Income Tax : An analysis of Section 142 of the Income-tax Act, 1961, detailing the powers of the Assessing Officer, statutory limitations, and ...
Income Tax : Discover pivotal case of Uttrakhand Poorv Sainik Kalyan Nigam Ltd. vs ITO, where ITAT Dehradun established that Section 142(1) and...
Income Tax : Finance Act, 2023 introduced amendments to Section 142(2A) of the Income Tax Act, 1961. This article provides an overview and anal...
Income Tax : Understand the implications of Income Tax Act Sections 142 and 142A, covering notices to submit returns, making inquiries, and pro...
Income Tax : Explore the nuances of Income Tax Notices under Section 142(1) of the Income Tax Act, 1961. Learn when these notices are issued, h...
Income Tax : Oracle India has approached Delhi High Court challenging the order of the government which had asked it to undertake a special aud...
Income Tax : Sub-sections (2A) to (2D) of section 142 deal with power of Assessing Officer to order a special audit. Such power is required to ...
Income Tax : ITAT Mumbai held that the Assessing Officer had conducted detailed enquiries on depreciation claimed on concession rights during c...
Income Tax : The Bombay High Court held that reassessment beyond four years was invalid because the assessee had fully and truly disclosed all ...
Income Tax : ITAT Bangalore held that once a search under Section 132 was conducted, the assessment for the relevant year had to proceed under ...
Income Tax : The Tribunal condoned the delayed appeal filing after finding sufficient cause and allowed the matter to proceed. It also clarifie...
Income Tax : The ITAT Delhi ruled that the CIT(A) cannot reclassify an addition under a different provision of the Income-tax Act without issui...
Income Tax : CBDT hereby authorises the Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (NaFAC) having her / his headqua...
Income Tax : It has also been brought to notice of the Board that in some cases, the address of transacting parties given in AIRs is not comple...
The ITAT set aside the entire reassessment, holding that a valid notice is a mandatory jurisdictional step, citing the Supreme Court’s Hotel Blue Moon ruling. Since the two notices issued were defective (one premature, the other beyond the statutory time limit), the assessment was deemed illegal.
Reassessment order passed under Section 147/143(3) was quashed on the ground that no notice under Section 143(2) was issued after the assessee filed the return in response to notice under Section 148, rendering the assessment void ab initio.
Late Mahabir Prasad (through L/H Mrs. Parul Kansaria) Vs DCIT (ITAT Bangalore) ITAT Bangalore Restricts Additions in Search Assessment – Statement Alone Not Incriminating- No Addition in Concluded Years Without Incriminating Material- Unaccounted Sales – Only GP Taxable, Not Entire Turnover Bangalore ITAT dealt with additions arising out of search proceedings in the A-One Steel […]
The Income Tax Appellate Tribunal (ITAT) in Kolkata has ruled in favor of Surya Agro Products Pvt. Ltd., invalidating a tax assessment for the Assessment Year 2012-13.
CESTAT Delhi held that in case common input services are used for providing both taxable and exempted services, proportionate amount of CENVAT credit must be reversed as per rule 6(3) of Cenvat Credit Rules, 2004. Accordingly, demand confirmed to that extent.
CESTAT Mumbai held that appellant is entitled for refund of credit admissible on account of payment of Countervailing Duty [CVD] and Special Additional Duty [SAD] paid after 01.07.2017 [paid after Central Goods and Services Tax].
An analysis of Section 142 of the Income-tax Act, 1961, detailing the powers of the Assessing Officer, statutory limitations, and remedies available to taxpayers.
The Allahabad High Court disposed of multiple petitions from an individual challenging summoning orders in cheque bounce cases under the Negotiable Instruments Act.
ITAT Bangalore quashes assessments against Blueline Foods, ruling that a survey is not a valid search and that a panchanama in the company’s name is required.
The ITAT Delhi has quashed a reassessment notice, ruling it was invalid for being issued for verification and based on a borrowed belief without tangible material.
