Judgement

Tribunal holds journal entry share purchase does not attract penalty under Section 271D.

ITAT Chennai Holds: No Penalty u/s 271D Where Share Purchase Liability Exists Only as Journal Entry

Articles

A complete guide on the taxation of minor children's income, clubbing provisions under Section 64(1A), exceptions, exemptions and more.

Child Actor, Influencer or Investor? Know How Minor's Income is Taxed

ITAT restored a taxpayer’s appeal for fresh adjudication, holding that CIT(A) cannot dismiss an appeal ex parte without deciding the issues on merits through a reasoned order.

Senior Citizen Faced Rs. 22.18 Lakh Cash Deposit Addition; ITAT Condoned 667-Day Delay and Granted Fresh Appeal Hearing

ITAT deletes Section 14A disallowance, holding no exempt income was earned during year.

Rs. 48.37 Crore Investments Triggered Rs. 43.42 Lakh Section 14A Disallowance; ITAT Deletes Addition Due to Absence of Exempt Income

ITAT deletes Section 68 addition after finding no evidence of accommodation entries or round-tripping.

Company Faced Rs. 23.98 Crore Section 68 Addition Over Preference Share Capital; ITAT Deletes Addition After Revenue Failed to Prove Round-Tripping

ITAT remanded an ex parte CIT(A) order for fresh adjudication, holding that appeals must be decided on merits and not dismissed solely for non-appearance.

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ITAT Chennai Holds: No Penalty u/s 271D Where Share Purchase Liability Exists Only as Journal Entry

Child Actor, Influencer or Investor? Know How Minor's Income is Taxed

Senior Citizen Faced Rs. 22.18 Lakh Cash Deposit Addition; ITAT Condoned 667-Day Delay and Granted Fresh Appeal Hearing

Rs. 48.37 Crore Investments Triggered Rs. 43.42 Lakh Section 14A Disallowance; ITAT Deletes Addition Due to Absence of Exempt Income

Company Faced Rs. 23.98 Crore Section 68 Addition Over Preference Share Capital; ITAT Deletes Addition After Revenue Failed to Prove Round-Tripping

Businessman Lost Income Tax Appeal Over Non-Compliance Notices; ITAT Restores Matter for Fresh Adjudication