Read all Latest Updates on and about section 132 of the Income Tax Act

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No Incriminating Evidence Found during Search: ITAT deletes Rs. 58.73 cr Addition on Dalmia Family Trust [Read Order]

The Income Tax Appellate Tribunal (ITAT) Delhi Bench has upheld the order of the Commissioner of Income Tax who deleted the addition of ₹58.73 crore...

Settlement Commission Must Examine ‘Full & True Disclosure’ of Undisclosed Income Before Rejection:...

S. 158BA(2) Abatement Not Automatic Unless Case Falls Under Block Assessment Scheme: Orissa HC...

Supreme Court Hears PIL Challenging Income Tax Act 2025 Powers to Search Digital Devices, Cloud...

Post-Finance Act, 2021 Search Assessments Must Follow S.148 Regime: ITAT Quashes Income Tax...

Unauthenticated Digital Data Cannot Sustain Addition: ITAT Quashes ₹9.40 Crore u/s 69C [Read Order]

The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has held that an addition towards unexplained expenditure under Section 69C of the Income TaxAct, 1961, made solely based on...

No Addition Permissible in Unabated AY Without Incriminating Material Found During Search: ITAT Deletes Rs. 7.25 Crore Addition [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) deleted ₹7.25 crore addition under Section 68, holding that no addition can be made in an unabated assessment year without incriminating...

Unauthenticated Excel Sheets and Emails Sent by Lenders deemed "Dumb Documents" for interest Addition: ITAT quashes order [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) held that loose papers, printouts, or emails not forming part of the assessee’s regular books and lacking independent corroboration were ...

Political Party Denied Section 13A Exemption for Non-Compliance: ITAT Directs Income Taxable at 6% Commission Rate [Read Order]

The New Delhi Bench of Income Tax Appellate Tribunal (ITAT) denied Section 13A exemption to a political party for persistent statutory non-compliance and held that Section 13A conditions are...

‘Base Note’ from French Govt. is Not Incriminating Material for Income Tax Addition u/s 153A: Bombay HC [Read Order]

The Bombay High Court recently clarified that a “base note” received from the French Government under international information exchange arrangements does not constitute incriminating material for...

Loose Papers, WhatsApp Chats Not Enough: ITAT Quashes S. 69A Additions in Balmukund Group Cases [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT), has held that additions for alleged unaccounted income cannot be sustained merely on the basis of loose papers, rough cash jottings, or...

Income Tax Dept. cannot Deny STCL Set-off against LTCG after accepting Same Claim in Factually-Identical Connected Cases: Bombay HC [Read Judgment]

The Bombay HighCourt has held that the Income Tax Department cannot deny the set-off of short-term capital loss (STCL) against long-term capital gains (LTCG) to an assessee after having accepted the...