Judgement

ITAT Delhi quashed the Rs 2.67 crore penalty, holding that the AO’s failure to clearly specify the penalty charge in the Section 271(1)(c) notice rendered the proceedings invalid.

Rs 2.67 Crore Income Tax Penalty Quashed by ITAT as AO Failed to Clearly Specify Whether Case Involved Concealment or Inaccurate Particulars

The Punjab and Haryana High Court has declared Section 147A of the Income tax Act, 1961 unconstitutional. 


High Court Holds Retrospective Section 147A of Income Tax Act As Unconstitutional

ITAT deleted the Rs 15.72 lakh addition, holding that the Revenue failed to produce sufficient incriminating material proving an undisclosed cash payment to the Bhutani Group.

Mere Assumptions Cannot Sustain Addition: Rs 15.72 Lakh Cash Addition Deleted After ITAT Finds No Incriminating Evidence

The High Court Holds there was reasonable basis to initiate reassessment despite assessee’s explanation.

High Court Upholds Reassessment Proceedings And Allows Assessee to Raise Limitation Plea

News

Two Income Tax officials and two others were arrested for allegedly conducting a fake raid at a Mumbai firm and demanding Rs 1 crore.

Fake IT Raid at Mumbai Firm: 2 Income Tax Officials Among 4 Arrested, Rs 1 Crore Demand

ITAT allows taxpayer to avail the beneficial 10% tax rate under the India-Ireland DTAA on interest received from income-tax refunds for AYs 2018-19 and 2019-20, along with TDS credit relief.

Explore Our Blogs

Rs 2.67 Crore Income Tax Penalty Quashed by ITAT as AO Failed to Clearly Specify Whether Case Involved Concealment or Inaccurate Particulars

High Court Holds Retrospective Section 147A of Income Tax Act As Unconstitutional

Mere Assumptions Cannot Sustain Addition: Rs 15.72 Lakh Cash Addition Deleted After ITAT Finds No Incriminating Evidence

High Court Upholds Reassessment Proceedings And Allows Assessee to Raise Limitation Plea

Fake IT Raid at Mumbai Firm: 2 Income Tax Officials Among 4 Arrested, Rs 1 Crore Demand

Adobe Systems Wins 10% Tax Rate on Income Tax Refund Interest Under India-Ireland DTAA