Judgement

The ITAT Bangalore holds that failure to furnish recorded reasons despite assessee’s request invalidates reassessment proceedings


ITAT Quashes Reassessment for Non-Supply of Recorded Reasons for Reopening

The ITAT Mumbai held mere general allegations against lender cannot justify Section 68 Addition

ITAT Holds Loan Genuineness Supported by Documents and Banking Repayment

News

Former SBI branch manager Ajay Kumar Gaur has been sentenced to four years in prison and fined Rs 90,000 in a bribery case involving a Rs 10 lakh personal loan.

Former SBI Branch Manager Convicted in Bribery Case, Sentenced to 4 Years in Jail

The ITAT Mumbai held reassessment for AY 2019-20 cannot be sustained where Section 148 notice is issued beyond Three Years 



ITAT Holds Notice Under Section 148 As Time-Barred for Escaped Income Below Rs. 50 Lakh

The ITAT Kolkata Holds Share subscribers’ identity, creditworthiness and genuineness established through documentary evidence.


 ITAT Holds No Section 14A Disallowance Without Exempt Income

ITAT remands a Rs 9.28 crore tax dispute to CIT(A) for fresh consideration of property capital gains, acquisition cost and Section 54 deduction claims.

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ITAT Quashes Reassessment for Non-Supply of Recorded Reasons for Reopening

ITAT Holds Loan Genuineness Supported by Documents and Banking Repayment

Former SBI Branch Manager Convicted in Bribery Case, Sentenced to 4 Years in Jail

ITAT Holds Notice Under Section 148 As Time-Barred for Escaped Income Below Rs. 50 Lakh

ITAT Holds No Section 14A Disallowance Without Exempt Income

ITAT Sends Rs 28 Crore Tax Addition Back to CIT(A), Directs Fresh Examination of Property Capital Gains and Section 54 Claim