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Penalty proceedings u/s 274 r/w section 271(1)(c) - estimation of income - bogus purchases
Penalty
proceedings u/s 274 r/w section 271(1)(c) - estimation of income - bogus
purchases ITAT
MUMBAI:-Amish Anantrai Modi Versus Deputy Commissioner of Incometax, Central
Circle 2 (1), Mumbai,No.- I. T. A No....
Delhi High Court Upholds PCIT-Only Sanction for High-Value Tax Evasion Prosecution: Collegium Approval Not Required Under CBDT Circulars
Saumya
Chaurasia v. Union of India & OthersDelhi High
Court | WP(C) 8191/2025 | Dec 8, 2025** 1. Core
Issue:-Whether, for prosecution under Section 276C(1) (wilful attempt to evade
tax) and Section 278E (pre...
Whether the assessment framed u/s 153A for Assessment Year 2010-11 (pursuant to search action) was barred by limitation, as it fell beyond the permissible extended period of 10 years prescribed under Explanation 1 to Section 153A(1), particularly in light of the binding judgment of the Delhi High Court in Ojjus Medicare Pvt. Ltd
Whether the
assessment framed u/s 153A for Assessment Year 2010-11 (pursuant to search
action) was barred by limitation, as it fell beyond the permissible extended
period of 10 years prescribed under Explanation 1 to ...
Deemed Let-Out Property: Contemporary Tax Treatment of Residential, Commercial and Stock-in-Trade Units After the Finance Act, 2024
Deemed Let-Out
Property: Contemporary Tax Treatment of Residential, Commercial and
Stock-in-Trade Units After the Finance Act, 2024 A central
feature of the scheme of taxation under the head “Income from House ...
The Dispute Resolution Panel (DRP): Concept, Scope and Appellate Framework under the Income-tax Act, 1961
The Dispute
Resolution Panel (DRP): Concept, Scope and Appellate Framework under the
Income-tax Act, 1961 1. IntroductionThe Dispute
Resolution Panel (DRP) is one of the most significant innovations introduced in...
Addition under Section 68 for Demonetisation Cash Deposits – Whether Possible When Books Are Rejected and Cash Sales Duly Recorded?
Addition under
Section 68 for Demonetisation Cash Deposits – Whether Possible When Books Are
Rejected and Cash Sales Duly Recorded? ITAT Mumbai –
Rakesh Jain v. DCIT (2025)ITA No.
546/Mum/2025 │ Order date...
CASE STUDY SERIES, Section 45(3), Section 45(4), Section 9B & Rule 8AB – Income-tax Act, 1961** (With conceptual integration through CBDT Circular No. 14/2021)
CASE STUDY
SERIES Section 45(3),
Section 45(4), Section 9B & Rule 8AB – Income-tax Act, 1961**(With
conceptual integration through CBDT Circular No. 14/2021) I. Conceptual
Framework1. Section
45(3) â...
Addition under Section 68 – Evidentiary Value of Statements under Section 131 – Scope of Provisos to Section 68 – Valuation under Section 56(2)(viib)
Addition
under Section 68 – Evidentiary Value of Statements under Section 131 – Scope of
Provisos to Section 68 – Valuation under Section 56(2)(viib)
Madras High
Court – PCIT, Central–1, Chennai v. Lalith...
Addition under Section 69 read with Section 115BBE – Cash Deposits During Demonetisation – Rate of Tax Prior to 01.04.2017 – ITAT Chandigarh Decision
Addition under
Section 69 read with Section 115BBE – Cash Deposits During Demonetisation –
Rate of Tax Prior to 01.04.2017 – ITAT Chandigarh Decision Shri Dilbag
Singh v. ITO Ward-1, KaithalITA No.
924/Cha...
Foreign Tax Credit under Indian Income-tax Law – Concept and Procedure for Residents and Non-Residents
Foreign Tax
Credit under Indian Income-tax Law – Concept and Procedure for Residents and
Non-Residents The concept of
Foreign Tax Credit (FTC) in Indian tax law is rooted in the principle that the
same income ...