Posted inBlog
Tax Tribunal Upholds Cash Deposit Scrutiny Amidst Insufficient Business Proof
Hyderabad ITAT rules that mere submissions and audit reports are insufficient; tangible business proof is essential for explaining cash deposits.
Posted inBlog
ITAT Bangalore Rules Re-Deposited Withdrawn Cash Not ‘Unexplained’
Discover how ITAT Bangalore ruled that re-depositing previously withdrawn cash for business expenses isn't unexplained income under Section 68.
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Income Tax Scrutiny Intensifies for Property Deals Below Circle Rate
Avoid tax trouble: Learn why property deals below circle rate trigger intense income tax scrutiny and potential liabilities.
Posted inTaxation and Legal Insights
ITAT Reaffirms Opening Balances Cannot Be Taxed Under Section 68
The Income Tax Appellate Tribunal (ITAT) has delivered a landmark ruling reaffirming that tax authorities cannot tax opening balances carried forward from previous years under Section 68 of the Income…
Posted inTaxation and Legal Insights
High Court Quashes Tax Assessment Order Over Faulty Email Communication
High Court voids a tax assessment order due to faulty email communication, stressing fair hearing rights against digital automation errors.
Posted inTaxation and Legal Insights
Delhi High Court Rules Unsigned Section 148 Notices Valid Under Digital Era Provisions
Delhi High Court validates unsigned Section 148 income tax notices, confirming their legal enforceability in the digital age if the officer is identifiable.
Posted inTaxation and Legal Insights
Andhra Pradesh High Court Rejects Challenge to Income Tax Summons Amidst Allegations of Mala Fide Action
The Andhra Pradesh High Court recently upheld the validity of summons issued under Section 131(1A) of the Income Tax Act, dismissing claims that the summons were issued with mala fide…
Posted inTaxation and Legal Insights
Tax Tribunal Overturns Reassessment Due to Time-Barred Notice
The Income Tax Appellate Tribunal (ITAT) Mumbai bench has quashed a reassessment proceeding, ruling that the notice under Section 148 of the Income Tax Act, 1961, was issued beyond the…