
