Judgement

The ITAT, Ahmedabad, has recently upheld the decision of the Principal Commissioner of Income Tax (PCIT) to revise the assessment order in a Foreign exchange loss claim case.

ITAT Upholds PCIT's Revision in Foreign Exchange Loss Claim Case

Court reaffirms that bulk approvals without application of mind breach legislative intent; no substantial question of law arises under Section 260A

Delhi HC: Mechanical Bulk Approvals Under Section 153D Invalid; ITAT Order Upheld

The ITAT Ahmedabad, gave relief to an appellant by deleting a penalty under Section 270A(9) of the Income Tax Act, which was levied by the Assessing Officer and the same was upheld by the CIT(A).

ITAT Condones Delay and Deletes Penalty Levied Under Section 270A(9) of Income Tax Act

The ITAT Ahmedabad observed a consistent pattern of unaccounted donations and salary recoveries, upholding the Revenue’s appeal in part.

ITAT Ahmedabad Partly Upholds Revenue’s Appeal; Extrapolation of Unaccounted Income Found Justified

Articles

As per a media report, the income tax officials have received documents during the raid that suggest that the company was involved in distributing large amounts of money, gold, silver coins, and expensive gifts to many senior officials in Bihar.

Bihar: Company Under Investigation for Allegedly Bribing Bihar Officials 

Company Under Investigation for Allegedly Bribing Bihar Officials

The ITAT dismissed the appeals filed by the revenue and quashed the reassessment proceedings for A.Y. 2015-16 and the order of CIT(A) for A.Y. 2014-15.

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ITAT Upholds PCIT's Revision in Foreign Exchange Loss Claim Case

Delhi HC: Mechanical Bulk Approvals Under Section 153D Invalid; ITAT Order Upheld

ITAT Condones Delay and Deletes Penalty Levied Under Section 270A(9) of Income Tax Act

ITAT Ahmedabad Partly Upholds Revenue’s Appeal; Extrapolation of Unaccounted Income Found Justified

Company Under Investigation for Allegedly Bribing Bihar Officials

ITAT Quashes Time-Barred Notice and Upholds CIT(A)'s Approach of Taxing Only Profit on Purchases