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ITAT Chennai Quashes Section 271D Penalty Issued Beyond Limitation Period
ITAT Chennai deletes a Rs 3 lakh penalty under section 271D, ruling that orders passed after the six-month limitation period are invalid.
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Kerala High Court Rules Bona Fide Mistake Permits Fresh Opportunity for KVAT Appeal Delay Condonation
Kerala High Court quashes KVAT appeal rejection, ruling that a bona fide mistake warrants a fresh opportunity to condone filing delays.
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Hyderabad ITAT Deletes ₹2.55 Crore On-Money Additions for Lack of Corroboration
In a significant legal development, the Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has deleted tax additions amounting to ₹2.55 crore. Official reports indicate that the tribunal ruled…
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Ahmedabad ITAT Rules Only 8% Profit on Unaccounted Sales is Taxable
In a notable tax jurisprudence development, the Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has ruled that only the profit element of unaccounted sales is subject to taxation,…
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Ahmedabad ITAT Rules on Taxation of Unaccounted Cash Receipts for Builders
Learn how the Ahmedabad ITAT ruled that only a twenty percent profit element of a builders unaccounted cash receipts is subject to income tax.