Category: Seven Star

lipped from: https://taxguru.in/income-tax/allowability-50-claimed-indexed-construction-costs-due-lack-sufficient-evidence.html Meena Gupta Vs ACIT (ITAT Delhi) Conclusion: Denial of the entire expenditure incurred towards as cost of construction by AO could not be held

Clipped from: https://taxguru.in/income-tax/reassessment-proceedings-quashed-order-passed-u-s-148a-d-non-speaking-itat-delhi.html Reshma Kamal Abichandani Vs ACIT (ITAT Delhi) ITAT Delhi held that order passed u/s. 148A(d) is non-speaking since AO failed to provide adequate

Clipped from: https://taxguru.in/corporate-law/madras-hc-issues-orders-section-148-notices-faceless-assessment.html Mark Studio India Private Limited Vs ITO (Madras High Court) In a significant ruling, the Madras High Court addressed several procedural aspects of

Clipped from: https://taxguru.in/income-tax/notices-uploaded-e-filing-portal-itat-grants-assessee-opportunity-represent-case.html Alampalli Seetharam Udaya Shankar Vs ITO (ITAT Bangalore) Assessee was not aware of the notices issued since the same were uploaded only on

Clipped from: https://taxguru.in/income-tax/hc-invalidates-section-148-notice-due-non-compliance-faceless-assessment-provisions.html Shikhar Gadh Vs ITO (Punjab and Haryana High Court) In the case of Shikhar Gadh vs Income Tax Officer (Punjab and Haryana High Court), the

Clipped from: https://cleartax.in/s/cost-inflation-index#what Prices of goods increase over time, resulting in a fall in the purchasing power (quantity of goods that one unit of money can

lipped from: https://cleartax.in/s/capital-gains-calculation-base-year-shift Any person who is selling real estate, shares, or jewellery that is owned by him/her, needs to pay income tax on gains. Such

Clipped from: https://taxguru.in/income-tax/itat-grants-assessee-opportunity-negligence-responding.html Namtech Electronic Devices Ltd Vs ITO (ITAT Bangalore) In Namtech Electronic Devices Ltd Vs ITO (ITAT Bangalore), the Income Tax Appellate Tribunal (ITAT) addressed

Clipped from: https://www.taxscan.in/reassessment-under-income-tax-must-be-on-concrete-evidence-and-not-speculation-delhi-hc/471734/ In a recent judgment, the Delhi High Court struck down reassessment proceedings under Section 148 of the Income Tax Act, 1961 stating that

lipped from: https://www.taxscan.in/application-of-section-147-of-income-tax-act-by-ao-having-tangible-material-in-possession-indicating-escapement-of-income-chargeable-to-tax-is-valid-itat/322680/ The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the application of Section 147 of the Income Tax Act 1961, by an

Clipped from: https://www.taxscan.in/no-assessment-order-shall-be-passed-u-s-153c-of-income-tax-act-when-seized-documents-did-not-establish-any-correlation-with-that-assessment-year-itat/322122/ The Income Tax Appellate Tribunal (ITAT) Delhi bench held that no assessment order should be passed under Section 153C of the Income Tax Act, 1961 when seized

Clipped from: https://www.taxscan.in/reopening-of-assessment-u-s-147-of-income-tax-act-not-valid-in-absence-of-an-allegation-failure-to-disclose-material-fact-delhi-hc/302460/ The Delhi High Court has held that reopening of assessment under section 147 of the Income Tax Act, 1961 is not valid in

lipped from: https://www.taxscan.in/cita-makes-addition-without-considering-nris-only-50-ownership-claim-in-property-itat-remands-matter-for-proper-hearing/469648/ Considering CIT(A) made an addition ignoring the assessee’s 50% property ownership, the ITAT remanded the matter for fresh consideration By Kavi Priya – On December 23,

Clipped from: https://www.taxscan.in/assessee-not-expected-to-keep-e-portal-of-income-tax-dept-open-all-time-to-have-knowledge-of-what-is-being-done-punjab-and-haryana-hc-read-order/390764/ Individual or an Assessee not expected to keep e-portal of Income Tax Dept open all time to have knowledge of what is being