Income Tax : CS 04 scrutiny examines whether trusts and NGOs validly claimed exemption in ITR-7 despite registration, approval, renewal, cancel...
Income Tax : CBDT has identified six categories of returns for compulsory scrutiny during FY 2026-27. Selection triggers detailed examination b...
Income Tax : The article explains that 30 June is the Department's deadline to issue scrutiny notices for eligible returns, not a filing deadli...
Income Tax : Large cash deposits, credit card spending, FDs, and UPI transactions are monitored by tax authorities. Taxpayers must ensure their...
Income Tax : CBDT has identified search, survey, and reassessment cases for compulsory scrutiny in FY 2026-27. The guidelines highlight the Dep...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : Revised Instruction for constitution and functioning of Local Committees to deal with taxpayers’ grievances due to high-pitched ...
Income Tax : Ministry of Finance Income Tax Returns( ITR) scrutiny reduced to 0.25% in AY 2018-19 IT Dept is changing -from just enforcement ...
Income Tax : Start-ups and their investors filing requisite declarations not to be subjected to any scrutiny regarding valuations of share prem...
Income Tax : Income Tax Department has accepted 99.65 per cent of tax returns as it is and has picked only 0.35 per cent cases for detailed scr...
Income Tax : The case examined whether scrutiny selection without meeting CBDT conditions was valid. The ITAT held that failure to satisfy mand...
Income Tax : Chennai ITAT set aside the assessment for exceeding the limited scrutiny scope and disallowing 80P without a spea...
Income Tax : Tribunal held that once a scrutiny assessment under Section 143(3) allows a claim, any earlier disallowance by CPC under Section 1...
Income Tax : Kolkata ITAT rules assessment void after a 143(2) notice failed to specify the type of scrutiny, violating mandatory CBDT instruct...
Income Tax : ITAT Kolkata cancels a Section 144 assessment, ruling that the foundational Section 143(2) notice was invalid for failing to compl...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : CBDT outlines parameters for compulsory income tax scrutiny for FY 2025-26, including survey, search & seizure cases, registration...
Income Tax : Understand the guidelines set by the Indian Ministry of Finance for the compulsory selection of returns for complete scrutiny duri...
Income Tax : Government of India issues guidelines for compulsory selection of returns for Complete Scrutiny during FY 2023-24. Find the proced...
Income Tax : Central Board of Direct Taxes (CBDT) released guidelines outlining the parameters and procedures for the compulsory selection of i...
In order to encourage more people to file income tax returns, necessary provisions may be introduced, such as: Individuals having taxable income upto Rs. 10 lakhs may not be subjected to scrutiny for 3 Assessment Years unless there is specific information available with the Department regarding his high value transaction.
In scrutiny assessments, adherence to CBDT instructions is crucial. A recent ITAT decision (Ganadhiraj Mazoor Sahakari Sanstha Ltd vs ITO) emphasizes the importance of following proper procedures, especially when making additions on grounds not communicated to the assessee initially. Taxpayers should be vigilant about their assessments, ensuring compliance with procedural norms.
n the era of technology and data analytics, Income Tax Department too empowered itself with one of the most enabling report which allowed itself to peep itself into the assessee’s deeper secrets by laying down the responsibility on Financial Institution like Banks, Mutual Funds, to submit AIR (Annual Information Report). In this article, what we will try to analyse in the forthcoming discussion that how this crucial guard of information available with the department against evasion slowly becoming an indiscriminate weapon in the hands of the officials for harassing the assesses and how the proceedings emanating from AIR should be dealt with.
The CASS Committee has been re-constituted under Chairmanship of Director General of Income Tax (Risk Assessment) {DGIT (RA)} as under:
Electronic assessment, also known as e-assessment, online assessment, computer assisted/mediated assessment and computer-based assessment, is the use of information technology in various forms of assessment. Finance Minister, Arun Jaitley, also announced of such scheme in his budget speech on February 1, 2018; which would almost eliminate person-to-person contact in the Tax Department for greater transparency in assessment procedures.
Discover the 7 common reasons why you receive income tax notices, from TDS mismatches to high-value transactions.
The issue under consideration is whether the conversion of case from limited scrutiny to complete scrutiny prior to receipt of approval from Pr. CIT is justified in law?
The Ld. Pr. Commissioner of Income Tax wants the Assessing officer to look into various other issues of the assessee which were not covered within the purview of the
If the A.O. has taken up the issue of determining fair market value of the property in question as on 01/4/1981 without converting the limited scrutiny to comprehensive scrutiny by taking the prior approval of the competent authority then the said order passed by the A.O. will be nullity as beyond his jurisdiction.
It has been brought to the notice of Board that notices under section 143(2) of the Income-tax Act, 1961 (‘Act’) were generated in respect of certain invalid returns of the assessees filed for the Assessment Year 2017-18 through CASS Cycle 2018. As the scrutiny of such returns will pose a challenge for the AO and is bad in law, I am directed to state that Assessing Officers shall drop the proceedings u/s 143(2) of the Act in such cases and reopen the same by issue of notice under section 148 of the Act.
