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...
ITAT Jaipur held that addition made on the basis of documents found from the third party without providing any opportunity of cross-examination is liable to be deleted on the ground of violation of principles of natural justice.
The Tribunal held that the appellate authority failed to pass a reasoned order under Section 250(6) and remanded the case for fresh consideration, directing that proper opportunity be given to the assessee.
The Tribunal held that cash deposits during demonetisation were supported by genuine cash sales of damaged rice, verified through stock records, GST filings, and insurance assessments. The AO’s allegation of bogus sales under Section 68 was rejected for lack of evidence. The ruling confirms that suspicion cannot override documented business transactions.
The Tribunal held that reassessment under Sections 147/143(3) is invalid without a Section 143(2) notice. It ruled that using the return filed under Section 148 triggers the mandatory requirement.
Tribunal held that assessment was void because no notice under Section 143(2) was issued, confirming that such omission cannot be cured and invalidates entire assessment.
ITAT Bangalore set aside reassessment orders for AY 2015-16 to 2017-18, ruling that failure to issue mandatory notice under section 143(2) of the Income Tax Act invalidates the proceedings.
ITAT Chandigarh ruled that the CIT(A) is empowered to set aside and remand assessments made under Section 144 to the AO under Section 251(1)(a) of the Income Tax Act.
Delhi High Court held that demand notice issued by Competition Commission of India being served during subsistence of the stay is unsustainable and liable to be quashed. Accordingly, the writ petition is disposed of.
ITAT Delhi ruled that additions under section 153A cannot be made without incriminating material specific to the assessee. All unbooked commission additions for AYs 2012-13 to 2016-17 were deleted.
ITAT rules that assessments under section 144 without proper section 148 notice are void when returns are filed late, affirming taxpayer procedural rights.
