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Nandan GK

Nandan GK

    ITAT Quashes PCIT’s Order u/s 263 for Relying on Audit Objection [Read Order]

    The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) held that Section 263 of the Income Tax Act, 1961, which empowers the Principal Commissioner of Income Tax (PCIT) to revise...

    ITAT Quashes PCIT’s Order u/s 263 for Relying on Audit Objection [Read Order]
    Nandan GK

    ITAT Allows Bad Debt Write-Off w/o Proof of Irrevocability, Protects Legitimate Transactions [Read Order]

    In a recent case, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that writing off bad debt in the books is enough for deduction, without the need to prove irrecoverability. ...

    ITAT Allows Bad Debt Write-Off w/o Proof of Irrevocability, Protects Legitimate Transactions [Read Order]
    Nandan GK

    Lack of Jurisdiction Disqualifies Entire Tax Proceedings against NRI: ITAT [Read Order]

    The Income Tax Appellate Tribunal (ITAT), Chandigarh Bench, recently held that a lack of proper jurisdictional authority and improper notice service invalidates the entire tax proceedings. The...

    Lack of Jurisdiction Disqualifies Entire Tax Proceedings against NRI: ITAT [Read Order]
    Nandan GK

    ITAT dismisses Tax Appeal as assessee Applies for Vivad Se Vishwas Scheme [Read Order]

    In a recent case, the Income Tax Appellate Tribunal (ITAT) in Mumbai granted the assessee's request to drop their appeal after the assessee opted for the Vivad Se Vishwas (VSV) Scheme. The...

    ITAT dismisses Tax Appeal as assessee Applies for Vivad Se Vishwas Scheme [Read Order]
    Nandan GK

    ITAT Rules that the Addition of Unexplained Cash Credit u/s.68 is Invalid After Rejecting the Books of Accounts [Read Order]

    The Indore bench of the Income Tax Appellate Tribunal (ITAT) ruled that the taxation of unexplained cash credit is invalid after rejecting the books of accounts following a sharp rise in cash...

    ITAT Rules that the Addition of Unexplained Cash Credit u/s.68 is Invalid After Rejecting the Books of Accounts [Read Order]
    Nandan GK

    Rental Income From Trust Property cannot be Treated as Business Income: ITAT [Read Order]

    The Mumbai bench of Income Tax Appellate Tribunal (ITAT) ruled that a trust's rental income cannot be taxed as business income since the property was leased without additional services, confirming it...

    Rental Income From Trust Property cannot be Treated as Business Income: ITAT [Read Order]
    Nandan GK

    ITAT Strikes Down Reassessment based on Borrowed Satisfaction [Read Order]

    The Income Tax Appellate Tribunal (ITAT), Mumbai held that reopening an assessment based solely on an external report, without the Assessing Officer’s (AO) independent application of mind, makes the...

    ITAT Strikes Down Reassessment based on Borrowed Satisfaction [Read Order]
    Nandan GK

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