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 : Madras High Court held that capital profit on the sale of the Fixed Assets of the Company cannot be taken directly to the Reserves...
Income Tax : A taxpayer could submit a revised return u/s 139(5) only when it discovered a bona fide omission or incorrect statement in the ori...
Corporate Law : Supreme Court held that negligence on part of bank in presentation of cheque within the validity period of cheque leads to ‘defi...
Income Tax : Smt. Subbalakshmi Kurada Vs DCIT (ITAT Bangalore) In , the ITAT Bangalore deleted penalty under Section 271(1)(c), holding that me...
Income Tax : The Tribunal ruled that failure to issue prior notice before making adjustments violates the mandatory provisions of Section 143(1...
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...
Delhi High Court held that income tax authorities cannot retain seized cash once time period for framing an assessment under section 153A of the Income Tax Act has expired and there is no outstanding demand. Accordingly, petition disposed of.
Among the documents seized contained information pertaining to the Assessee and AO recorded his satisfaction that those documents have bearing on the determination of total income of the Assessee.
Delhi High Court held that validity of reassessment under section 148 of the Income Tax Act has to be determined based on original reasons disclosed to the assessee. Such reasons cannot be improved upon subsequently.
Assessee had given reasons that as per the previous counsel, late Shri R.R. Jain (C.A.) had given advice no separate appeal against the order passed u/s 263 was filed before ITAT.
Orissa HC addresses challenges to the initiation of tax assessment and the retrospective effect of the amendment to Section 132(1) of the Income Tax Act.
Thereafter, a detailed reply was issued by the petitioner, through its counsel, on 18.08.2021. According to the petitioner, no order was communicated by the first and second respondents after the above mentioned reply was issued.
CESTAT Allahabad held that claim of cash refund of service tax paid under RCM not admissible since CENVAT Credit was never claimed and transitional provisions under GST was not complied.
Punjab & Haryana High Court affirms statutory provisions under Sections 148 and 144B prevail over administrative instructions in reassessment notice disputes.
ITAT Nagpur held that the addition made under section 69A of the Income Tax Act towards unexplained money is liable to be quashed since the nature and source of deposit is clearly established.
ITAT Chennai held that corrigendum issued by AO to rectify the mistake made while issuing original assessment order is legal and valid. Accordingly, matter remanded back to CIT(A) for adjudication on merits.
