Judgement

The ITAT says to initiate reassessment proceedings, a taxpayer must be granted a minimum of 7 days' time limit to respond to a Section 148(b) notice.

ITAT Holds A Taxpayer Must Be Granted Minimum 7-Day Time Limit to Respond A Section 148(b) Notice

The Income Tax Appellate Tribunal (ITAT) Bangalore has deleted a penalty of Rs 11.02 lakh imposed under Section 270A holding that the AO failed to specify the particular clause of "misreporting of income".

ITAT Deletes Section 270A Penalty as AO Failed to Specify Charge of Misreporting under Income Tax Act

The Income Tax Appellate Tribunal (ITAT), Pune, has deleted an addition of Rs 10 lakh made on account of cash payment towards the purchase of a residential flat.

ITAT Deletes Rs 10 Lakh Addition as Revenue Fails to Prove Alleged Cash Payment for Flat Purchase 

ITAT held that an Assessing Officer cannot estimate profits without first rejecting the assessee's books of account and deleted the entire addition.

ITAT Deletes Estimated Income Addition as AO Failed to Reject Books of Account

The ITAT quashed a Rs 6.77 lakh penalty after finding that the taxpayer was not clearly informed of the actual charge under Section 270A.

ITAT Quashes Rs 6.77 Lakh Penalty Over Defective Section 270A Notice

The Income Tax Appellate Tribunal (ITAT), Bangalore, has held that the entire bank deposits cannot be treated as unexplained money only because the assessee failed to participate in the assessment proceedings.

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ITAT Holds A Taxpayer Must Be Granted Minimum 7-Day Time Limit to Respond A Section 148(b) Notice

ITAT Deletes Section 270A Penalty as AO Failed to Specify Charge of Misreporting under Income Tax Act

ITAT Deletes Rs 10 Lakh Addition as Revenue Fails to Prove Alleged Cash Payment for Flat Purchase

ITAT Deletes Estimated Income Addition as AO Failed to Reject Books of Account

ITAT Quashes Rs 6.77 Lakh Penalty Over Defective Section 270A Notice

ITAT Holds Business Turnover Cannot Be Treated as Unexplained Money Without Proper Verification