Judgement

ITAT reduced Rs 30,000 penalty for non-compliance with three income tax notices to Rs 10,000, considering her subsequent cooperation and absence of additions to returned income.

ITAT Cuts Section 272A(1)(d) Penalty From Rs 30,000 to Rs 10,000 for Income Tax Notice Default After Assessee Cooperates in Assessment

ITAT grants a 61-year-old cancer patient a fresh opportunity to contest her tax case, setting aside the NFAC order and restoring the matter to the Assessing Officer.

ITAT Grants Fresh Hearing to 61-Year-Old Cancer Patient, Sets Aside NFAC Order and Restores Income Tax Case to Assessing Officer

ITAT deleted a Rs 2.47 crore income tax addition after accepting a pharmaceutical retailer’s evidence linking the demonetisation-period cash deposits to business sales and documented savings.

ITAT Deletes Rs 2.47 Crore Unexplained Cash Deposits Addition, Accepts Pharma Retailer’s Cash Explanation

News

IIFL Capital Services has been fined Rs 2.05 lakh by MCX over certain abnormal and non-genuine client transactions.

IIFL Capital Services Receives MCX Penalty Order of Rs 2.05 Lakh Over Abnormal and Non-Genuine Client Trades

The ITAT Mumbai held that Section 148A(d) timeline cannot extend Section 149 limitation. 

ITAT Quashes Reassessment as Section 148 Notice Issued Beyond Limitation Period

The ITAT held that CIT(A) erred in mechanically rejecting delay explanation without adjudicating substantive tax issues.


Explore Our Blogs

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

ITAT Cuts Section 272A(1)(d) Penalty From Rs 30,000 to Rs 10,000 for Income Tax Notice Default After Assessee Cooperates in Assessment

ITAT Grants Fresh Hearing to 61-Year-Old Cancer Patient, Sets Aside NFAC Order and Restores Income Tax Case to Assessing Officer

ITAT Deletes Rs 2.47 Crore Unexplained Cash Deposits Addition, Accepts Pharma Retailer’s Cash Explanation

IIFL Capital Services Receives MCX Penalty Order of Rs 2.05 Lakh Over Abnormal and Non-Genuine Client Trades

ITAT Quashes Reassessment as Section 148 Notice Issued Beyond Limitation Period

ITAT Restores Thane Labour Law Practitioners Association’s Appeal for Merits