Judgement

The ITAT Delhi quashes multiple reassessment proceedings where alleged escaped income lacked the statutory asset representation requirement.

ITAT Quashes Multiple Reassessments Over Absence of Escaped Income “Asset”

News

Income Tax Department identifies common SFT filing errors affecting AIS accuracy and taxpayer convenience.

Income Tax Department Flags Common Errors in SFT Filings by Banks

The penalty imposed under Section 270A was held void as the proceedings were initiated without specifying precise sub-clause or specific limb for Misreporting or Under-reporting.

ITAT Deletes Income Tax penalty against incorrect HRA Exemption

ITAT Ahmedabad held that books cannot be rejected on mere suspicion, granting Shakti Polyweave Private Limited full relief for AY 2018-19 by deleting all additions.

Books Can Not Be Rejected on Surmise: ITAT Ahmedabad Grants Complete Relief to Shakti Polyweave

The ITAT Delhi allows obsolete software write-off and deletes multiple ad-hoc business expenditure disallowances.

ITAT Grants Major Relief on Royalty, Warranty and Software Disallowances

Cash deposits transferred to principal companies cannot be taxed as unexplained income under Section 69A.

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ITAT Quashes Multiple Reassessments Over Absence of Escaped Income “Asset”

Income Tax Department Flags Common Errors in SFT Filings by Banks

ITAT Deletes Income Tax penalty against incorrect HRA Exemption

Books Can Not Be Rejected on Surmise: ITAT Ahmedabad Grants Complete Relief to Shakti Polyweave

ITAT Grants Major Relief on Royalty, Warranty and Software Disallowances

ITAT Delhi Grants Relief to Licensed Money Transfer Collection Agent