Articles

ITAT Ahmedabad gave partial relief in NRI Rahul Kumar Patel’s case for AY 2019-20 involving unexplained bank deposits, deleting the small ICICI addition and sending the HDFC matter back to AO for verification.

ITAT Ahmedabad held that NRE account deposits from foreign earnings cannot be taxed as unexplained income

Judgement

Supreme Court upholds the quashing of a reassessment based solely on third-party information without independent verification.

Income Tax Reopening Based on External Input Set Aside; SC Refuses Interference

SC reinforces strict adherence to limitation in reassessment proceedings under Income Tax Act.

SC Dismisses Revenue SLP in Time-Barred Reopening Case.

SC Dismisses Revenue SLP in Time-Barred Reopening Case

Supreme Court upholds quashing of reassessment, reinforces clean slate principle under IBC resolution framework.

SC Dismisses Revenue SLP in CIRP Case; Income Tax Reassessment Invalid

Understand in detail what income tax notices mean, why they are issued, and how to choose the correct ITR form.

Income Tax Notice Guide: Meaning, Reasons and ITR Selection

The ITAT deleted a Rs. 2,696,730 addition under Section 69A, ruling that Sanhati Infocom’s demonetisation-era cash deposits were legitimate business turnover substantiated by consistent sales records and bank statements.

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ITAT Ahmedabad held that NRE account deposits from foreign earnings cannot be taxed as unexplained income

Income Tax Reopening Based on External Input Set Aside; SC Refuses Interference

SC Dismisses Revenue SLP in Time-Barred Reopening Case

SC Dismisses Revenue SLP in CIRP Case; Income Tax Reassessment Invalid

Income Tax Notice Guide: Meaning, Reasons and ITR Selection

Demonetisation Cash Deposits Accepted as Regular Business Income by ITAT