Judgement

ITAT deleted the Rs 15.72 lakh addition, holding that the Revenue failed to produce sufficient incriminating material proving an undisclosed cash payment to the Bhutani Group.

Mere Assumptions Cannot Sustain Addition: Rs 15.72 Lakh Cash Addition Deleted After ITAT Finds No Incriminating Evidence

The High Court Holds there was reasonable basis to initiate reassessment despite assessee’s explanation.

High Court Upholds Reassessment Proceedings And Allows Assessee to Raise Limitation Plea

News

Two Income Tax officials and two others were arrested for allegedly conducting a fake raid at a Mumbai firm and demanding Rs 1 crore.

Fake IT Raid at Mumbai Firm: 2 Income Tax Officials Among 4 Arrested, Rs 1 Crore Demand

ITAT allows taxpayer to avail the beneficial 10% tax rate under the India-Ireland DTAA on interest received from income-tax refunds for AYs 2018-19 and 2019-20, along with TDS credit relief.

Adobe Systems Wins 10% Tax Rate on Income Tax Refund Interest Under India-Ireland DTAA

More than 50,000 Swiggy delivery partners have filed ITRs through its app, collectively claiming around Rs 6.5 crore in tax refunds.

Over 50,000 Swiggy Delivery Partners Use App to File ITRs, Claim Rs 6.5 Crore Refund

ITAT deleted the Rs 21.81 lakh addition, holding that spelling errors and missing PAN or email details in the purchaser’s confirmation could not by themselves establish a bogus transaction.

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Mere Assumptions Cannot Sustain Addition: Rs 15.72 Lakh Cash Addition Deleted After ITAT Finds No Incriminating Evidence

High Court Upholds Reassessment Proceedings And Allows Assessee to Raise Limitation Plea

Fake IT Raid at Mumbai Firm: 2 Income Tax Officials Among 4 Arrested, Rs 1 Crore Demand

Adobe Systems Wins 10% Tax Rate on Income Tax Refund Interest Under India-Ireland DTAA

Over 50,000 Swiggy Delivery Partners Use App to File ITRs, Claim Rs 6.5 Crore Refund

Merely Absence of PAN or Email Address in Sale Confirmation Cannot Prove Transaction Bogus, Holds ITAT