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section 143(2)

Latest Articles


SC Disallows Bad Debt Deduction for Khyati Realtors Pvt Ltd

Income Tax : Supreme Court disallows ₹10 crore bad debt deduction for Khyati Realtors Pvt Ltd, ruling it as capital expenditure, not eligible...

October 23, 2024 6816 Views 0 comment Print

Rectification, Assessment, and Appeal under Income Act, 1961

Income Tax : Learn about rectifying mistakes in income tax orders under Section 154, including types of rectifiable orders, responsible authori...

September 2, 2024 1167 Views 0 comment Print

FAQs on Faceless Income-tax Proceedings

Income Tax : Learn about the Faceless Income-Tax Proceedings, including e-Proceedings features, differences from manual assessments, and how to...

August 23, 2024 1161 Views 1 comment Print

Notice u/s 143(2) for Income tax scrutiny assessment

Income Tax : Understand the implications of receiving a notice under Section 143(2) of the Income Tax Act. Learn how to respond, time limits, a...

July 8, 2024 28179 Views 0 comment Print

Habit of Online Gaming May Invite Income Tax Scrutiny Notice | Section 143(2) of Income Tax Act, 1961

Income Tax : Learn how online gaming habits can lead to income tax scrutiny notices under Section 143(2) of the Income Tax Act, 1961. Understan...

March 22, 2024 6762 Views 0 comment Print


Latest News


ITGOA Letter to CBDT Chairman on issuance of notices u/s 143(2)

Income Tax : Read how Income Tax Gazetted Officers’ Association addresses last-minute case reallocations affecting timely issuance of notices...

July 10, 2024 7884 Views 0 comment Print

Notice u/s. 143(2) should be issued within one year from the date of filing of block return if A.O. rejects the same

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...

February 5, 2010 3527 Views 0 comment Print


Latest Judiciary


ITAT Mumbai Invalidates section 148 Reassessment Due to Wrong Approval

Income Tax : ITAT Mumbai quashed reassessment under Section 148 due to improper approval process, emphasizing the need for compliance with Sect...

November 2, 2024 1749 Views 0 comment Print

Assessment to be made under Section 144, not 143(3), for defective returns: ITAT Delhi

Income Tax : ITAT Delhi held that assessments for defective returns must be made under Section 144, invalidating prior orders issued under Sect...

November 2, 2024 603 Views 0 comment Print

Unsold flats held as stock-in-trade should be treated as business stock and not Income from House Property

Income Tax : Assessee was in the business of construction and in developing housing complexes i.e to construct the property and sell it therefo...

October 29, 2024 753 Views 0 comment Print

Assessment order passed without serving notice under section 143(2) is liable to be quashed

Income Tax : ITAT Mumbai held that passing of assessment order without mandatory service of notice under section 143(2) of the Income Tax Act i...

October 29, 2024 3408 Views 0 comment Print

CBDT notified ACIT/ DCIT as prescribed authority for issuance of notice u/s. 143(2): Delhi HC

Income Tax : Delhi High Court held that CBDT vide notification dated 12.05.2022 and 28.05.2022 has authorised ACIT / DCIT to act as prescribed ...

October 29, 2024 498 Views 0 comment Print


Latest Notifications


Guidelines for Compulsory Income Tax Scrutiny for FY 2024-25

Income Tax : Understand the guidelines set by the Indian Ministry of Finance for the compulsory selection of returns for complete scrutiny duri...

May 3, 2024 26433 Views 0 comment Print

CBDT notifies Prescribed Income-tax Authority’ under Section 143(2) for Returns

Income Tax : CBDT hereby authorises the Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (NaFAC) having her / his headqua...

March 31, 2021 4965 Views 0 comment Print

Revised format of Issue of notices U/s. 143(2) of Income-tax Act, 1961

Income Tax : The three formats of notice(s) are: Limited Scrutiny (Computer Aided Scrutiny Selection}, Complete Scrutiny (Computer Aided Scruti...

June 23, 2017 23976 Views 0 comment Print

CBDT revises format of Issue of Income Tax notices U/s. 143(2)

Income Tax : Central Board of Direct Taxes, with approval of the Revenue Secretary, has decided to modify notice under section 143(2) of the In...

July 11, 2016 52686 Views 3 comments Print

No processing of returns for I-T refund if selected for Scrutiny

Income Tax : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...

January 13, 2015 14040 Views 4 comments Print


Stamp duty value on date of agreement to be considered when date of agreement and registration is different

October 25, 2024 1107 Views 0 comment Print

ITAT Kolkata held that when date of agreement and date of registration are not same, then, stamp duty value on the date of agreement should be considered. Accordingly, since difference is less than 10%, hence addition u/s. 56(2)(vii) unjustified.

Addition merely on the basis of statement without corroborating material unsustainable: ITAT Delhi

October 24, 2024 333 Views 0 comment Print

ITAT Delhi held that addition under section 69A r.w.s. cannot be sustained merely on the basis of the statement. There has to be some material corroborating the content of the statements. Accordingly, appeal allowed and addition deleted.

Prescribed income-tax authority for issuance of notice u/s. 143(2) includes ACIT/ DCIT: Delhi HC

October 24, 2024 411 Views 0 comment Print

Delhi High Court held that the Assistant Commissioner of Income Tax/ Deputy Commissioner of Income Tax are prescribed income-tax authority for the purpose of issuance of notice u/s. 143(2) of the Income Tax Act.

Addition u/s. 69A unjustified as source of cash deposits duly explained: ITAT Visakhapatnam

October 24, 2024 201 Views 0 comment Print

Held that the cash deposits are made out of the sale proceeds of the assessee and in my opinion the assessee has properly explained the source of the cash deposits along with documentary evidence.

View taken by AO cannot be set aside or deferred as per provisions of section 263: ITAT Ahmedabad

October 24, 2024 201 Views 0 comment Print

ITAT Ahmedabad held that invocation of revisionary proceedings under section 263 of the Income Tax Act merely taking second opinion unjustified. Further, view taken by AO cannot be set aside or deferred as per provisions of section 263.

Allotment letter given by developer construed as agreement of purchase: ITAT Kolkata

October 23, 2024 396 Views 0 comment Print

ITAT Kolkata held that allotment letter given by the developer to the assessee way back in 2010 would be construed as an agreement of purchase between the developer and the assessee. Thus, addition u/s. 56(2)(vii)(b) of the Income Tax Act not survived.

Issue of Section 80IA(4) Deduction for Sub-Contracted Project Profits Restored to AO

October 23, 2024 315 Views 0 comment Print

AO without going through the terms and conditions of each of the project that had been undertaken by assessee during the year had come to the conclusion that assessee was a works contractor and not a developer.

No reassessment on basis of invalid notice u/s 148, deleted additions of 6.93 Crores

October 23, 2024 1947 Views 0 comment Print

Reassessment initiated under an invalid notice issued under Section 148 as there was no new material with AO after four years that the assessee had escaped assessment, therefore, additions amounting to ₹6.93 crores was deleted.

ACIT/DCIT prescribed authority to issue Section 143(2) notice: Delhi HC

October 23, 2024 453 Views 0 comment Print

It is also contended that even if it is assumed that the authority issuing the notice dated 23.06.2024 is a prescribed income-tax authority, he cannot issue a notice but can merely serve a notice.

SC Disallows Bad Debt Deduction for Khyati Realtors Pvt Ltd

October 23, 2024 6816 Views 0 comment Print

Supreme Court disallows ₹10 crore bad debt deduction for Khyati Realtors Pvt Ltd, ruling it as capital expenditure, not eligible for deduction under Section 36(1)(vii).

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