Reopening order quashed as it was on the erroneous assumption that no return of income was filed – whereas the return was duly on record.
ITAT quashed the entire re-assessment proceedings holding it to be barred by limitation as the escaped income was less than 50 Lakhs and the reassessment was initiated after the expiry of 3 years.
DTAA Rate vs. Section 206AA: Where a beneficial treaty rate exists, that rate must apply-even if the non-resident does not have a PAN
Excess stock found during survey is taxable as business income and not as unexplained income under sections 69/69B: Jaipur ITAT
An assessment order making additions on matters beyond the scope and issues set out in the show cause notice is non est in law.
When the original reason fails, the AO cannot make any other addition in a reassessment proceeding: ITAT
Addition done during assessment is invalid if it is done without waiting for the DVO Report: ITAT Ahmedabad
Purchase from Government – No addition under Section 56(2)(x) for purchase below stamp duty valuation: ITAT
5 Years vs. 6 Years Controversy for utilisation of accumulated amount for trust: ITAT Held that the CPC cannot apply statutory amendments retrospectively
Income Tax Department Sends SMS & Emails to 25,000 Taxpayers for Non-Disclosure of Foreign Assets: A Serious Wake-Up Call for AY 2025–26
It is incorrect to deny ITC to recipient/buyer for genuine purchase , for default in compliance to show sales in GSTR 1 by supplier
