• Income Tax

Appeal withdrawn against rejection u/s 12AB as assessee was availing benefit u/s 10(23C)(iiiad)

22 hours ago

ITAT allows withdrawal of appeal against rejection of registration u/s 12AB as assessee had been availing benefit of blanket exemption…

  • Income Tax

When delay not mala fide, right of hearing on merit not to be rejected – ITAT

1 day ago

When explanation for delay does not smack of mala fide, right of hearing of appeal on merit ought not to…

  • Income Tax

Exemption u/s 54 allowed despite failure to deposit in Capital Gains Accounts Scheme

2 days ago

ITAT allows exemption u/s 54 allowed despite failure to deposit the amount in Capital Gains Accounts Scheme and new asset…

  • Income Tax

No addition to be made in hands of assessee solely on basis of uncorroborated loose-sheet

2 days ago

Addition cannot be made in the hands of the assessee solely on the basis of uncorroborated loose-sheet - ITAT In…

  • Income Tax

Claim of Leave Encashment exemption u/s 10(10AA)(ii) dismissed beyond Rs. 3 lakhs

2 days ago

ITAT dismisses claim of Leave Encashment exemption u/s 10(10AA)(ii) beyond Rs. 3 lakhs In a recent judgment, ITAT Ahmedabad has…

  • Income Tax

AO took a reasonable stand that 25 kg written in WhatsApp chat was 25 lakh – ITAT

3 days ago

Assessing Officer had taken a reasonable stand that 25 kg written in WhatsApp chat/text message was 25 lakh - ITAT…

  • Income Tax

Shareholders can’t be taxed for income from properties owned by the company – HC

3 days ago

Shareholders are only owners of the shares of the company therefore, income from properties earned by the company cannot be…

  • Income Tax

Jurisdictional error in reassessment approval can’t be shielded by the law of limitation

3 days ago

When approval for reassessment was granted by unauthorised authority, such jurisdictional error cannot be shielded by the law of limitation…

  • Income Tax

ITAT ought to remanded whole matter of bogus purchases instead of profit determination

3 days ago

ITAT on presumption of bogus purchases ought to have remanded case to AO to reconsider the whole matter instead of…

  • Income Tax

Where proceedings u/s 153C barred by limitation, AO can’t invoke section 148 & 148A

4 days ago

Where proceedings u/s 153C are barred by limitation, AO can not reopen the case invoking section 148 and 148A of…