Category: Income Tax
Cash deposit in bank account cannot be shifted from a live person to a deceased assessee just because he was joint holder – ITAT In a recent judgment, the Hon’ble ITAT has quashed asssessment order on a deceased person holding that cash deposit in the bank account cannot …
Interest on compensation u/s 28 of Land Acquisition Act, 1894 is taxable income u/s u/s 56(2)(viii) rws 57(iv) of the Act – ITAT In a recent judgment, the Hon’ble ITAT has held that Interest received u/s 28 of Land Acquisition Act, 1894 is taxable income u/s u/s 56(2)(viii) …
ITAT partly confirms addition of site expenses as unexplained expenditure for being not accounted for in the books of accounts in the expense ledger In a recent judgment, the ITAT has confirmed the addition of unexplained expenditure u/s 69C towards site expenses not accounted for in the books …
Revenue not to take benefit of mistake committed by assessee. Gift wrongly executed through sale deed can not be taxed as capital gain In a recent judgment, the Hon’ble ITAT has held that revenue should not take the benefit of the mistake committed by the assessee. Gift to …
High Court grants bail to Income Tax Officer accused of demanding bribe of Rs. 25000/- In a recent judgment, the Hon’ble Allahabad High Court has granted bail to Income Tax Officer accused of demanding bribe of Rs. 25000/- ABCAUS Case Law Citation:ABCAUS 3965 (2024) (04) HC In the …
Cash deposited in bank account during demonetisation period can not be taxed on technical ground when it was fully exempt u/s 10(26), assessee being resident of Arunachal Pradesh In a recent judgment, ITAT has quashed the addition made on technical ground for cash deposited in bank during the …
ITAT deleted addition made on the presumption that there cannot be loss in restaurant business. In a recent judgment, ITAT deleted addition made on the presumption that there cannot be loss in restaurant business ABCAUS Case Law Citation:ABCAUS 3963 (2024) (04) ITAT In the instant case, the assessee …
ITAT upheld taxing rent of plot of land as income from other sources in the absence of proof of any structure thereon In a recent judgment, ITAT upheld taxing of rent of plot of land as income from other sources as assessee could not prove that there existed …
Application invited for special public prosecutors to represent the Income Tax Department in North-Eastern Region. The Income Tax Department, North Eastern Region has invited applications from eligible advocates for empanelment as Special Public Prosecutors to represent the Income Tax Department before the Courts of Session and its subordinate …
Notice u/s 148 quashed as time period to issue notice u/s 143(2) for conducting assessment u/s 143(3) had not expired. In a recent judgment, Hon’ble Bangalore ITAT has quashed notice u/s 148 as the time period to issue notice u/s 143(2) for conducting assessment u/s 143(3) had not …
