Follow Us:

ITAT Amritsar

Latest Posts in ITAT Amritsar

Validity of Section 148 notice by Jurisdictional AO instead of Faceless AO

June 29, 2024 7065 Views 0 comment Print

Analysis of Swarn Singh Vs ITO (ITAT Amritsar) on validity of notice u/s 148 by Jurisdictional Assessing Officer (JAO) vs Faceless Assessing Officer. Key rulings discussed.

In Absence of Separate Source, Surrendered Amount Taxable as Business Income

June 27, 2024 204 Views 0 comment Print

Relying on various judicial precedents, including the cases of Harish Sharma vs. ITO and Daulatram Rawatmull vs. CIT, the representative contended that in the absence of any separate source of income, the surrendered amount should be treated as business income.

TCS reported as payable in Audit Report cannot be added back to income u/s 43B

June 8, 2024 1359 Views 0 comment Print

ITAT Amritsar decision on Aay Kay Manufacturing Co. Vs ITO-CPC discusses TCS payable and Section 43B compliance, offering key insights for taxpayers.

Improper service of Section 148 notice renders assessment order invalid

May 25, 2024 5832 Views 0 comment Print

ITAT concluded that the service of notice under Section 148 was improper and did not meet statutory requirements. Consequently, the reopening of the assessment was deemed invalid, and the assessment order was quashed as void ab initio.

ITAT Orders Remand for Correct Fact-Finding in Negligent Appeal Dismissal

September 22, 2023 465 Views 0 comment Print

Explore the ITAT Amritsar’s order in the case of Smt. Bharti Singh vs. DCIT, involving a remand for accurate fact-finding after negligent appeal dismissal.

Reassessment without jurisdiction if grounds on which reassessment notice was issued were not found to exist

September 22, 2023 933 Views 0 comment Print

Explore the ITAT Amritsar order in the case of Smt. Bharti Singh vs. ACIT, covering reassessment jurisdiction, reasons, and legal implications.

Excess stock found during survey cannot be treated as deemed income u/s. 69B

September 22, 2023 2994 Views 0 comment Print

ITAT Amritsar held that excess stock found during the survey only be treated as income under the head business income and not as deemed income under section 69B of the Income Tax Act.

Deeming section 69 doesn’t apply when source of surrendered income proved to be business income

September 19, 2023 1155 Views 0 comment Print

ITAT Amritsar held that once source of surrendered income is proved to be business income, the same cannot be taxed as deemed income under section 69 read with section 115BBE of the Income Tax Act.

Initiation of assessment proceedings u/s 153C in case of searched assessee is invalid

September 4, 2023 2097 Views 0 comment Print

ITAT Amritsar held that initiation of Assessment Proceedings u/s 153C, instead of section 153A, in case of the searched assessee makes the entire assessment invalid. Accordingly, penalty levied u/s 271(1)(c) is not maintainable.

ITAT Grants Opportunity to Assessee in Ex-parte Proceedings: Remand to CIT(A)

July 5, 2023 1200 Views 0 comment Print

In the case of Late Sh. Ashok Kumar Goel Vs National Faceless Appeal Centre (NFAC), the issue of extending another opportunity to the assessee in ex-parte proceedings is examined. This article provides an analysis of whether a reasonable opportunity should be given to the assessee, even when an adjournment petition is rejected. The possibility of extending the opportunity of hearing in set-aside proceedings is also discussed. Read the full text of the order by ITAT Amritsar and the conclusion reached in this case.

Search Post by Date
July 2024