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 dispute involved alleged non-compliance with mandatory faceless assessment procedure rendering the order non est. The ITAT held that remanding without ruling on section 144B(9) violations is impermissible.
The issue was unexplained partner capital contribution. The ITAT held that clear proof of funding by the NRI husband with sufficient creditworthiness bars addition under section 69A.
The tribunal held that interest earned on deposits with Cooperative Banks qualifies for deduction under Section 80P(2)(d), overturning the earlier disallowance.
The issue was whether an ex-parte reassessment for unexplained cash deposits could stand despite total non-compliance. The ITAT held that substantive justice required one final opportunity and remanded the case for fresh adjudication.
The Tribunal held that cash deposits cannot be treated as unexplained income unless books of account are formally rejected under section 145(3).
The Tribunal ruled that appellate authorities must decide appeals on merits, even if the taxpayer does not appear, reinforcing the mandate of Section 250(6).
The ITAT held that a reassessment notice dispatched after the new law took effect must follow Section 148A, and failure to do so invalidates the entire proceedings.
The ITAT held that appeals must be filed before the correct jurisdictional bench. An appeal filed before the wrong Tribunal is liable to dismissal at the threshold.
The Tribunal deleted a penalty imposed for alleged non-maintenance of accounts. It held that audited books, even if defective, do not attract penalty under Section 271A.
ITAT Delhi overturned a ₹2.61 crore addition under sections 144/147, noting notices were sent to the wrong address and the illiterate assessee was deprived of proper hearing.
