Section 271B

Recent Posts

• An addition of ₹ 10.33 Cr as commission income in the hands of the Auto Rickshaw Driver – ITAT Deleted addition with direction that the real culprits should be investigated
• Allotment date & not registration date is relevant for determining the holding period for capital Assets as Long-Term or Short-Term
• When Luxury Meets Tax: CBDT’s New TCS Rules for Watches, Home Theatres — and Even Horses!
• Rejection of Books of Accounts: The profit estimation cannot be arbitrary or without any basis.
• CBDT Circular 05/2025 for Waiver of Interest levy in specified cases
• Compensation received for removing the nuisance should be treated as a capital receipt and hence not taxable: ITAT Mumbai
• Unaccounted amount of Rs 103 cr credited to the account of a rickshaw driver: ITAT deleted the addition
• Whether retraction of statement, without discrediting corroborative evidence, is insufficient to nullify additions under Sections 69A and 69C?
• GST: No adverse inference can be drawn against the purchasing dealer merely because the supplier’s registration was cancelled later
• Interest received in respect of delayed payment of compensation to be treated as accruals to the principal compensation amount