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Rs. 50 Lakhs Cash Seized on Search u/s132 of Income Tax: Delhi HC directs to Treat Seized Cash as Advance Tax [Read Order]

Yogitha S. Yogesh

The Delhi High Court in a recent case held that cash seized on search under section 132 of the Income Tax Act, 1961 can be treated as advance tax....

Commission charged by AO considering Market Trend in Providing Accommodation Entries, not on Ad-Hoc...

Income Tax Dept cannot withhold Gold on ground of Pending Addition Against Sending Party: Gujarat HC...

Addition made on Foreign Travelling Expenses of Non-Resident Indian Director for Looking Affairs of...

Absence of Incriminating Material for order u/s 153A of the Income Tax Act: Delhi HC dismisses...

Addition can’t be sustained on the basis of Statements: ITAT [Read Order]

The Income Tax Appellate Tribunal - ITAT, Kolkata bench has held that an addition under section 68 of the Income Tax Act, 1961 cannot be sustained on the basis of the statements. The appellant, M/s....

Gold which have been duly Declared in the Wealth Tax Returns can’t be Seized during Search Operations: ITAT says Search Party can decide whether to follow CBDT Guidelines [Read Order]

While hearing the case of Shri Keshav Lila vs Assistant Commissioner of Income Tax, Indore bench of Income Tax Appellate Tribunal (ITAT) held that the gold which have been duly declared in the wealth...