Day: August 21, 2024

Income Tax Proceedings based on diaries, loose sheets without corroborative evidence held contrary to the law declared by the Hon’ble Apex Court  In a recent judgment Hon’ble Supreme Court has dismissed the SLP of the Income Tax Department against the judgment of the Hon’ble Karnataka High Court which …

No under reporting of income if income assessed u/s 143(3) is same as per return processed u/s 143(1)(a) – ITAT In a recent judgment, the ITAT Delhi has held that there is no under reporting of income u/s 270A as income assessed u/s 143(3) and income determined in …