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Alleged Shell Company Transactions: ITAT deletes ₹15 Lakh Addition u/s 68 [Read Order]

Advika Dwivedi

The bench of the Income Tax Appellate Tribunal, Kolkata, set aside the addition of ₹15,00,000 made under Section 68 of the Income Tax Act, 1961,...

Mere Audit Report Omission of Transaction alone Cannot Support Addition when Books are Proper and AO...

Advance Tax Liability arises Only with Taxable Income, Not Otherwise: ITAT remands Matter to CIT(A)...

Jewellery Trader’s ‘Job-Work’ Defence Rejected as Afterthought: Madras HC upholds AO’s Findings of...

Delay in Issuing S.143(2) Notice: ITAT quashes Income Tax Reassessment Order [Read Order]

Dealer Fails to Appear Due to Illness: Madras HC Quashes Sales Tax Ex Parte Order, Remands Matter on Sales of Children’s Educational Books [Read Order]

In a recent ruling, the Madras High Court set aside an ex parte order passed by the Sales Tax Appellate Tribunal after the dealer failed to appear due to illness and remanded the case for fresh ...

“Commercial Activity”: ITAT denies Section 10(23C) Exemption to Trust Running Hostels for Non-Students [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has ruled that Shree Vallabh Seva Kendra, a charitable trust, is not eligible for exemption under Section 10(23C)(vi) of the Income Tax...

Assistant Commissioner (ST) Found Explanations in 39 Slips “Very Satisfactory” Yet Ordered Remand Instead of Allowing: Madras HC Quashes Order [Read Order]

In a recent ruling, the Madras High Court held that when an authority has recorded that an assessee’s explanations for all entries in the seized records are “very satisfactory,” it should allow the ...

Debatable Warranty Provision Disallowance u/s 37(1) Falls Outside Section 154 Scope: ITAT [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that the disallowance of warranty provisions under section 37(1) of Income Tax Act,1961, was a debatable issue and could not be ...

Rs. 9.98 Lakh Income Tax Refund with Interest Delayed by Tax Authorities: Delhi HC Directs Payment within Eight Weeks [Read Order]

The High Court of Delhi, directed payment within eight weeks of Rs. 9.98 lakh as income tax refund along with interest for four assessment years which had been delayed by the tax authorities. ...

EDC Charges Paid to Haryana Development Board Not Rent: Delhi HC Holds Real Estate Developer Not Liable to Deduct TDS [Read Order]

The Delhi High Court recently dismissed an appeal filed by the Revenue, holding that External Development Charges (EDC) paid to the Haryana development authority by a real estate developer is not...

Agricultural Land Classified as Residential by SVA: ITAT Directs Fresh Verification by CIT(A) on Addition u/s 56(2)(x)(b) [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) directed fresh verification by the Commissioner of Income Tax (Appeals)[CIT(A)] on the addition under section 56(2)(x)(b) of Income Tax ...

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