Judgement

The Delhi Income Tax Appellate Tribunal (ITAT) has quashed reassessment proceedings initiated against Auvjan Holidays Private Limited for Assessment Year 2015-16, holding that the notice issued under Section 148 beyond the prescribed limitation period was invalid.

ITAT Quashes Reassessment Proceedings And Deletes Rs 94.77 Lakh Addition as Notice Issued Beyond Limitation

The ITAT has held that an addition towards alleged on-money payment for purchase of a flat cannot be sustained where the Revenue fails to establish actual cash payment through independent evidence.

ITAT Deletes Rs 24.70 Lakh Addition for Alleged On-Money Payment as AO Failed to Prove Cash Transaction

Income Tax Appellate Tribunal (ITAT), Mumbai, has held that an addition towards alleged on-money payment for purchase of a flat cannot be sustained where the Revenue fails to establish actual cash payment through independent evidence.

The ITAT Mumbai held that a bona fide excess depreciation claim arising from subsequent appellate adjustments cannot attract penalty under Section 271(1)(c).

ITAT Holds Section 271(1)(c) Penalty Not Leviable for Consequential Depreciation Disallowance

ITAT Mumbai held that TUV SUD's audit and certification service income is not taxable as FTS and dismissed the Revenue's appeal.

ITAT: German Company’s Audit Service Income Not Taxable as FTS in India

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Tax experts advise taxpayers to wait until mid-June before filing ITR for FY 2025-26 to ensure AIS, Form 26AS, Form 16, and TDS details are fully updated and avoid mismatches or refund delays.

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ITAT Quashes Reassessment Proceedings And Deletes Rs 94.77 Lakh Addition as Notice Issued Beyond Limitation

ITAT Deletes Rs 24.70 Lakh Addition for Alleged On-Money Payment as AO Failed to Prove Cash Transaction

ITAT Holds Section 271(1)(c) Penalty Not Leviable for Consequential Depreciation Disallowance

ITAT: German Company’s Audit Service Income Not Taxable as FTS in India

ITR: 1 (SAHAJ) Simplified: Everything You Need to Know Before Filing

ITR Filing FY 2025-26: Why Taxpayers Should Wait Before Filing Returns