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Unaccounted Sales Addition Based on 89% Estimated Yield Found Unsustainable without Evidence: Chhattisgarh HC dismisses Revenue’s Appeal [Read Order]

Navasree A.M

The Chhattisgarh High Court has dismissed the Revenue’s appeal ruling that additions made on account of alleged unaccounted sales based on an 89% ...

ITAT Gives Taxpayer a Costly Second Chance; Rs.10,000 Fine for Negligence, Orders Fresh Hearing on...

Non-Intimation by Tax Practitioner Causes Appeal Delay: ITAT Condones 1249-Day Delay, Quashes...

ITAT Scraps Rs. 14.2 Crore 'On-Money' Tax Demand: No Evidence Found Against Real Estate Firm [Read...

Supreme Court refused to condone 215 days in filing SLP Against order Upholding Merger of Short Term...

Delay in Filing Appeal Due to Illiteracy and Email Issues: ITAT Condones 349-Day Delay, Restores Ex-Parte Assessment to AO for Verification [Read Order]

Ningaiah Siddu,The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) condoned a 349-day delay in filing the appeal before the Commissioner of Income Tax (Appeals) [CIT(A)], attributing it...

Books Rejected for Absence of Stock Register and Abnormal Cash Sales: ITAT Upholds Rejection and Confirms 5% Profit Estimation u/s 145(3) [Read Order]

The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) upheld the rejection of books of accounts under Section 145(3) of the Income Tax Act, 1961, and confirmed net profit estimation at 5%,...

ITAT Rules in Favor of Co-op Society: Bank Interest Income Eligible for 80P Deduction [Read Order]

The Pune Bench of Income Tax Appellate Tribunal (ITAT) held that interest income earned by primary co-operative societies from bank deposits qualifies for tax deduction under Section 80P(2)(a)(i),...

ITAT rules in Favor of Jaggery Trader, holds No 40(a)(ia) Disallowance Where Tax already Paid on Interest Income [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune bench, has ruled in favor of a jaggery products trader, holding that no disallowance under Section 40(a)(ia) of the Income Tax Act, 1961, can be made...

ITAT Dismisses Duplicate Appeal Filed by Bajaj Hindusthan Sugar Challenging PF Disallowance as Withdrawn

The Mumbai Bench of Income Tax AppellateTribunal ( ITAT ) dismissed as withdrawn a duplicate appeal filed by Bajaj Hindusthan Sugar Limited challenging the disallowance of delayed employees...

Madras HC Holds Income Tax Revision u/s 263 Time-Barred as Limitation Must Be Computed from Original Assessment Date [Read Order]

The High Court of Madras, held that the revision order passed under Section 263 of the Income Tax Act,1961, was time-barred, as the two-year limitation period must be computed from the date of the...

Supreme Court Declares Hyatt Has Permanent Establishment in India, Must Pay Tax Under Indo-UAE Treaty [Read Judgement]

The Supreme Court of India held that Hyatt International Southwest Asia Ltd., a company incorporated in Dubai, has a permanent establishment (PE) in India under Article 5(1) of the Indo-UAE Double...