ITAT held that the AO’s verification of seized material, statements, and bank records constituted proper enquiry. Key takeaway: Section 263 cannot be invoked merely because the PCIT prefers a ...

ITAT Delhi applied the principle that if the foundation (quantum addition) is removed, the superstructure (penalty) collapses. The Section 270A penalty was deleted once the quantum was wiped out.

ITAT Delhi ruled that penalties under section 271DA cannot be levied without the AO recording satisfaction in the assessment order, following Supreme Court ...

ITAT held that although the assessee attempted to justify cash deposits as scrap sales, lack of key supporting records justified only a partial lump-sum addition. Key takeaway: Section 68 additions ...

The Tribunal ruled that Section 271(1)(c) penalty cannot be imposed on estimated income. While the penalty on actual taxable additions remains, the portion related to estimated income was deleted. Key ...

ITAT held that a reassessment notice issued under Section 148 is invalid if approved by JCIT instead of the Pr.CIT for cases reopened after four years. Limitation rules under section 151 must be ...

The Tribunal found that the assessee’s audited accounts, finalized before demonetisation, clearly established sufficient cash ...

The case highlights concerns over an officer pressuring a CA to sign GST documents like an audit report and threatening ...

Discover why ULIPs offer better returns, flexibility, and dual benefits compared to tradition-al savings plans, making them ...

A practical guide on how India taxes imported digital services, explaining GST under RCM and when TDS applies. Key takeaway: Buyers, not sellers, bear compliance and potential extra ...

The ITAT ruled that additions under Section 69 based solely on third-party statements and unverified documents cannot stand. Key takeaway: credible, corroborated evidence is essential for tax ...

A clear breakdown of mandatory financial details—assets, liabilities, and income—that candidates must disclose in nomination affidavits. Key takeaway: transparency is enforced to help voters make ...