Judgement

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.

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

Articles

Taxpayers can pay income tax offline through the Pay at Bank Counter facility by generating a CRN challan on the e-filing portal and submitting payment at authorised banks via cash, cheque, or draft.

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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

How to Pay Income Tax Offline Using Pay at Bank Counter Facility