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Excel Sheet Relating to Alleged Unaccounted Cash Sales from Nirav Modi Jewelry Store: ITAT dismisses Addition under Section 69A of Income Tax Act [Read Order]

Sneha Sukumaran Mullakkal

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) dismissed the addition under section 69A of the Income Tax Act,1961, which was based on...

CBDT extends Income Tax Audit Report Filing Deadline to October 7 [Read Circular]

TOLA, 2020 does not affect Sanction Powers for Income Tax Reassessment: Delhi HC [Read Order]

ITAT Weekly Round Up

ITAT Remands Case to AO for Fresh Examination of Registration Status u/s 12AA and Applicability of...

Agriculturist not having Legal Awareness fails to file Appeal before CIT(A): ITAT Condones 725 days Delay [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ) of Ahmedabad condoned a delay of 725 days in the case of an agriculturist from Banaskantha, Gujarat, who failed to file an appeal before...

Relief to Adani Wilmar: Notional Guarantee Income Increasing Investment Cost cannot be Treated as Actual Income, Rules ITAT [Read Order]

In a recent ruling, the Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) ruled that that notional guarantee increasing investment cost cannot be treated as actual income. The...

Three Hearings within 2 Months by CIT(A): ITAT Remands Ex-Parte decisions for Natural Justice Violation [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ) SMC-'A' Bench, Bangalore, remanded an ex-parte decision passed by the Commissioner of Income Tax (Appeals) [CIT(A)] back for...

COVID-19 prevented Assessee from complying with Income Tax Notices: ITAT quashes Penalty u/s 272A(1)(d) [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Pune Bench recently quashed a penalty under Section 272A(1)(d) of the Income Tax Act, 1961, citing COVID-19 as a valid reason for non-compliance with...

Explanation Inserted to S. 14A of Income Tax Act vide Finance Act, 2022 Applicable Prospectively: Gauhati HC [Read Order]

The Gauhati High Court, in a recent case has held that the explanation inserted to Section 14A of the Income Tax Act, 1961 vide Finance Act, 2022 is applicable prospectively. Further held...

Issue on Acceptance of Additional Evidence against Addition u/s 68 of the Income Tax Act: Kerala HC posts Disposal October 21 [Read Order]

In a recent case on the issue of validity of additional evidence against addition made under section 68 of the Income Tax Act, 1961, the Kerala High Court posted the matter for disposal on...

Six-Day Period to Furnish Reply Instead of Seven as per Income Tax Act: Karnataka HC Quashes Reassessment Notice and Demand [Read Order]

The Karnataka High Court quashed a reassessment notice issued to Massood Gulam by the Income Tax Officer ( ITO ), due to non-compliance with the statutory requirement of providing a minimum of seven...

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