Day: October 24, 2025

Under presumptive taxation u/s 44AD, assessee could not have maintained sales bills and bank statement, bank balance and gross receipt in terms of explanation (f) of section 139(9) of the Act were sufficient. In a recent judgment, ITAT Bangalore has held that when provisions of presumptive taxation u/s …

Amalgamation order does not take away right of income tax department to proceed against the transferee company, In a recent judgment, Hon’ble Calcutta High Court has held that simply because the amalgamation order has been passed, the same does not take away right of the income tax department …

Addition u/s 69A for solely cash deposits in bank account deleted as it was covered by income declared u/s 44AD of the Act In a recent judgment, ITAT Rajkot held that AO erred in making addition under section 69A of the Income Tax Act, 1961 solely on the …

ITAT quashed revision order u/s 263 passed without providing information to assessee and not considering submissions & evidences furnished. In a recent judgment, ITAT Raipur has quashed the revision order passed u/s 263 holding that the PCIT grossly erred in not providing the information or documents used against …