Income Tax : The article explains remedies available after adverse tax orders under scrutiny and reassessment. The key takeaway is that choosin...
Income Tax : The Court clarified that mere pendency of information exchange requests under DTAA cannot justify continuing a Look Out Circular. ...
Income Tax : A surge in Section 143(2) notices was triggered by the June 2025 limitation deadline. This explains why cases were picked and how ...
Income Tax : The Tribunal ruled that penalty under Section 271A cannot be levied merely because books were rejected and income was estimated. S...
Income Tax : The ITAT held that an assessment completed before receiving the DVO report under section 50C(2) is invalid. All additions and disa...
Income Tax : Delhi ITAT allows Sanco Holding, a Norwegian company, to compute income from bareboat charter of seismic vessels under Article 21(...
Income Tax : It has been observed that in many cases an assessee may wish to make a claim which was not made in the return of income filed unde...
Income Tax : We have attached a file in excel format. The file contains the format of various details which normally assessing officer asks As...
Income Tax : Tribunal observed that the Assessing Officer failed to establish any mismatch in stock, sales, or accounting records before making...
Income Tax : ITAT Hyderabad held that constituent members of a JV or Consortium can claim deduction under Section 80IA(4) when they actually ex...
Income Tax : The Tribunal found that full payment, TDS deduction, and transfer of possession established completion of the transaction for capi...
Income Tax : ITAT Rajkot held that cash deposits made during demonetization were fully supported by audited books of account, cash books, and b...
Income Tax : The Hyderabad ITAT held that purchases cannot be treated as bogus merely because the supplier failed to respond to a notice under ...
Income Tax : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
The Bombay High Court quashed reassessment proceedings for AY 2018-19 after finding that the notice under Section 148 was issued in the name of an entity that had already merged and ceased to exist.
The Bombay High Court held that the reassessment notice under Section 148 was issued after the surviving limitation period expired. As a result, the entire reassessment proceedings and assessment order were quashed.
ITAT Delhi held that reassessment proceedings under Section 147 cannot be initiated while scrutiny assessment under Section 143(2) is still pending. Such parallel proceedings are without jurisdiction and render the entire reassessment order invalid.
The Court found that the Assessing Officer had knowledge of the amalgamation before issuing the assessment orders. Passing orders in the name of dissolved entities was held to be without jurisdiction.
ITAT Mumbai held that marketing and advertisement expenses incurred to promote products on an online retail platform are revenue in nature since they relate to expansion of an existing business.
The Tribunal ruled that both conditions for Section 263 revision must exist simultaneously. Since no exempt income was earned, the assessment order was neither erroneous nor prejudicial.
ITAT Chennai held that assessee is needs to establish the expenditure which is unreasonably high. Thus, additional evidence filed for expense pertaining to ‘shortage and quality cuts’ needs complete verification. Accordingly, matter remanded back to AO.
Hriday Vs ITO (Exemption) (Delhi High Court) The Income Tax Appellate Tribunal (ITAT), Delhi Bench, decided a batch of five appeals filed by a charitable society registered under Section 12A of the Income-tax Act, 1961 for Assessment Years (AYs) 2010–11 to 2014–15. The appeals challenged a common order of the Commissioner of Income Tax (Appeals) […]
The Tribunal condoned a 161-day delay in filing the appeal after accepting medical evidence showing the assessee suffered an accident and dengue fever. The ruling reiterates that courts should adopt a liberal and justice-oriented approach in condonation matters.
The tribunal held that exemption for a statutory housing authority depends on whether housing units were sold above cost. The case was remanded to examine if charges exceeded cost plus nominal mark-up.
