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₹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...
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...
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...
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...
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...
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...
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.
Introduction The question of whether the Government can retain an amount collected as tax despite the absence of a lawful statutory liability has repeatedly arisen under the erstwh...
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...
A tax tribunal has sided with property owners involved in redevelopment disagreements, annulling a significant Rs 1.3 crore tax increment on a newly developed property. The tribuna...
In the case of Surender Gupta V/s Assistant Commissioner of Income Tax (W.P.(C) 7958/2019), the Delhi High Court dismissed a partnership firm’s petition seeking a refund of ₹1 cror...
Bombay High Court: Income Tax Department Cannot Take a Contrary Stand After Consistently Accepting the Same Position Doctrine of Consistency, Estoppel and Article 265: Revenue...
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench, ruled that due to an error made by the tax consultant, the income tax return was processed under the old tax regime. As a...
Bombay High Court Grants Unconditional Stay of ₹15.96 Crore Income-Tax Demand Sur Gems v. Principal Commissioner of Income Tax – High-pitched assessment, prima facie limitation...
Section 43CA Cannot Be Applied to Land Sale Agreed Before Its Introduction: ITAT Jaipur Where agreement to sell was executed before section 43CA came into force and substantial c...
The Delhi High Court has dismissed the Income Tax Department’s appeal against a decision made by the Income Tax Appellate Tribunal (ITAT). This decision concerned a search assessme...
Unsold Flats Cannot Be Taxed on Notional Rent Before They Become Legally Occupiable Bombay High Court upholds relief to a builder: No annual letting value can be assessed for a...
Builder’s Cash Receipts: When Can Unexplained On-Money Be Taxed Under Section 69A? ITAT Mumbai | M/s Madhu Developers | ITA No. 2372/Mum/2023 | Order dated 28 November 2023 The...
While completing the assessment, the Income Tax Assessing Officer (AO) rejected the refund claim on the sole ground that a refund could not be claimed through an ITR filed under Se...
Can the entire difference between a property’s actual purchase price and its stamp-duty value be added to the income of just one of its co-owners? A recent ruling by ITAT Mumbai ha...
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...
The Punjab and Haryana High Court set aside the newly inserted Section 147A of the Income Tax Act, 1961, as unconstitutional. The provision mentioned the role of the Jurisdictional...
Pellegrino v. United States, No. 1:26-cv-00403, 2026 WL (Fed. Cl. Aug. 20, 2026) In Pellegrino v. United States, No. 1:26-cv-00403 (Fed. Cl. Aug. 20, 2026), Judge Philip S....
When CPC Says “NO” to Rebate under Section 87A – Nagpur ITAT Says, Yes! A significant ruling on Section 87A rebate against Short-Term Capital Gains under Section 111A Sometimes...
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