Read all Latest Updates on and about Commissioner of Income Tax

Begin typing your search above and press return to search.

Home
»
Commissioner of Income...

Satisfaction Note Lacked Reference of Income Escapement in the Form of Assets Worth ₹50 Lacs: ITAT quashes Reassessment Beyond 6 Yrs [Read Order]

The Chennai Bench of the Income Tax AppellateTribunal (ITAT) ruled that the AO must record a "Satisfaction Note" expressly stating that they possess...

S. 153C cannot be invoked against Searched Person: ITAT Rules Assessment required u/s 153A,...

Unauthenticated Excel Sheets and Emails Sent by Lenders deemed "Dumb Documents" for interest...

Notices to suspend activities and Maintain Status Quo Not Seizure: ITAT Rules closing stock cannot...

Reopening Invalid Due to Mismatch in Sanctioning Authorities and Lack of Proper Sanction u/s 151:...

Entire Purchase Amount cannot be Disallowed when Sales accepted and Stock Records maintained: ITAT restricts Bogus Purchase addition to 5% [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) restricted a bogus purchase addition to 5% and ruled that the Assessing Officer (AO) cannot treat the entire purchase amount as non-genuine...

S. 80P Benefits cannot be Denied to Registered Housing Society in absence of Cancellation by Registrar: ITAT Deletes Addition [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the benefits under Section 80P cannot be denied to registered housing society as the registration was not cancelled by the ...

Payments by Developer on Behalf of Housing Society Not Taxable as ‘Income from Other Sources’: ITAT [Read Order[

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) held that expenditures discharged by a re-developer for statutory fees and site infrastructure did not constitute "Income from other...

S. 68 Not Attracted as Repayment Established by Banking Channels: ITAT upholds Deletion of ₹2.90 Cr Addition [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeal and where an assessee establishes the identity, creditworthiness, and genuineness of a transaction ...

IEA Inapplicable to Income Tax Proceedings: ITAT Rejects Challenge to Electronic Data Lacking S.65B Certification [Read Order]

The tribunal observed that the Indian Evidence Act (IEA) did not strictly apply to Income Tax proceedings, and the absence of a certificate under Section 65B did not render seized electronic data ...

Search Assessment Not Barred by Limitation if Order is Passed within Statutory Period Regardless of Service Date: ITAT [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) held that search assessment was not barred by limitation if the order of the assessment was passed within the statutory period stated in...

Taxpayer Not Required to Prove ‘Source of Source’ Once Creditor Identity is Established: Patna HC on S. 68 Addition, sets aside ITAT Order [Read Order]

The Patna High Court, in its ruling has held that once an assessee establishes the identity of the creditor and the banking trail, the Revenue cannot insist that the assessee must also prove the...