The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has curtailed arbitrary estimation of income by the tax department and granted substantial relief to the assessee, holding that estimation must be grounded in past trends and factual business realities rather than ad hoc assumptions. The Bench of Sudhir Kumar (Judicial Member) and S. Rifaur…
ITAT Restricts Arbitrary 2% Income Estimation, Applies 0.40% GP Rate; Penalty Deleted
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.
Latest articles
Direct Tax
Enhanced 60% Tax Under Amended S. 115BBE Can’t Be Imposed Retrospectively: Rajasthan HC
The Rajasthan High Court has held that the enhanced tax regime introduced through the...
Direct Tax
Reopening Based on Insight Portal Information Without Seized Material is Invalid: ITAT
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has held that a...
Direct Tax
TOLA Extensions Doesn’t Apply to Black Money Act Proceedings: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed an assessment...
GST
GSTAT Appeal Fee: How It Should Be Vs. How Portal Is Computing
A fresh controversy has emerged over the manner in which the GST Appellate Tribunal...
More like this
Direct Tax
Enhanced 60% Tax Under Amended S. 115BBE Can’t Be Imposed Retrospectively: Rajasthan HC
The Rajasthan High Court has held that the enhanced tax regime introduced through the...
Direct Tax
Reopening Based on Insight Portal Information Without Seized Material is Invalid: ITAT
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has held that a...
Direct Tax
TOLA Extensions Doesn’t Apply to Black Money Act Proceedings: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed an assessment...

