Supreme Court Defers SLP Involving Alleged Rs.38,000 Crore Tax Evasion, calls on Revenue to file Supplementary Affidavit [Read Judgement]
The Supreme Court of India recently adjudicated a Special Leave Petition involving an alleged tax evasion of Rs.38,000 Crore, providing a period of...
![Issuance of Scrutiny Notice Despite Knowing of Amalgamation: Calcutta HC Declines to Apply S. 292B of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Calcutta-HC-Calcutta-High-Court-Section-292B-of-the-Income-Tax-Act-Income-Tax-Income-Tax-Act-Issuance-of-Scrutiny-Notice-taxscan.jpg "Issuance of Scrutiny Notice Despite Knowing of Amalgamation: Calcutta HC Declines to Apply S. 292B of Income Tax Act [Read Order]")
![Factual Examination on Addition of Unexplained Cash Credit under Income Tax Act Is Beyond Scope Of Appeal u/s 260A: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Calcutta-HC-Calcutta-High-Court-Factual-Examination-Unexplained-Cash-Credit-Income-Tax-Act-Section-260A-of-the-Income-Tax-Act-taxscan.jpg "Factual Examination on Addition of Unexplained Cash Credit under Income Tax Act Is Beyond Scope Of Appeal u/s 260A: Calcutta HC [Read Order]")
![Delayed Income Tax Penalty Order u/s 271C for failure to Deduct TDS not Sustainable: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Delhi-High-Court-Delhi-HC-Income-Tax-Penalty-Delayed-Income-Tax-Penalty-Order-Income-Tax-Tax-Deducted-at-Source-taxscan.jpg "Delayed Income Tax Penalty Order u/s 271C for failure to Deduct TDS not Sustainable: Delhi HC [Read Order]")
![Turnover Discrepancy of Rs.86 Crore! Delhi HC quashes Income Tax Addition Ultra Vires Grounds for Reopening Assessment by AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Turnover-Discrepancy-Delhi-HC-Income-Tax-Ultra-Vires-Reopening-Assessment-AO-taxscan.jpg "Turnover Discrepancy of Rs.86 Crore! Delhi HC quashes Income Tax Addition Ultra Vires Grounds for Reopening Assessment by AO [Read Order]")
Capital Invested to Purchase Shares of 'Infrastructure Facility' before June 1998 cannot be included in Total Income: Telangana HC [Read Order]
The Telangana High Court in a recent case has held that the capital invested to purchase shares of 'infrastructure facility' before June 1998 cannot be included in total income. The Court viewed that...
Challenge against Genuineness of Transaction not raised before ITAT does not survive before HC: Karnataka HC [Read Order]
In a recent ruling, the Karnataka High Court dismissed a revenue appeal upholding the Income Tax Appellate Tribunal ( ITAT ) decision, which did not accept the revenue's argument about the...
![Challenge against Genuineness of Transaction not raised before ITAT does not survive before HC: Karnataka HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Karnataka-Income-tax-Genuine-transaction-Karnataka-High-Court-Genuineness-of-Transaction-ITAT-appeal-taxscan.jpeg "Challenge against Genuineness of Transaction not raised before ITAT does not survive before HC: Karnataka HC [Read Order]")
Delhi HC upholds ITAT decision, invalidates Assessment Order for Exceeding Statutory Timelines [Read Order]
In a recent ruling the Delhi High Court, upheld the Income Tax Appellate Tribunal's ( ITAT ) decision to invalidate an assessment order for exceeding the statutory timelines under the Income Tax Act,...
![Delhi HC upholds ITAT decision, invalidates Assessment Order for Exceeding Statutory Timelines [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Delhi-High-Court-Income-Tax-Assessment-Order-Statutory-Timelines-Delhi-HC-Upholds-ITAT-1.jpg "Delhi HC upholds ITAT decision, invalidates Assessment Order for Exceeding Statutory Timelines [Read Order]")
Delhi HC upholds CIT's Decision to Revise Assessment Due to AO's Failure to Verify Dishonored Cheques [Read Order]
In the recent ruling, the Delhi High Court ,upheld the decision of the Principal Commissioner of Income Tax ( CIT ) to revise the assessment due to the Assessing Officer's ( AO ) failure to verify...
![Delhi HC upholds CITs Decision to Revise Assessment Due to AOs Failure to Verify Dishonored Cheques [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-Delhi-High-Court-AO-failure-cheques-case-TAXSCAN.jpeg "Delhi HC upholds CITs Decision to Revise Assessment Due to AOs Failure to Verify Dishonored Cheques [Read Order]")
Correctness of Factual Findings in Order passed u/s 153 of Income Tax Act was Re examined by ITAT: Calcutta HC Dismisses Appeal [Read Order]
In a recent case, the Calcutta High Court dismissed the appeal on finding that the Income Tax Appellate Tribunal ( ITAT ) correctly re-examined the correctness of factual findings in order...
![Correctness of Factual Findings in Order passed u/s 153 of Income Tax Act was Re examined by ITAT: Calcutta HC Dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Calcutta-High-Court-ITAT-Income-Tax-Income-Tax-Appellate-Tribunal-section-153-Income-Tax-Act-taxscan.jpg "Correctness of Factual Findings in Order passed u/s 153 of Income Tax Act was Re examined by ITAT: Calcutta HC Dismisses Appeal [Read Order]")
ITAT invalidates Reassessment under Income Tax Act as Alleged Transaction already shown on Return Filed: Calcutta HC dismisses Appeal [Read Order]
In a recent case, the Calcutta High Court dismissed the appeal on finding that the Income Tax Appellate Tribunal ( ITAT ) invalidated the reassessment order passed under Income Tax Act, 1961 as...
![ITAT invalidates Reassessment under Income Tax Act as Alleged Transaction already shown on Return Filed: Calcutta HC dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-Reassessment-Income-Tax-Act-Transaction-Return-Filed-Calcutta-HC-Appeal-taxscan.jpg "ITAT invalidates Reassessment under Income Tax Act as Alleged Transaction already shown on Return Filed: Calcutta HC dismisses Appeal [Read Order]")
Failure of CIT(A) to Properly Estimate Income and Profit: Calcutta HC sets aside ITAT Order [Read Order]
In a recent case, the Calcutta High Court set aside the order of the Income Tax Appellate Tribunal ( ITAT ) which affirms the Commissioner of Income Tax (Appeal)’s Order. It was found that the CIT(A)...
![Failure of CIT(A) to Properly Estimate Income and Profit: Calcutta HC sets aside ITAT Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-ITAT-Income-Tax-Order-Income-and-Profit-under-ITAT-CIT-income-estimation-failure-TAXSCAN.jpg "Failure of CIT(A) to Properly Estimate Income and Profit: Calcutta HC sets aside ITAT Order [Read Order]")