Delhi HC declares CBDT Instruction dated 11th May 2022 to the Extent which Propounds 'Travel back in Time' theory Bad in Law [Read Order]
The Delhi High court has observed that the reference made in paragraphs 6.1 and 6.2(ii) of the Instruction No. 01 of 2022 dated 11.05.2022, to the...
![Cash deposited in name of various proprietorship concerns involving in bogus business activities: ITAT directs to restrict addition to extent of 0.05% of gross total [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Cash-Cash-deposited-bogus-business-activities-Cash-deposited-in-name-of-various-proprietorship-concerns-involving-in-bogus-business-activities-taxscan.jpg "Cash deposited in name of various proprietorship concerns involving in bogus business activities: ITAT directs to restrict addition to extent of 0.05% of gross total [Read Order]")
![No Transfer of Possession in Development Agreement: Supreme Court upholds quashing of Income Tax Notice u/s 148 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/No-Transfer-Transfer-of-Possession-in-Development-Agreement-Possession-taxscan.jpg "No Transfer of Possession in Development Agreement: Supreme Court upholds quashing of Income Tax Notice u/s 148 [Read Order]")
![Delhi HC Stays Time Barred Notice Issued u/s 148 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Delhi-High-Court-Delhi-High-Court-Stays-Time-Barred-Notice-Stays-Time-Barred-Notice-Time-Barred-Notice-Notice-Income-Tax-Act-Income-Tax-Tax-News-TAXSCAN.jpg "Delhi HC Stays Time Barred Notice Issued u/s 148 of Income Tax Act [Read Order]")
Allegation of Bogus Transaction in absence of Corroborative Evidence is invalid: Delhi HC Sets aside Notice issued u/s 148 of Income Tax Act [Read Order]
The Delhi High Court set aside the notice issued under section 148 of the Income Tax Act, 1961 in an allegation of bogus transaction in the absence of Corroborative Evidence is...
![Allegation of Bogus Transaction in absence of Corroborative Evidence is invalid: Delhi HC Sets aside Notice issued u/s 148 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Allegation-Bogus-Transaction-Allegation-of-Bogus-Transaction-taxscan.jpg "Allegation of Bogus Transaction in absence of Corroborative Evidence is invalid: Delhi HC Sets aside Notice issued u/s 148 of Income Tax Act [Read Order]")
Scope of decision u/s 148A(d) of Income Tax Act is limited to Existence or Information that Income chargeable to Tax has Escaped Assessment: Allahabad HC [Read Order]
The Allahabad High Court recently ruled that the scope of decision under Section 148A(d) of the Income Tax Act, 1961 is limited to existence or information that income chargeable to tax has escaped...
![Scope of decision u/s 148A(d) of Income Tax Act is limited to Existence or Information that Income chargeable to Tax has Escaped Assessment: Allahabad HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Scope-of-decision-Income-Tax-Act-Existence-Income-Tax-Act-is-limited-to-Existence-or-Information-Information-taxscan-Income.jpg "Scope of decision u/s 148A(d) of Income Tax Act is limited to Existence or Information that Income chargeable to Tax has Escaped Assessment: Allahabad HC [Read Order]")
AO Triggered Reassessment without due Application of Mind: Delhi HC Quashes Notice Issued u/s 148 of Income Tax Act [Read Order]
The Delhi High Court quashed the Re assessment notice under section 148 of the Income Tax Act, 1961 triggered by the Assessing Officer (AO)without due application of mind. Shashi Mohan...
![AO Triggered Reassessment without due Application of Mind: Delhi HC Quashes Notice Issued u/s 148 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/AO-Reassessment-AO-Triggered-Reassessment-Application-AO-Triggered-Reassessment-without-due-Application-of-Mind-Application-of-Mind-taxscan.jpg "AO Triggered Reassessment without due Application of Mind: Delhi HC Quashes Notice Issued u/s 148 of Income Tax Act [Read Order]")
Failure by AO to Demonstrate Deficiency in Explanation: Delhi HC quashes Income Tax Notice [Read Order]
The Delhi High Court quashed income tax notice as there was failure on the part of the Assessing Officer (AO) to demonstrate deficiency in explanation. By the writ petition, challenge is laid to...
![Failure by AO to Demonstrate Deficiency in Explanation: Delhi HC quashes Income Tax Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-by-AO-Demonstrate-Deficiency-Delhi-High-Court-quashes-Income-Tax-Notice-Income-Tax-Notice-Income-Tax-Act-Income-Tax-TAXSCAN.jpg "Failure by AO to Demonstrate Deficiency in Explanation: Delhi HC quashes Income Tax Notice [Read Order]")
ITAT deletes Addition made towards Gift of cash amount deposited in ICICI Bank received from in laws [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench deleted the addition made towards the gift of cash amount deposited in the ICICI Bank, received from the father-in-law and mother-in-law of the...
![ITAT deletes Addition made towards Gift of cash amount deposited in ICICI Bank received from in laws [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-deletes-Addition-made-towards-Gift-of-cash-amount-deposited-ICICI-Bank-taxscan.jpg "ITAT deletes Addition made towards Gift of cash amount deposited in ICICI Bank received from in laws [Read Order]")
Failure of Assessee to provide Evidence/Convincing reply about Goods received: ITAT made disallowance of 5% on account of Profit element [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) made a disallowance of 5% on account of the profit element due to the failure of the assessee to provide evidence/convincing reply about...
![Failure of Assessee to provide Evidence/Convincing reply about Goods received: ITAT made disallowance of 5% on account of Profit element [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-of-Assessee-Evidence-Convincing-reply-Goods-received-ITAT-made-disallowance-account-of-Profit-element-TAXSCAN.jpg "Failure of Assessee to provide Evidence/Convincing reply about Goods received: ITAT made disallowance of 5% on account of Profit element [Read Order]")
Advance Payment for Purchase of Land and Deposit in Capital Gain Scheme Account Established: ITAT Dismisses Income Tax Dept's Appeal [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that advance payment made for the purchase of land stand establish as the same was through a banking channels and the bank certificate of...
![Advance Payment for Purchase of Land and Deposit in Capital Gain Scheme Account Established: ITAT Dismisses Income Tax Depts Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Advance-Payment-for-Purchase-of-Land-Deposit-in-Capital-Gain-Scheme-Account-Established-Advance-Payment-TAXSCAN.jpg "Advance Payment for Purchase of Land and Deposit in Capital Gain Scheme Account Established: ITAT Dismisses Income Tax Depts Appeal [Read Order]")