Ltd., has ruled that cash deposits made during the demonetization period, which are duly recorded in the assessee’s books of account, cannot be treated as unexplained money under Section 69A of the ...

Allahabad High Court has ruled that circulars issued by the Goods and Services Tax (GST) Council are binding on the tax department. The court quashed demand orders issued against Krishna ...

Bombay High Court recently set aside an income tax assessment order and remanded the case back to the assessing officer after the Income Tax Department admitted to a “bonafide error” in not granting a ...

Despite this intimation, the tax department continued to issue notices and subsequently passed a demand order on February 26, 2025, all in the name of the deceased individual. One of the legal heirs, ...

Income Tax Appellate Tribunal (ITAT), Delhi bench, has registered the dismissal of an appeal filed by Flovel Energy Pvt. Ltd. for the assessment year 2017-18. The action was taken by the tribunal ...

The core of the petitioner’s argument before the High Court was that a notice under Section 46 is a prerequisite for initiating assessment proceedings under Section 62. Without this prior notice and ...

Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has set aside orders from the Commissioner of Income Tax (Exemption) [CIT (E)] that had rejected applications for registration under Section 12A ...

The Commissioner (Appeals) had dismissed the company’s appeal (Appeal No. 212 of 2024) on the sole ground that the mandatory pre-deposit required under Section 107 of the Central Goods and Services ...

Delhi High Court has dismissed an appeal filed by the Principal Commissioner of Income Tax (PCIT) against an order of the Income Tax Appellate Tribunal (ITAT) concerning the assessment of Punjab & ...

Given the trust’s failure to provide any explanation for its non-compliance, the ITAT decided to impose a cost of Rs. 5,000 on the trust. The trust is required to pay this amount to the Income Tax ...

Maa Kamakhya Trader Vs Additional Commissioner Grade 2 And Another (Allahabad High Court) In a significant ruling, the Allahabad High Court has asserted that once the Goods and Se ...

Subsequently, the AO estimated the company’s income by applying a net profit rate of 20% on the declared turnover of Rs. 8,76,17,876, arriving at an estimated income of Rs. 1,75,23,575. This resulted ...