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...
ITAT Bangalore held that passing of assessment order without issuance of notice u/s. 143(2) of the Income Tax Act is a fatal one and it cannot also be cured u/s. 292B of the Income Tax Act.
Read the full text of the ITAT Mumbai order regarding violation of Section 143(1) of the IT Act and the final assessment passed within two days. Detailed analysis and conclusion included.
Rajasthan HC rules that using the Insight Portal for reopening income tax assessments under Section 148 is valid. Learn about Chaturbhuj Gattani vs. ITO case details.
ITAT Mumbai invalidates income tax assessment for a merged entity, emphasizing the legal principle against actions on non-existent entities.
Assessee was a commercial bank having its head office in France and had 8 branches in India. Assessee was involved in normal banking activities including financing of foreign trade and foreign exchange transaction
ITAT Ahmedabad rules against reopening of assessment for protective addition when based on assumptions, deleting the addition. Read the detailed analysis here.
Bombay High Court rules IT search under Section 132 invalid if authorization is based on irrelevant and unrelated material. Detailed case analysis inside.
Delhi High Court ruling: Assessing Officer cannot assume jurisdiction under Section 147 of Income Tax Act without proper grounds. Detailed analysis and judgment.
Read the Kerala High Court’s judgment on rectification of Form 26AS issued by a bank, directing the FAC to review the appeal promptly.
Learn about the recent Madras High Court decision in the case of Razack Trading Company vs. The Assistant Commissioner (ST) (FAC) regarding the applicability of interest on erroneous refunds under Section 50 of the CGST Act.
