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 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.


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

The ITAT Mumbai held that Reassessment cannot bypass Section 153C when its foundation is material seized during search of another person.

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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 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

ITAT Quashes Section 148 Reassessment Based on Third-Party Search Material