Penny Stock Addition: Genuineness must be tested on human probabilities and surrounding circumstances, not mere documentation- ITAT Ahemedabad
Penny Stock Addition: Genuineness must be tested on human probabilities and surrounding circumstances, not mere documentation- ITAT Ahemedabad ITAT Ahmedabad in the case of Gitaben Dineshbhai Patel v. ITO-ITA No. 717/Ahd/2025 | Order dated: 4 November 2025 on penny stock matter has held that genuineness must be tested on human probabilities and surrounding circumstances,… […]
Reassessment Notices Issued in the Name of a Deceased Person is invalid
Reassessment Notices Issued in the Name of a Deceased Person is invalid Reassessment Notices Issued in the Name of a Deceased Person is invalid as held by ITAT Delhi ruling in Lalita Agarwal (Legal Heir of Late Shri Subhash Chandra Agarwal) v. ACIT -(ITA Nos. 5663–5667/Del/2024, dated 12 November 2025). Let us have a Short… […]
No addition permissible on the basis of WhatsApp chats or screenshots as it lack evidentiary value without section 65B certification and corroboration: ITAT
No addition permissible on the basis of WhatsApp chats or screenshots as it lack evidentiary value without section 65B certification and corroboration: ITAT Recently, Mumbai ITAT in the case of DCIT v. Niru Dhiren Shah (ITA No. 4294/Mum/2025) was concerned with the issue of evidentiary value of WhatsApp Chats in Tax Proceedings. Let us… […]
Addition under section 68 was unjustified as the creditworthiness and genuineness could not be re-examined for a loan already accepted in prior years: ITAT
Addition under section 68 was unjustified as the creditworthiness and genuineness could not be re-examined for a loan already accepted in prior years: ITAT Where assessee was subjected to reassessment for an alleged unsecured loan treated as accommodation entry but established through records that no fresh loan was received in relevant year and amount… […]
Employee granted TDS Credit as the employer after deducting the TDS failed to deposit with the Government Treasury
Employee granted TDS Credit as the employer after deducting the TDS failed to deposit with the Government Treasury The tax department contends that credit of TDS can be granted only if TDS is paid to central government by the deductor and not otherwise per section 199. In this case employer failed to pay the… […]
Reassessment notices issued by JAO instead of FAO are invalid and unsustainable in law: Jodhpur ITAT
Reassessment notices issued by JAO instead of FAO are invalid and unsustainable in law: Jodhpur ITAT The Hon’ble Rajasthan High Court (Jodhpur Bench), in Darshan Dhankani vs. Principal Commissioner of Income Tax (Central), Jaipur & Ors. [Order dated 06.11.2025], has once again reaffirmed the judicial stand that reassessment notices issued by Jurisdictional Assessing Officers… […]
Entire property’s ALV cannot be taxed where only a part is let out; ALV must be proportionate to the let-out portions.
Entire property’s ALV cannot be taxed where only a part is let out; ALV must be proportionate to the let-out portions. An interesting issue of treatment of Annual lettable Value of the properly arose before ITAT in the case of Asha Burman vs. ACIT, Circle 46(1), New Delhi-ITAT Delhi, ITA Nos. 539 to 544/Del/2024,… […]
When Data Speaks Louder Than Returns: Your Next Steps as a Taxpayer (Part 2)
When Data Speaks Louder Than Returns: Your Next Steps as a Taxpayer (Part 2) If you read last Monday’s column, you already know how Nagpur’s data-driven drive unfolded – missing land-record entries, invisible cooperative-bank deposits, benami properties owned by people who didn’t even own proper footwear, and refund claims that deserved a bravery award. The idea… […]
TDS on GST: Whether Tax Should Be Deducted on Gross Amount or GST-Exclusive Amount? A Complete Analysis under Sections 194C and 194J of the Income Tax Act, 1961
TDS on GST: Whether Tax Should Be Deducted on Gross Amount or GST-Exclusive Amount? A Complete Analysis under Sections 194C and 194J of the Income Tax Act, 1961 The question “Should TDS be deducted on the amount including GST or excluding GST?” continues to confuse businesses, accountants and even tax officers. Though CBDT has… […]
Allahabad High Court rules that Speed Post is not equivalent to Registered Post for Section 148 notice service
Allahabad High Court rules that Speed Post is not equivalent to Registered Post for Section 148 notice service Allahabad High Court has recently held that Speed Post is not equivalent to Registered Post for Section 148 notice service. Let us have a Short Overview of the Case: – Case Overview Court: Allahabad High Court… […]
