ITAT Delhi held that reassessment proceedings beyond the prescribed period were invalid where alleged escaped income arose from unaccounted sales and not from assets. The Tribunal ruled that conditions under Sections 149 and 153A were not satisfied, leading to quashing of multiple reassessment notices.
The Supreme Court ruled that a decree passed without deciding maintainability and jurisdiction issues cannot be executed. It held that absence of judicial reasoning rendered the decree void and unenforceable.
The Calcutta High Court held that reassessment proceedings violated principles of natural justice since the assessee was not provided an opportunity of personal hearing before passing the order under Section 148A(d).
Wrong ITR form selection, incorrect residential status, and missing Indian income disclosures can create tax complications for NRIs. Proper verification of AIS, Form 26AS, and bank details is essential before filing returns.
Taxpayers now get three extra months to correct mistakes in originally filed income tax returns. The revised return mechanism remains useful for correcting errors like missed income, deduction mistakes, and wrong capital gains reporting.
ITAT held that loose sheets showing cash and cheque transactions could not justify additions under Section 153A where related cheque transactions were accepted as genuine and linked to group business dealings.
Service exporters must file monthly EDF declarations from October 2026 under new FEMA regulations. Non-compliance may affect eBRC generation, GST refunds, and FEMA compliance.
Telangana High Court declined to examine the GST rate dispute in writ jurisdiction, holding that the matter required factual scrutiny of agreements and notifications. The petitioner was directed to pursue the statutory appellate remedy under Section 107.
Taxpayers with foreign assets, high income, capital gains, or business complexities cannot file simplified ITR forms. Using the wrong form may result in defective returns and compliance notices.
The ITAT held that a penalty notice without specifying whether the case involved under-reporting or misreporting of income is legally unsustainable. The Tribunal ruled that such defective notices are void-ab-initio and cannot support penalty proceedings.
