The issue involved penalty on disallowance of lease premium deduction. The Tribunal held that admission of the issue by the High Court made it debatable. It ruled that penalty cannot be imposed in ...

The Tribunal held that consistent investment history and documentary proof established genuineness of share transactions. Additions under Section 68 were deleted due to lack of contrary ...

In a significant ruling that underscores the evidentiary limits of search-based tax assessments, the Mumbai bench of income ...

GE T&D India Ltd announced that it has secured orders worth approximately Rs 370 crore from Power Grid Corporation of India. (Image/Reuters) The Income Tax department has prescribed a ceiling of Rs 1 ...

The case is a reminder for NRIs and PIOs sending money to parents in India to maintain records of remittances, original ...

https://www.thehindubusinessline.com/portfolio/personal-finance/itr-filing-why-belated-returns-and-rectification-by-assessee-may-become-a-thing-of-the-past ...

New Delhi, Jul 19 () The Delhi High Court has directed CBI probe into the authenticity of an email after the Income Tax Department, which was alleged to be the sender, claimed forgery by the assessee.

The Karnataka High Court determined that Income Tax proceedings initiated posthumously against an Assessee cannot proceed against their legal representatives. This decision emerged from the dismissal ...

The income tax department in India has stated that the burden of proof to establish the creditworthiness of an investor lies with the company being assessed. This comes after several startups, ...

New Delhi: The Supreme Court has held that an assessee must comply with a summons and furnish a response to a show cause notice when issued by either the Central or State tax authority. Under the ...

If you have not updated the address in the PAN (Permanent Account Number) database, then the Income Tax Department has every right to send any notice at your old address and complete the assessment ...