Category: Income Tax

Addition u/s 68 of the Income Tax Act towards entries of cash deposit in bank statement upheld even though assessee was not maintaining any books of accounts. In a recent judgment, ITAT Delhi has upheld addition made u/s 68 of the Income Tax Act towards entries of cash …

Income tax Department carries out nation-wide verification exercise on Restaurants suppressing turnover As per Press Release issued by CBDT, Income tax Department carried out investigation relating to tax evasion pattern in Food & Beverage sector in November 2025. During the exercise, it was found that several restaurants were …

Merely because loan creditor existed in the premises wherein accommodation entry providers had their offices, AO cannot come to the conclusion that loan creditor was also an accommodation entry provider. In a recent judgment, ITAT Delhi has held that merely because loan creditor was existed in the premises …

CBDT amends Income Tax Rules 114F 114G and 114H related to reporting financial institutions and their obligations CBDT has by notification no. 19/2026 dated 05.03.2026 notified Income-tax _________ (Amendment) Rules, 2026 amending Rule 114F, Rule 114G and Rule 114H of Income Tax Rules, 1962. A Reporting Financial Institution …

AO stating that material forming basis of reopening shall be disclosed at the stage of assessment/re-assessment, indicates that the AO had prejudged the issue. In a recent judgment, Hon’ble High Court has set aside order u/s 148A(d) holding that non making available material forming basis of initiation of …

Reopening conclusion that assessee was “Non-Filer” despite assessee clearly stating in reply that he had filed ITR was non-application of mind – High Court In a recent judgment, Hon’ble High Court set aside reopening notice holding that conclusion arrived by the Assessing Officer that the assessee was a …

High Court declined to allow production of physical documents by in Faceless Assessment simply because they were voluminous In a recent judgment, Hon’ble High Court has declined Petitioner appeal to allow him production of documents by physical mode in Faceless Assessment on the ground that they were voluminous. …

The prima facie satisfaction u/s 148 cannot be stretched to a non-existing information or incorrect information – ITAT In a Recent judgment, ITAT Hyderabad has held that the prima facie information considered by the AO for issue of notice u/s 148 cannot be stretched to a non-existing information …

Merely because assessee had declared sales for only one month, the same cannot be treated as bogus on the basis of suspicion. In a recent judgment, ITAT Agra has held that merely because the assessee had declared sales for only one month during the year, the same cannot …

ITAT deleted addition as the method of accounting had been accepted by the department in earlier years and the entire exercise was revenue neutral In a recent judgment, ITAT Delhi deleted addition made as the method of accounting had been accepted by the department in earlier years and …