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Non-discharge of Onus of Proof by AO: Bombay HC quashes treatment of Purchase Expenses as Bogus [Read Order]

Avinash Kurungot

The Bombay High Court ( Bombay HC ) recently set aside an order by the Income Tax Appellate Tribunal ( ITAT ) and Revenue Department, ruling that the...

AO erred in Adding ₹12.10 Lakh to Income instead of ₹27 Cr: ITAT upholds Revision Order [Read Order]

Sales of ‘Kaccha Arahtia’ for Principal excluded from Turnover u/s 44AB: ITAT directs to Credit...

Pendency of Appeal w.r.t. Joint Development Agreement: ITAT Condones Delay of 395 Days to Avoid...

ITAT Members get reshuffled Places of Posting: Central Govt issues Transfer Order [Read Order]

ITAT quashes Income Tax Additions based on Third Party Statements [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) has quashed income tax additions based solely on third-party statements, as seen in the recent ruling in Olive Overseas Pvt. Ltd. vs. DCIT. In this case,...

Calcutta HC allows Income Tax Deduction u/s 80IA on Port Infrastructure Development [Read Order]

While upholding the order of Income Tax Appellate Tribunal ( ITAT ), the Calcutta High Court held that deduction under section 80IA of the Income Tax Act is allowable on port infrastructure...

[BREAKING] “Purchases in question were not Bogus”: ITAT uses CESTAT Ruling Ratio to quash Income Tax Revision Proceedings [Read Order]

In a significant ruling, the Income Tax Appellate Tribunal ( ITAT ) quashed the revision proceedings under Section 263 of the Income Tax Act initiated against the assessee at Vadodara, for Assessment...

Approval of S. 153D Assessment on Next day by Addl. CIT: ITAT quashes Demand Order [Read Order]

Recently in a case, the Income Tax Appellate Tribunal ( ITAT ) quashed a demand order that arose from an assessment approved under Section 153D of the Income Tax Act 1961 (ITA), The assessee/...

Non-Compliance and Failure to Explain Bank Credits: ITAT upholds ₹3.13 Crore S.69 Addition under Income Tax [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ) upheld the addition of ₹3.13 crore as unexplained cash deposits in the bank accounts of an appellant, citing his failure to provide any...

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...

Supreme Court confirms Kerala High Court decision upholding Income Tax Levy on Compensation for Relinquishing Trusteeship [Read Judgement]

The Division Bench of the Supreme Court of India confirmed the decision of the High Court of Kerala upholding the Income Tax levying on compensation for relinquishing Trusteeship. Because the...

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