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ITAT

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ITAT Limits Tax Authority Powers: Reassessments Require Independent Verification
Posted inBlog

ITAT Limits Tax Authority Powers: Reassessments Require Independent Verification

The Ruling and Its SignificanceThe Income Tax Appellate Tribunal (ITAT) recently issued a landmark ruling in a case involving Section 147 of the Income Tax Act, explicitly prohibiting tax authorities…
Posted by Prasenjit Bhowmik June 8, 2026
ITAT Remands Section 270A Penalty Case if Quantum Appeal Was Still Pending
Posted inBlog

ITAT Remands Section 270A Penalty Case if Quantum Appeal Was Still Pending

The Income Tax Appellate Tribunal (ITAT) Kolkata recently issued a significant ruling concerning the procedural handling of penalties under Section 270A of the Income Tax Act. In a decision that…
Posted by Prasenjit Bhowmik June 8, 2026
ITAT Kolkata Clarifies TDS Applicability on Material Costs in Installation Contracts
Posted inBlog

ITAT Kolkata Clarifies TDS Applicability on Material Costs in Installation Contracts

ITAT Kolkata clarifies TDS applies only to labor, not material costs, in installation contracts, offering crucial relief for businesses.
Posted by Prasenjit Bhowmik June 8, 2026
ITAT Ruling Clarifies Limits of Section 69 for Documented NBFC Funding
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ITAT Ruling Clarifies Limits of Section 69 for Documented NBFC Funding

ITAT clarifies Section 69 limits, ruling documented NBFC funding is explained income, preventing tax penalties for legitimate capital sources.
Posted by Prasenjit Bhowmik June 8, 2026
ITAT Mumbai Rules Against Using Third-Party Statements as Sole Basis for Tax Additions
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ITAT Mumbai Rules Against Using Third-Party Statements as Sole Basis for Tax Additions

ITAT Mumbai rules third-party statements alone cannot justify tax additions, emphasizing the need for corroborative evidence in tax assessments.
Posted by Prasenjit Bhowmik June 7, 2026
Borrowed Satisfaction: ITAT Quashes Penny Stock Additions in Multiple Family Cases
Posted inBlog

Borrowed Satisfaction: ITAT Quashes Penny Stock Additions in Multiple Family Cases

The Income Tax Appellate Tribunal (ITAT) Delhi has issued a landmark ruling, invalidating reassessment proceedings initiated against several family members involved in alleged penny stock transactions. The tribunal determined that…
Posted by Prasenjit Bhowmik June 7, 2026
ITAT Rules Against Penny Stock Tax Additions: Evidence Overcomes Suspicion
Posted inBlog

ITAT Rules Against Penny Stock Tax Additions: Evidence Overcomes Suspicion

ITAT's landmark ruling confirms evidence trumps suspicion in penny stock cases, protecting taxpayers from arbitrary tax additions.
Posted by Prasenjit Bhowmik June 7, 2026
ITAT Rules Against Section 115BBE Tax Levy on Pre-Amendment Surrendered Income
Posted inBlog

ITAT Rules Against Section 115BBE Tax Levy on Pre-Amendment Surrendered Income

ITAT clarifies that higher tax rates under Section 115BBE do not apply to income surrendered before the 2016 amendment.
Posted by Prasenjit Bhowmik June 7, 2026
ITAT Limits Tax Reassessment Powers: A Victory for Taxpayer Certainty
Posted inBlog

ITAT Limits Tax Reassessment Powers: A Victory for Taxpayer Certainty

ITAT's landmark ruling strengthens taxpayer certainty by limiting tax reassessment powers, preventing arbitrary reopening of past assessments.
Posted by Prasenjit Bhowmik June 7, 2026
ITAT Ruling Sets New Precedent for Tax Audits Involving Alleged Bogus Suppliers
Posted inBlog

ITAT Ruling Sets New Precedent for Tax Audits Involving Alleged Bogus Suppliers

Discover how a new ITAT ruling shifts the burden of proof in tax audits, requiring direct evidence beyond mere allegations of bogus suppliers.
Posted by Prasenjit Bhowmik June 4, 2026

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Recent Posts

  • ITAT Limits Tax Authority Powers: Reassessments Require Independent Verification
  • ITAT Remands Section 270A Penalty Case if Quantum Appeal Was Still Pending
  • Calcutta High Court Ruling Establishes TDS Records as Legal Proof of Financial Relationships
  • CESTAT Ruling Strengthens CENVAT Credit Eligibility Based on Service Nexus
  • NCLAT Finalizes Resolution Plan Stance, Dismissing GNIDA Appeal

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