Tax Guru

Final Assessment Ignoring DRP Directions Held Void; No Post-Limitation Cure Permissible

Spectro Analytical Labs Private Limited Vs AU Income Tax Department (ITAT Delhi) Final Assessment Ignoring DRP Directions Held Void; No Post-Limitation Cure ...
Tax Guru

No Addition u/s 56(2)(x) in 153A Without Incriminating Material: ITAT Delhi

The Tribunal held that additions in a search assessment cannot survive without incriminating material. Mere repetition of an annulled earlier assessment was found legally ...

Rs 7 crore held as unexplained cash credit; man fights and wins case in ITAT Mumbai as it rules loose papers, chats can't be treated as evidence

The Income Tax Appellate Tribunal in Mumbai has ruled in favour of Mr. Nilawar. The tribunal cleared him of unexplained cash credit charges amounting to Rs 11 crore. Evidence including diaries and ...

Landlord gets tax notice about addition of Rs 7 lakh to his income as deemed rent of his five vacant apartments; he fights and wins case in ITAT Ahmedabad

Landlord gets tax notice adding Rs 7 lakh deemed rent to his income for letting his five properties remain vacant; he said he tried his best to find tenants but could not and ultimately sold the ...

Niti

NSSO has released the latest NSSO data on household consumer expenditure which indicates that India's poverty level has ...