Social Media Ideas for Income Tax Search And Seizure

Suspicion Is Not Income: Karnataka HC Rejects Tax Additions Based on Extrapolation

Suspicion Is Not Income: Karnataka HC Rejects Tax Additions Based on Extrapolation     Seized Papers May Trigger an Enquiry-But They Cannot Automatically Become Evidence of Unaccou...

Chennai ITAT Upholds Section 153C Jurisdiction Relying on Seized Material, Restores ₹13.53 Cr Addition

Rainbow Foundation Ltd. is engaged in real estate development and sale of apartments. After search and seizure operations conducted on 21 April 2016, the firm was subjected to asse...

Seized Excel Sheet, Cash Loans and Section 69: ITAT Upholds Addition When Assessee Could Not Explain the Entries

Seized Excel Sheet, Cash Loans and Section 69: ITAT Upholds Addition When Assessee Could Not Explain the Entries     80C and HRA claims also rejected for lack of evidence – ITAT Hy...

Fake Income-Tax Raid: When Fear Becomes a Tool for Extortion

Fake Income-Tax Raid: When Fear Becomes a Tool for Extortion   A ₹1 crore demand, fake officials and a staged raid – a reminder that taxpayers must know what a genuine tax action l...

Retired man deposits Rs 1.33cr, files no ITR; taxman sends notice, what ITAT said

The Income Tax Department also noted that the individuals had not filed an income tax return (ITR) for the relevant year. This meant the department did not have details of the inco...

Man skipped ITR, declared Rs 12.9 lakh income after notice; ITAT cancels 200% penalty

The man in this case failed to file his income tax return, and the Income Tax Department issued him a notice. He subsequently responded by filing an ITR for assessment year (AY) 20...

Delhi HC Directs Opening of Taxpayer’s Locker Seized for More Than 30 Years

The Delhi High Court has directed the Income Tax Department to release and open a taxpayer’s locker that remained seized for over 30 years. The Court held that the prolonged restra...

Rs 2.47 cr cash deposit gets tax notice: Why ITAT Delhi ruled in favour of assessee

The shop owner said that deposited cash had come from sales generated by his pharmacy and had been properly recorded for in the concerned business books. To support his explanation...

GST Search at Advocate’s Office: Client Confidentiality Cannot Mean Unrestricted Access to Digital Records

GST Search at Advocate’s Office: Client Confidentiality Cannot Mean Unrestricted Access to Digital Records   Delhi High Court lays down safeguards while permitting examination of s...

Rs 30L salary, missed ITR after job switch; why ITAT cancelled Rs 3.74 lakh penalty

What appeared to be a filing lapse eventually turned into a tax penalty of Rs 3.74 lakh. The Income Tax Department took a strict view of the matter, maintaining that had the non-fi...

Karnataka HC: Director Cannot Individually Challenge Income Tax Search Against Company

The Karnataka High Court has ruled that a company director can’t challenge an income tax search and seizure conducted against the company in their individual capacity, provided the...

Section 69A Addition Cannot Be Sustained Without Proving Ownership of Unexplained Money: ITAT Jaipur

Section 69A Addition Cannot Be Sustained Without Proving Ownership of Unexplained Money: ITAT Jaipur Third-party electronic material cannot replace the foundational requirement of...

Delhi ITAT Restricts Reopening of Assessment Years Beyond Prescribed Period in Search Cases

The Delhi Income Tax Appellate Tribunal (ITAT) has made a significant ruling regarding the jurisdiction of assessing officers under Section 153C of the Income Tax Act, 1961. The tr...

₹5.01 Crore Suppressed Sales, But Only ₹10.02 Lakh Taxable

₹5.01 Crore Suppressed Sales, But Only ₹10.02 Lakh Taxable     ITAT Mumbai Says Unrecorded Turnover Cannot Automatically Be Treated as 100% Income A business can have unrecorded sa...

Rs 10L investment, different explanations: why ITAT deleted tax addition & penalty

The dispute arose after the income tax department received information about an investment of Rs 11.25 lakh made by a man with a wealth management firm. The assessing officer accep...

Indian in Kuwait sent Rs 1.09 crore, no ITR; ITAT deletes Rs 5.52 lakh, checks Rs 2.5 crore

The absence of an original ITR became a key issue. Although the department had information about the substantial sums held in his Indian accounts, there was no tax return on record...

₹2.31 करोड़ की Property पर आया Tax का मामला, ITAT पहुंचते ही क्यों बदल गई पूरी तस्वीर?

Excel Sheet Entry Alone Cannot Justify Addition under Section 69A: Delhi ITAT

Excel Sheet Entry Alone Cannot Justify Addition under Section 69A: Delhi ITAT In the age of digital accounting, an Excel spreadsheet can contain hundreds of rows, thousands of figu...

Property deals worth ₹8,500 crore under income tax department's scanner

The Income-Tax Department is ramping up its examination of property deals worth ₹8,500 crore, focusing on unreported and undervalued transactions potentially linked to benami owner...

She declared Rs 43,796, misses Rs 14.02L; hit with 200% penalty, but ITAT gave relief

This is the case of a 57-year old non-resident Indian (NRI) woman who ended up under-reporting her income when she filed her Income Tax Return, and the gap was huge.

NRI bought Rs 2.31 crore property, skipped ITR; why ITAT struck down tax demand

A Dubai-based NRI who did not file her income tax return faced a tax demand after the Income Tax Department flagged her Rs 2.31 crore property purchase. However, the Mumbai ITAT la...

Can a Third-Party Seized Document Reopen Your Assessment? Gujarat HC Says There Must Be a “Live Nexus”

Can a Third-Party Seized Document Reopen Your Assessment? Gujarat HC Says There Must Be a “Live Nexus”   A broker’s register entry, by itself, cannot justify reassessment when it d...

ITR-BN: The New Return Form for Block Assessments – What Every Taxpayer Should Know

ITR-BN: The New Return Form for Block Assessments – What Every Taxpayer Should Know   CBDT’s new form puts the entire block-period tax history on the assessee’s table Search procee...

Mumbai ITAT Quashes Rs. 1.23 Crore Penalty, Says Tax Claim Rejection Alone Doesn’t Prove Concealment

The Income Tax Appellate Tribunal (ITAT), Mumbai, has mentioned that only because of the claim rejection of the taxpayer, a conclusion of concealed facts or false explanation is no...