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ITAT Condones 186-Day Delay and Remands Case to AO for Fresh Examination Due to Ex-Parte Assessment and Inadequate Representation [Read Order]

Sneha Sukumaran Mullakkal

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) condoned a 186-day delay in filing the appeal and remanded the case to the Assessing...

ITAT quashes Assessment Order for Time-Barred Reopening and Incorrect Ownership Assumption [Read...

ITAT upholds CIT(A) Order, Dismissing Revenue's Challenge on Unexplained Loan Repayment of Rs. 1.04...

NFAC Validates AO's Action without Examining Taxpayer’s Submissions: ITAT remands for fresh...

ITAT declares Reopening u/s 147 Invalid due to Lack of Fresh Tangible Material [Read Order]

Filing of Turnover in a tender process would not exempt from furnishing the Income Tax Return: Gauhati HC [Read Order]

The Gauhati High Court has held that filing of turnover in a tender process would not exempt from furnishing the income tax return ( ITR ). The court held that the words “Turnover” and “Income Tax...

Income Tax Case Digest: Addition on Bogus Purchases under Income Tax Act

The word bogus refers to fake, false, sham, or not genuine. Bogus purchases under the Income Tax Act, 1961 refer to transactions where taxpayers falsely claim purchases from fictitious or...

Hearing Opportunity not Provided by CIT(A) while Not Condoning Delay: ITAT restores Appeal for Fresh Adjudication [Read Order]

In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) restored the file in which penalty was imposed on the assessee for fresh adjudication due to procedural lapses...

ITAT overturns ₹1.2 Crore Income Tax Additions from Penny Stock Sale, vitiates Presumption of ‘Human Probabilities’ [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted additions of Rs. 1.2 crore made by an Assessing Officer (AO) on the basis of alleged ‘human probabilities’ that the...

Issuance of Scrutiny Notice Despite Knowing of Amalgamation: Calcutta HC Declines to Apply S. 292B of Income Tax Act [Read Order]

In a significant case, the Calcutta High Court declined to apply Section 292B of the Income Tax Act, 1961 in the case where the scrutiny notice issued in an amalgamating company's name, despite the...

Factual Examination on 'Addition' of Unexplained Cash Credit under Income Tax Act Is Beyond Scope Of Appeal u/s 260A: Calcutta HC [Read Order]

In a significant ruling, the Calcutta High Court has held that it cannot interfere in factual examination of the material produced or not produced by an assessee-company to explain the share...

ITAT caps S.14A Disallowance at 1% of Dividend Income for Period prior to Rule 8D, Income Tax Rules [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) recently directed an Assessing Officer ( AO ) to disallow 1% of dividend income as expenditure under Section 14A of the Income Tax Act,...

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