Mere statement recorded during search cannot be treated as incriminating document for making addition in a search case
Mere statement recorded during search cannot be treated as incriminating document for making addition in a search case Pursuant…
Income Tax
Bogus Purchase Addition: Assessee gave no input & so there was no way to determine a gross profit – Entire amount deemed unexplained
Bogus Purchase Addition: Assessee gave no input & so there was no way to determine a gross profit – Entire…
Selective addition u/s. 69B for cash deposited during demonitization period unjustified: ITAT
Selective addition u/s. 69B for cash deposited during demonitization period unjustified: ITAT ITAT Ahmedabad has recently held that selective…
Non-Cooperation Has Its Price: Bombay High Court’s upheld the disallowance of entire purchase amount as against GP Ratio in a Bogus Purchase Case
Non-Cooperation Has Its Price: Bombay High Court’s upheld the disallowance of entire purchase amount as against GP Ratio in a…
ITAT Delhi Quashes Addition Based on ‘Dumb Documents’ in Section 153C Proceedings
ITAT Delhi Quashes Addition Based on ‘Dumb Documents’ in Section 153C Proceedings In a significant ruling, the Delhi Bench…
TDS on Payment to Partners – Applicable from the FY 2025-26
TDS on Payment to Partners – Applicable from the FY 2025-26 [Query 1] Is there any rule regarding capital…
Unabsorbed depreciation of one year becomes the part of depreciation of next year
Unabsorbed depreciation of one year becomes the part of depreciation of next year Unabsorbed depreciation of a year becomes…
Re-evaluation of the former records without new tangible material: Shahrukh Khan win Reassessment Battle
Re-evaluation of the former records without new tangible material: Shahrukh Khan win Reassessment Battle Here is a Triumph in…
Beneficial amendments should be applied retrospectively unless they impose a burden: ITAT Mumbai
Beneficial amendments should be applied retrospectively unless they impose a burden: ITAT Mumbai Here is another case before Mumbai ITAT…
Reassessment Quashed Due to Section 148 Notice Sent to Incorrect Email ID
Reassessment Quashed Due to Section 148 Notice Sent to Incorrect Email ID In the case of Nitin Jain vs…
ITAT Deleted the Disallowance as Payee Declared Income and Paid Taxes despite Absence of Form 26A
ITAT Deleted the Disallowance as Payee Declared Income and Paid Taxes despite Absence of Form 26A Here is an…
Whether “leaving India for the purpose of employment” includes person who left India for search of Employment?
Whether “leaving India for the purpose of employment” includes person who left India for search of Employment? Meaning of…
Bombay HC quashed Assessment order u/s 143(3) for not allowing the personal hearing in spite of specific request by assessee:
Bombay HC quashed Assessment order u/s 143(3) for not allowing the personal hearing in spite of specific request by assessee:…
Delhi HC on Section 153C: Statutory scheme does not mandate or envisage the discovery of a connect or interrelationship between the searched and the non-searched entity
Delhi HC on Section 153C: Statutory scheme does not mandate or envisage the discovery of a connect or interrelationship between…
Invalid notice leads to an invalid Assessment even if the correct AO passes the assessment order.
Invalid notice leads to an invalid Assessment even if the correct AO passes the assessment order. The Kolkata Tribunal in a recent…
Condonation of inordinate delay -Not without sufficient Cause: ITAT
Condonation of inordinate delay -Not without sufficient Cause: ITAT Here is an interesting case before ITAT Hyderabad in Papaiah Pulipati…
Harvesting the Loss as a Tool of Tax Planning
Harvesting the Loss as a Tool of Tax Planning The Indian stock market has been experiencing a downturn, leading…
Reopening can be done based on audit opinion even if query was raised during assessment proceedings: Bombay HC
Reopening can be done based on audit opinion even if query was raised during assessment proceedings: Bombay HC Bombay…
