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...
The AO completed assessment under Section 144 after alleged non-compliance, but failed to prove valid service of notice under Section 148. The Tribunal ruled that absence of jurisdiction renders the entire proceedings null.
The Tribunal ruled that reassessment completed after the taxpayer s death without issuing notice to legal heirs is void ab initio. Legal heirs are not obligated to inform the Revenue about the death.
The ruling clarifies that reopening for AY 2016–17 must comply with the correct sanctioning authority requirement. Non-compliance invalidates the notice and all consequential actions under the Act.
The Tribunal observed that when a foundational jurisdictional issue exists, dismissal on limitation without examining merits is unsustainable. The reassessment and all consequential penalties were accordingly quashed.
The ITAT Kolkata held that where assessment is completed under Section 143(3), alleged earlier non-compliance with notices stands impliedly condoned. Penalty under Section 271(1)(b) was therefore unsustainable and deleted.
The Tribunal confirmed that once identity, source, and movement of funds are established through records, treating the investment as unexplained is unjustified. Revenues appeal was dismissed.
The ITAT held that absence of a valid notice under Section 143(2) is a jurisdictional defect. Since the notice was not properly issued by the competent officer, the entire assessment was declared void ab initio.
The Tribunal held that Section 14A cannot be invoked when no exempt income is earned during the year. It deleted both the additional disallowance and the assessee’s own mistaken disallowance.
The Tribunal held that statutory jurisdiction must be strictly followed in income-tax proceedings. In absence of proof of transfer to the assessing ward, the assessment was declared invalid and set aside.
The Tribunal held that failure to provide opportunity to cross-examine foreign information sources amounted to violation of natural justice. Additions based on unverified documents were therefore invalid.
