Income Tax - Explore the implications of taxation under section 115BBE, including misuse of sections 68 to 69D, consequences of high tax rates, and relevant judicial precedents....
Income Tax - Sufficient time is required to comply with the notice issued u/s 143(2) of the Act and valid notice u/s 142(1)(ii), 142(1)(iii) has to be issued compulsorily after 143(2) notice The Ld. Assessing officer is not justified to make assessment as he has issued notice u/s 143(2) of the Act but time period given in the […]...
Income Tax - 1. What is Sec 143(2)? Where a return has been furnished u/s 139, or in response to a notice 142(1), the Assessing Officer (AO) or the prescribed income-tax (IT) authority, as the case may be, if, considers it necessary or expedient: ♦ to ensure that the assessee has not understated the income or has not […]...
Income Tax - On commencement of regular assessment proceedings u/s 143(2) of Act , there is no need for intimation u/s 143(1)(a)(i) Where the summary procedure under section 143(1)(a)(i) has been adopted, there is scope available for the revenue to make assessment u/s 143(3) of the Act. But the converse is not available. A regular assessment proceedin...
Income Tax - Notice U/S 143(2) Not Valid if Return Filed in Response to Notice U/S 148 Not Recognized by AO. Draft Written Submissions Written submission before the Hon’ble CIT(Appeals), XXXX bad in the case of Sh. XXXXXXXXXXX, XXXXXXX for the A.Yr. 2011-12. The assesse is an individual. He is doing business of trading of building material durin...
Income Tax - The Supreme Court has ruled that it is mandatory for the Income Tax Department to issue notice within the prescribed time limit of one year where the assessing officer in repudiation of the block return filed by the assessee proceeds for an inquiry....
Metso Outotec OYJ Vs DCIT (ITAT Kolkata) - ITAT Kolkata held that the assessee has no permanent establishment in India and these services were also rendered outside India but the services has been used in India and, therefore, it is taxable in India....
India Medtronic Private Limited Vs ADDL/JT/DY/CIT/ITO (ITAT Mumbai) - ITAT Mumbai held that entire assessment order passed in the case of non-existing entity is null and void and hence is liable to be quashed....
Fox International Channels (US) Inc Vs DCIT (ITAT Mumbai) - ITAT Mumbai held that Broadcasting Reproduction Right is not covered under the definition of Royalty under the Income Tax Act as well as Article 12 of the India-USA DTAA....
D. C. Polyester Limited Vs DCIT (ITAT Mumbai) - In a significant decision, ITAT Mumbai rules in favor of D.C. Polyester Ltd., stating that penalties under Section 271(1)(c) of the Income Tax Act cannot be imposed for incorrect income head treatment....
ACIT Vs Karsan Bhai Khimabhai Patel (ITAT Delhi) - Analysis of ACIT Vs Karsan Bhai Khimabhai Patel case where AO's lack of independent inquiry invalidated unexplained investment addition. Learn more about ruling....
Notification No. 25/2021-Income-tax [S.O. 1437(E).] - (31/03/2021) - CBDT hereby authorises the Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (NaFAC) having her / his headquarters at Delhi, to act as the ‘Prescribed Income-tax Authority’ for the purpose of sub-section (2) of section 143 of the Act, in respect of returns furnished under se...
Notification No. F.No. 225/157/2017/ITA.II-Income Tax - (23/06/2017) - The three formats of notice(s) are: Limited Scrutiny (Computer Aided Scrutiny Selection}, Complete Scrutiny (Computer Aided Scrutiny Selection), Compulsory Manual Scrutiny The revised format of 143(2) notice(s) with a note on benefits & Procedures of' E-Proceeding' facility are enclosed for infor...
F.No. 225/162/2016/ITA.II - (11/07/2016) - Central Board of Direct Taxes, with approval of the Revenue Secretary, has decided to modify notice under section 143(2) of the Income-tax Act. Henceforth, there shall be three formats of the said notice namely: Limited Scrutiny, Complete Scrutiny, Manual Scrutiny...
Instruction No.1/2015 - (13/01/2015) - Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012, section 143(1D) was introduced in income tax act which prohibited processing of income tax returns in case notice u/s 143(2) has been issued (i.e. scrutiny cases). Ambi...
Instruction No. 18/2013 - (17/12/2013) - Several instances have come to the notice of the Board Where due to certain technical or other reasons (which inter-alia included wrong migration of PAN and delayed release of returns by the Centralized Processing Cell to the jurisdictional authorities), intimation in refund cases could not be sent ...
Metso Outotec OYJ Vs DCIT (ITAT Kolkata) -
India Medtronic Private Limited Vs ADDL/JT/DY/CIT/ITO (ITAT Mumbai) -
Fox International Channels (US) Inc Vs DCIT (ITAT Mumbai) -
D. C. Polyester Limited Vs DCIT (ITAT Mumbai) -
ACIT Vs Karsan Bhai Khimabhai Patel (ITAT Delhi) -
Talshibhai B Narola Vs ITO (ITAT Ahmedabad) -
Undercarriage and Tractor Parts Pvt. Ltd. Vs Dispute Resolution Panel (Bombay High Court) -
Poornima Ramesh Shenoy Vs ITO (ITAT Mumbai) -
Ashraf Chitalwala Vs DCIT (Bombay High Court) -
ITO Vs Jatin Kanubhai Kotadia (ITAT Ahmedabad) -