ITAT Surat

Reopening of assessment before obtaining sanction of CIT is void ab initio

ITO vs. Ashok Jain (ITAT Surat)

CIT(A) has rightly quashed the assessment because the very foundation for issuance of notice under section 148 is the approval from the competent authority, i.e. Commissioner of Income Tax, and in the absence of such, such notice is void ab initio. ...

Read More

ITAT deletes penalty on Failure of AO to mention specific limb of section 271(1)(c); Penalty cannot be imposed for mere valuation difference

Shah Virchand Govanji Jewellers Pvt. Ltd. v. ACIT-Valsad (ITAT Surat)

Penalty U/s. 271(c) Addition for difference on account of method of valuation of Closing Stock without any intention to to conceal income or furnishing of inaccurate particulars of income not justified...

Read More

Browse All Categories

CA, CS, CMA (4,011)
Company Law (4,332)
Custom Duty (7,186)
DGFT (3,847)
Excise Duty (4,176)
Fema / RBI (3,587)
Finance (3,802)
Income Tax (28,846)
SEBI (3,039)
Service Tax (3,424)