The Tribunal set aside ex-parte assessments and appellate orders because the assessee was incarcerated during proceedings. All cases were remanded to the AO for de-novo assessment with directions to grant fair hearing. Takeaway: incarceration does not exempt authorities from observing natural justice.
The Tribunal held that a 143(1)(a) adjustment denying ₹5.05 crore TDS credit was invalid because no mandatory show-cause intimation was issued. It ruled that a 139(9) defect notice cannot substitute the statutory opportunity required under 143(1), resulting in deletion of the entire ₹5.73 crore demand.
Tribunal held that demonetisation cash deposits represented genuine business sales and could not be taxed as unexplained income under sections 68/115BBE. Only ₹25 lakhs was sustained due to incomplete explanation, with the remaining addition deleted.
The order reiterates that mere unusual price movement or high returns do not convert a scrip into a penny stock. With identical facts earlier examined and accepted, the Tribunal followed precedent and removed all additions.
The Tribunal held that unverified WhatsApp chats without Section 65B certification cannot justify additions under Section 69A. Key takeaway: digital messages must be authenticated and corroborated before being used against taxpayers.
A complete guide to understanding when IDS arises, who can claim refunds, and how GST 2.0 rate changes affect refund eligibility. Key takeaway: Refunds are allowed only for accumulated ITC on inputs where tax rates invert.
Understand PAN requirements, mandatory transactions, application rules, Aadhaar linkage, penalties, and correction procedures. A detailed guide on compliance and essential PAN-related provisions.
AIS provides taxpayers with consolidated financial and tax information for accurate return filing. It includes TDS, SFT, GST data, remittances, proceedings, and more, accessible through the e-filing portal.
New CBDT guidelines from 17-10-2024 revise procedures, eligibility, and charges for compounding income-tax offences. Covers filing rules, defect correction, repeat offence charges, and cases needing higher approval.
Summary of Section 40A disallowances, including payments to related parties, cash payments, gratuity provisions, non-statutory fund contributions, and marked-to-market losses under tax rules.
