Income Tax : Learn the updated provisions governing rectification, assessments, reassessments, and appeals under the Income-tax Act. This guide...
Income Tax : The ruling clarifies that unauthenticated digital chats and screenshots cannot form the sole basis of tax additions without proper...
Income Tax : Judicial rulings clarify that satisfaction for initiating action against other persons in search cases must be recorded promptly. ...
Income Tax : Section 270A penalties must specify the exact misreporting clause. Vague notices invalidate penalties and can restore immunity und...
Income Tax : Understand your legal rights and procedural protections during Income Tax and PMLA raids in India. Learn what to do and what to a...
CA, CS, CMA : Legal opinion sought by NFRA on auditing standards, penalties, and regulatory roles in India. Analysis of NFRA’s powers under th...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Goods and Services Tax : The Ministry of Finance reports the arrest of a firm's finance head for GST evasion worth Rs 88 crore. Learn about the case and it...
Income Tax : The Central Board of Direct Taxes ( CBDT) has directed re-opening of all cases under the search and seizure label, income-escapin...
Income Tax : Gujarat HC quashed a Section 148 notice, holding that a seized inquiry register without a live nexus to the assessee cannot justif...
Income Tax : Gujarat HC quashed Section 148 reassessment as it was issued beyond Section 149 limitation, holding Section 152(3) applies to sear...
Income Tax : ITAT held reassessment under Sections 147/148 invalid because it was based on a pre-1 April 2021 third-party search, requiring pro...
Income Tax : ITAT Mumbai quashed a Section 148 notice issued after the limitation under the first proviso to Section 149, holding the reassessm...
Income Tax : ITAT Hyderabad held that a penalty notice under Section 271AAB must clearly specify the applicable statutory limb and charge. As t...
Income Tax : Read the order issued by the Central Board of Direct Taxes (CBDT), Ministry of Finance, specifying the scope of the e-Appeals Sche...
Income Tax : Dispute arose between the Department and the assessees with regard to adjustment of such seized/requisitioned cash against advance...
ITAT Ahmedabad held that AO failed to prove that material seized, during the course of search in case of third party, belong to the assessee. Hence, invocation of proceedings u/s. 153C of the Income tax Act is against the provisions of law
Explore the ITAT Mumbai decision in Ramavatar Mandavewala vs. JT.CIT regarding the applicability of penalty under Section 271AAB for undisclosed cash. Detailed analysis and conclusion.
Jahar Singh Gurjar Vs State of M.P. (Madhya Pradesh High Court) It is the case where petitioner as a complainant is seeking refund of his part of looted amount on interim custody from the trial Court. Total amount, which was recovered allegedly from the possession of the accused, was Rs.53,16000/- whereas the petitioner is seeking […]
Set off of loss in search cases – Amendment in the provisions of section 79A of the Income Tax Act, 1961 Chapter VI of the Act deals with aggregation of income and set off or carry forward of loss. In Sections 70-80 of the Act there are specific provisions relating to set off or carry […]
Shiva Cement Limited Vs Director of Income Tax (Inv.) (Orissa High Court) It is trite that under Section 132(1) of the Act, the jurisdictional facts should be established by the Department to justify a search authorization. But there cannot be any presumption that there is no such information available with the Department. The observations by […]
Harshvardhan Chhajed & Others V. DGIT & Others (Rajasthan High Court) Seizure under Income Tax has to be conducted after due care and caution. Merely on account of reasons to suspect, seizure of goods ought not to be undertaken. In fact the investigation wing has to show reason to believe that a person is carrying […]
Authority and power to conduct search and seizure operations is strident and caustic power authorized by law to be taken recourse to when the conditions mentioned under different clauses of Section 132(1) of the Act are satisfied.
Under the Act, the provisions related to income escaping assessment provide that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may assess or reassess or recompute the total income for such year under section 147 of the Act by issuing a […]
Explore the complexities of Section 131(1A) notices after the conclusion of an Income Tax Search & Seizure. Unravel the controversy surrounding post-search inquiries, the scope of powers, and legal paradoxes. Delve into conflicting court decisions, emphasizing the need for clarity in this nuanced area of Income Tax law.
Explore the legality of converting Income Tax surveys (Section 133A) into full-fledged Search & Seizure actions (Section 132) under the Income Tax Act 1961. Uncover governing laws, judicial pronouncements, and expert insights on this complex issue.
