Income Tax : Income without satisfactory explanation is taxed at a special high rate under Section 115BBE. The provisions place strict liabilit...
Income Tax : Courts have clarified that purchases cannot be disallowed without proper evidence. Genuine transactions supported by documents can...
Income Tax : ITAT held that section 69 cannot be invoked where purchases are duly recorded in books and paid through banking channels, making t...
Income Tax : Detailed overview of penalties under various sections of the Income Tax Act, covering defaults in tax payment, reporting, document...
Income Tax : Delhi ITAT deleted a 69C unexplained expenditure addition for alleged bogus purchases, ruling that when corresponding sales are ac...
Income Tax : The Tribunal held that disallowance of interest cannot be finalized when the validity of underlying loans is still under appeal. I...
Income Tax : The issue was whether purchases could be treated as bogus based on investigation reports. ITAT held that when documentary evidence...
Income Tax : The Tribunal held that purchases cannot be treated as bogus when supported by invoices, bank payments, and GST records. It ruled t...
Income Tax : The issue was whether income from hybrid seed production on leased land qualifies as agricultural income. The Tribunal held that o...
Income Tax : The issue was whether reassessment is valid without proper service of notice. The Tribunal held that absence of valid service make...
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.
ITAT Mumbai deletes addition on whole amount from sale of shares in Nikunj Kaushik Shah Vs ITO case, criticizing unwarranted litigation, incompetence & casual approach
