Judgement

ITAT condoned a 1004-day delay and ordered fresh adjudication after finding ex parte tax proceedings violated principles of natural justice, while dismissing one appeal and partly allowing the other.

1004 Day Delay Condoned: ITAT Kolkata Criticises Lack of Hearing, Remands Case for Fresh Consideration

Exemption under Section 11(2) was denied due to a vague purpose (“Social”) in Form 10. The ITAT required a clear purpose but remanded the case to verify actual utilization.

Vague Purpose in Income Tax Form 10 Leads to Section 11(2) Denial; ITAT Remands for Verification of Fund Utilization

The Delhi High Court noted that in today's digital era, computer-generated notices cannot have handwritten signatures, and Section 282A(2) does not require a signature.

Name and Designation on Income Tax Notice Sufficient for Authentication, Signature Not Mandatory: Delhi HC

ITAT granted full relief, holding that demonetisation cash deposits cannot be treated as unexplained income when they are properly recorded in the books and linked to genuine business receipts.

Cash Deposits from Business Sales Cannot Be Taxed as Unexplained: ITAT

A small delay made a big difference. After the company replied on June 8, 2022, the tax office had only 23 days to send the final notice, but they sent it almost a month late. Because of this delay, they lost their legal right, and the tribunal cancelled the reassessment.

Income Tax Reassessment Cancelled Due to Late Notice

News

Credit card rewards, cashback, and air miles are usually treated as discounts, not taxable income. However, if converted to cash or linked to business transactions, they may become taxable.

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1004 Day Delay Condoned: ITAT Kolkata Criticises Lack of Hearing, Remands Case for Fresh Consideration

Vague Purpose in Income Tax Form 10 Leads to Section 11(2) Denial; ITAT Remands for Verification of Fund Utilization

Name and Designation on Income Tax Notice Sufficient for Authentication, Signature Not Mandatory: Delhi HC

Cash Deposits from Business Sales Cannot Be Taxed as Unexplained: ITAT

Income Tax Reassessment Cancelled Due to Late Notice

Are credit rewards, cashback, and Air miles taxable in India?