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Income Tax : The article explains how accurate Form 10BD reporting protects donor deduction claims, prevents penalties, and ensures consistency...
Income Tax : The article explains what remains unchanged under the new tax law while highlighting critical compliance checks taxpayers should u...
Income Tax : AO rejects books of accounts and applies flat net profit rate. Can taxpayer claim depreciation separately or is it embedded in tha...
Income Tax : The article highlights common return filing errors, including wrong ITR forms and income mismatches, that can result in defective ...
Income Tax : The ITAT Bangalore held that no disallowance under section 14A read with Rule 8D can be made where the assessee did not earn exemp...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Tribunal quashed the reassessment after finding that the assessee had already filed the return under Section 139 before issuan...
Income Tax : The Tribunal ruled that the Revenue cannot assess the full transaction value in the hands of a confirming party absent proof of be...
Income Tax : ITAT deleted the addition after finding that neither possession nor ownership had passed during the relevant assessment year. The ...
Income Tax : The Court emphasized that reassessment proceedings must comply with principles of natural justice by providing an effective opport...
Income Tax : ITAT held that proving the mode of payment is not enough to secure deduction for political contributions where evidence points to ...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
The Tribunal held that sanction for reopening was granted mechanically and without independent application of mind, as required under Section 151. An undated and non-speaking approval vitiated the entire reassessment proceedings.
Failure to demonstrate a dated approval under Section 151 proved fatal to the Revenue’s case. The decision underscores strict compliance in reopening assessments.
The assessment was set aside as the Revenue produced no acknowledgment of service. The ruling reiterates that service of notice is foundational to reassessment.
The Tribunal held that the first appellate authority has a statutory duty to decide grounds on merits and cannot dismiss them as not adjudicated for want of details. Orders violating sections 250(6) and 251(1) were set aside and remanded for fresh adjudication.
The Tribunal held that reassessment under Sections 147/144B is void if no notice under Section 143(2) is issued. Acting on a return filed or adopted in response to Section 148 triggers mandatory jurisdictional compliance.
The Tribunal held that extended block assessment beyond six years is invalid where escaped income is below ₹50 lakh. Jurisdiction under Sections 153A/153C cannot be assumed without meeting statutory limits.
Where real estate sale proceeds and donations are transparently reflected in financial statements, unexplained money provisions fail. The decision reinforces limits on Revenues powers based on conjecture.
The court held that reopening an assessment on the same facts amounts to an impermissible change of opinion. Arbitrary second reassessment notices were quashed with ₹1 lakh costs imposed to deter harassment.
ITAT affirmed that assessments for block period years must be framed only under Section 153C. Any assessment completed under Section 143(3) during such period is void in law.
The tribunal ruled that reassessment notices for AY 2015-16 issued after 31 March 2022 are barred by limitation. The key takeaway is that TOLA extensions do not apply to this assessment year.
