Judgement

ITAT Upholds 8% Profit Estimation on Bank Credits Where Assessee Failed to Substantiate Business Receipts

Articles

Received a Section 139(9) notice after filing your ITR? Understand why it was issued, how to fix the defect, and how to avoid your return being treated as invalid.

Section 139(9) Defective Return Notice: Complete Guide to Fixing Your ITR

A practical guide to claiming depreciation on business assets under Section 32 of the Income Tax Act, 1961.

Section 32 of the Income Tax Act, 1961: Depreciation on Business Assets

The ITAT remanded the case to the AO after holding that the CIT(A) violated Rule 46A by admitting additional evidence without giving the AO an opportunity to verify it.

ITAT Remands Rs 1.67 Crore Addition Case After CIT(A) Admits Additional Evidence Without AO Verification

Notifications

India Orders Provisional Assessment of Chinese Insoluble Sulphur Imports Amid Anti-Absorption Review

The ITAT restricts the transport agent’s estimated income addition to 3% of bank credits, holding that only the profit element can be taxed instead of the entire freight receipts.

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ITAT Upholds 8% Profit Estimation on Bank Credits Where Assessee Failed to Substantiate Business Receipts

Section 139(9) Defective Return Notice: Complete Guide to Fixing Your ITR

Section 32 of the Income Tax Act, 1961: Depreciation on Business Assets

ITAT Remands Rs 1.67 Crore Addition Case After CIT(A) Admits Additional Evidence Without AO Verification

India Orders Provisional Assessment of Chinese Insoluble Sulphur Imports Amid Anti-Absorption Review

ITAT Reduces 10% Income Estimate to 3% for Transport Agent, Holds Only Profit Element Taxable