Judgement

The Tribunal reviewed the statements and found that the purchases and sales were recorded before the survey, but the stock difference was due to discrepancies in the stock maintained

ITAT Rejects Revenue's Appeal on Excess Stock, Upholds Tax Addition under Section 69A

Tribunal remands Senghani and Associates’ case to CIT(A) after income addition of Rs 1 crore for Form 26AS mismatch, citing lack of proper hearing opportunity.

ITAT Orders Fresh Hearing After CIT(A) Upholds Addition Without Assessee’s Representation

Court rules that reassessment proceedings u/s. 147/148 of the Income Tax Act must be conducted by Faceless Assessing Officers under the 2022 Faceless Scheme; notice by Jurisdictional Officer invalid

HC Quashes Reassessment Notice Issued by Jurisdictional Officer Instead of Faceless Officer

The ITAT sent the case back to Assessing Officer for fresh verification of the assessee’s Rs. 2.47 crore capital investment after new evidence was produced.

ITAT Remands Case on Unexplained Capital Introduction under Section 69A for Fresh Assessment

Court Follows Earlier Rulings; Faceless Assessment Scheme Must Govern Reassessment Even in Search-Linked Cases

HC Quashes Reassessment in Search Case: Notice Issued by Jurisdictional AO Held Invalid

Regarding the Subscription fee, the Tribunal cited the decision of the Delhi HC which held that if an agreement creates interest or the right to use a copyrighted article, the payments for such use do not form a royalty.

Explore Our Blogs

Stay updated with the latest insights, tips, and industry trends from our experts

ITAT Rejects Revenue's Appeal on Excess Stock, Upholds Tax Addition under Section 69A

ITAT Orders Fresh Hearing After CIT(A) Upholds Addition Without Assessee’s Representation

HC Quashes Reassessment Notice Issued by Jurisdictional Officer Instead of Faceless Officer

ITAT Remands Case on Unexplained Capital Introduction under Section 69A for Fresh Assessment

HC Quashes Reassessment in Search Case: Notice Issued by Jurisdictional AO Held Invalid

Administration Fee and Subscription Fee are Not Royalty Under Income Tax: ITAT