Income Tax : Learn the updated provisions governing rectification, assessments, reassessments, and appeals under the Income-tax Act. This guide...
Income Tax : ITAT Mumbai held that penalty under Section 270A cannot be levied merely because income was estimated after rejection of books. Si...
Income Tax : The Income Tax Department explains how faceless assessments under Section 144B operate through the e-Filing portal without requiri...
Income Tax : The guide explains faceless assessments, appeals, penalties, rectification requests, and demand responses under the Income-tax Act...
Income Tax : Courts have held that non-compliance with mandatory procedures under Section 144B renders faceless assessment orders void. The rul...
Income Tax : In view of Indiscriminate notices by income Tax Department without allowing reasonable time it is requested to Finance Ministry an...
Income Tax : Lucknow CA Tax Practicioners Association has made a Representation to FM for Extension of Time Limit for Assessment cases time bar...
Income Tax : The Kerala High Court, today admitted a batch of Writ Petitions challenging the constitutional validity of the Faceless Assessment...
Income Tax : ITAT Mumbai remanded the case to examine whether Section 56(2)(x) applied based on the agreement date and to consider refund of ex...
Income Tax : ITAT Mumbai deleted a Section 69 addition after finding documentary evidence established joint ownership, source of funds, and ear...
Income Tax : ITAT Kolkata condoned appeal delay, set aside the CIT(A)'s order, and remanded the assessment for fresh adjudication after grantin...
Income Tax : ITAT Mumbai quashed a Section 148 notice issued after the limitation under the first proviso to Section 149, holding the reassessm...
Income Tax : The High Court held that an assessment order passed without issuing a show cause notice detailing the proposed additions violated ...
Income Tax : CBDT issues guidelines for IT verification under Section 144B(5), detailing circumstances for digital and physical checks, effecti...
Income Tax : In pursuance of sub-section (3) of section 144B of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby makes the fo...
Income Tax : Standard Operating Procedure (SOP) for Assessment Unit (AU), Verification Unit (VU), Technical Unit (TU) and Review Unit (RU) unde...
Income Tax : Roll out of first phase of changes in ITBA functionalities for Faceless Assessment due to amendments in Section 144B by Finance Ac...
Income Tax : National Faceless Penalty Centre, in accordance with the guidelines issued by the Board, may,–– (a) in a case where imposit...
The Bombay High Court quashed reassessment proceedings for AY 2018-19 after finding that the notice under Section 148 was issued in the name of an entity that had already merged and ceased to exist.
The Bombay High Court held that the reassessment notice under Section 148 was issued after the surviving limitation period expired. As a result, the entire reassessment proceedings and assessment order were quashed.
ITAT Hyderabad held that reassessment proceedings were invalid because the notice under Section 148 was issued by the jurisdictional officer rather than through the mandatory faceless system. The assessment order was quashed for lack of jurisdiction.
ITAT Mumbai held that marketing and advertisement expenses incurred to promote products on an online retail platform are revenue in nature since they relate to expansion of an existing business.
The Tribunal ruled that reassessment proceedings initiated against a dead person are void in law. A valid notice must be issued to the legal heirs under Section 159 before initiating reassessment.
The Tribunal ruled that cash deposits routed through a partners personal bank account were explained as firms business receipts. Without evidence of undisclosed sources, Section 69A addition cannot be made.
ITAT ruled that addition under Section 68 requires a fresh credit in the books during the relevant year. Where loans represent opening balances from earlier years, they cannot be treated as unexplained income.
The High Court set aside income tax assessments after holding that a specific written request for personal hearing cannot be rejected on technical grounds such as failure to activate a portal link. The ruling underscores that natural justice must be upheld in faceless proceedings.
ITAT Indore held that stamp duty valuation cannot be adopted without considering Section 50C(2)/(3). The matter was remanded for DVO reference and fresh computation.
Setting aside the assessment, the Court held that non-selection of a portal option cannot deprive an assessee of oral hearing. Denial of such opportunity amounted to violation of natural justice.
