Judgement

Supreme Court upholds quashing of reassessment, reinforces clean slate principle under IBC resolution framework.

SC Dismisses Revenue SLP in CIRP Case; Income Tax Reassessment Invalid

Articles

Understand in detail what income tax notices mean, why they are issued, and how to choose the correct ITR form.

Income Tax Notice Guide: Meaning, Reasons and ITR Selection

The ITAT deleted a Rs. 2,696,730 addition under Section 69A, ruling that Sanhati Infocom’s demonetisation-era cash deposits were legitimate business turnover substantiated by consistent sales records and bank statements.

Demonetisation Cash Deposits Accepted as Regular Business Income by ITAT

Delay excused; Tribunal restores the unexplained investment issue for reconsideration on merits by the AO.

Section 69 Addition Remanded After ITAT Condones Filing Delay

Tribunal rules a penalty cannot be imposed merely for rejected claims made on disclosed facts.

ITAT Grants Relief; Unsustainable Claims Do Not Attract Penalty

The Supreme Court dismisses Revenue SLP, affirms the quashing of reassessment for lack of PE evidence.

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SC Dismisses Revenue SLP in CIRP Case; Income Tax Reassessment Invalid

Income Tax Notice Guide: Meaning, Reasons and ITR Selection

Demonetisation Cash Deposits Accepted as Regular Business Income by ITAT

Section 69 Addition Remanded After ITAT Condones Filing Delay

ITAT Grants Relief; Unsustainable Claims Do Not Attract Penalty

SC Upholds Delhi HC; Reopening Against GE Entities Held Invalid