Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
Income Tax : Section 145(3) allows rejection of books if accounts are unreliable or standards are not followed. The key takeaway is that specif...
Income Tax : The Tribunal held that cash deposits cannot be treated as unexplained income unless books of account are formally rejected under s...
Income Tax : Summary of statutory deadlines for issuing income tax notices (Sec 143, 147) and completing assessments, reassessments, and appeal...
Income Tax : Understand the three core processes of Indian Income Tax: Rectification of mistakes (Sec 154), the four types of Assessment (Summa...
Income Tax : Starting October 1, 2024, Commissioners (Appeals) will gain new powers to set aside and refer best judgment assessments back to As...
Income Tax : ITAT Pune held that the reassessment proceedings were invalid because the notice under Section 148 was approved by the Principal C...
Income Tax : ITAT held that interest earned by a co-operative credit society from deposits with a co-operative bank remained attributable to it...
Income Tax : Gujarat High Court held that rejection of a Vivad se Vishwas declaration was invalid because final assessment arose from survey pr...
Income Tax : The High Court set aside the assessment order, demand notice, and bank attachment after finding that the proceedings were complete...
Income Tax : The ITAT held that the Assessing Officer failed to produce any material establishing a connection between the assessee and the all...
Income Tax : ITAT Chandigarh held that ITO Ward-3(1), Chandigarh had no jurisdiction to issue notice to an NRI and hence consequently the asses...
Kerala High Court dismisses writ petition challenging assessment order under Section 147 of the IT Act, directing appellant to pursue statutory remedy. Full judgment analysis.
Once an appeal is lodged with CIT(A), the PCIT’s authority to revise assessment under Section 263 is circumscribed – Kathiravan Ananthalakshmi Vs ACIT (ITAT Chennai)
Read the full text of the ITAT Chennai order in ACIT vs. Prakash Ferrous Industries Pvt. Ltd. where the assessment order is rejected due to oversight and typographical error under section 143(3).
Explore the Supreme Court judgment on whether directors who resigned can be held liable for dishonored negotiable instruments. Understand the legal implications and ramifications.
In a recent ITAT Pune case, an assessee’s failure to prove the source of property investment leads to a call for reassessment. Read the full legal analysis and implications.
ITAT Ahmedabad sets aside re-assessment proceedings initiated after 4 years from the AY end, citing no new material for reassessment under Section 147 of the Income Tax Act.
Chennai ITAT finds revisionary authority’s exercise of jurisdiction under section 263 invalid when a larger issue is pending before CIT(A), upholding legal precedents.
Explore the ITAT Bangalore verdict on how the statutory deadline for filing returns affects eligibility for deductions under Section 80P, highlighting the case of Madhu Souharda Pathina Sahakari Niyamitha vs ITO.
In light of ongoing NCLT insolvency proceedings, ITAT Mumbai orders Jet Airways to contribute Rs 25,000 to the Prime Minister Relief Fund, emphasizing the importance of compliance.
Chandigarh ITAT allows additional evidence in assessments under section 144, ensuring fair taxpayer treatment and legal compliance.
