While reopening of assessment was sustained due to bank deposit information, the cash addition was deleted on merits. Proper explanation of source defeats Section ...

It was ruled that deciding appeals based on facts of another year is a serious legal error. The matter was sent back for reconsideration on correct ...

The Tribunal reviewed an addition based on demonetisation-era cash deposits despite detailed hospital records being produced. It ruled that ignoring cash books and patient registers was ...

The Tribunal held that although profiteering was initially computed, the developer had already passed on a higher amount to the buyer. With full discharge of Section 171 obligations, proceedings were ...

The Tribunal held that revision under Section 263 cannot be triggered merely on the Assessing Officers recommendation.

Separate NP Rates for Different Businesses Mandatory; 0.22% on Animal Trading and 8.7% on Scrap Upheld – ITAT Agra The Agra Bench of the ITAT dismissed the Revenue’s appeal and upheld the order of the ...

A pertinent question is circulating within economic discussions: could demonetisation happen again in India? While scepticism exists, with many arguing that black money continues to thrive in our ...

Income Tax Department was directed to encash the Demand Draft, confirm the sale, and issue the Sale Certificate in favour of the highest bidder, without prejudice to the Petitioner’s ...

It was ruled that money received from a parent through banking channels constitutes an explained source. The addition under Section 69A was deleted as the transaction was fully ...

Contempt Petition was not maintainable, as the NCLT had independent and effective jurisdiction under Section 425 of the Companies Act, 2013 to punish for contempt of its own orders, including those ...

GST law sets no deadline for deciding appeals, yet interest keeps accruing. Courts intervene where delay unfairly burdens compliant ...

The tax department has begun emailing taxpayers about pending demands shown on the portal. This explains why such demands exist and why the communication matters ...