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 ITAT Delhi quashes a tax assessment against Dazzle Developers P. Ltd., ruling that an assessment on a dissolved company is legally invalid.
The ITAT Pune has remitted the case of Mahesh Padmnabhrao Kashikar back to the CIT(A), allowing the individual a fresh chance to explain cash deposits in a joint bank account after previously failing to cooperate.
The Income-tax Appellate Tribunal (ITAT) in Chandigarh has ruled in favor of an assessee, deleting a significant cash deposit addition made by the Assessing Officer.
ITAT Pune held that ex-parte order sustaining addition under section 69A of the Income Tax Act on account of non-compliance on the part of the assessee not justified since relevant notice and order were served to old e-mail of the assessee. Accordingly, matter restored back to the file of AO.
Read about ITAT Cochin’s decision in Prabheesh Nair vs. ITO, where court set aside a tax appeal dismissal and mandated a new hearing, underscoring legal requirement for appellate authorities to pass reasoned orders.
The ITAT Ahmedabad has remanded a capital gains tax case for reconsideration, citing a need for proper verification of the property’s sale consideration and stamp duty valuation.
ITAT Bangalore condones a 349-day delay in a tax appeal, citing the assessee’s illiteracy and issues with his former auditor’s email. The case is sent back for fresh assessment.
ITAT Pune has granted a fresh hearing to an assessee, citing notices sent to a wrong email ID, allowing him to explain cash deposits and property purchases.
ITAT Bangalore deletes additions against Mohammed Ibrahim Mohideen, ruling that uncorroborated loose slips and statements are not sufficient evidence for assessments.
The Allahabad High Court ruled that when a best judgment assessment is conducted, the assessee has the burden to prove that the tax authorities’ findings are perverse.
