Income Tax : Courts have held that non-compliance with mandatory procedures under Section 144B renders faceless assessment orders void. The rul...
Income Tax : Budget 2026 introduces sweeping retrospective amendments affecting limitation, reassessment jurisdiction, DIN validity, and TPO ti...
Income Tax : The ITAT held that an assessment completed before receiving the DVO report under section 50C(2) is invalid. All additions and disa...
Income Tax : Overview of the Faceless Scheme for Income Tax: electronic assessments, appeals, penalties, and rectifications with no physical in...
Income Tax : Faceless Income-tax proceedings and e-assessments under Section 144B simplify taxpayer compliance. Use the e-filing portal for ele...
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 Indore held that appellate order violated principles of natural justice after finding that key hearing notices were sent to a...
Income Tax : The Hyderabad ITAT held that purchases cannot be treated as bogus merely because the supplier failed to respond to a notice under ...
Income Tax : Tribunal noted the assessee’s contention that only his share in jointly owned properties could be taxed instead of the entire tr...
Income Tax : Tribunal held that deduction for bad debts is allowable in the year in which the debts are actually written off in the books of ac...
Income Tax : Court upheld the validity of the Section 148 notice but set aside the assessment order after finding that notices were sent to an ...
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...
Parasnath Fuels Pvt. Ltd. Vs DCIT (ITAT Dehradun) Rule 29 Rescues Assessee- Loans Need Fresh Look: ITAT Admits New Evidence, Sends Rs.90 Lakh Addition Back to AO Assessee appealed against NFAC order dated 08.10.2024 sustaining addition of Rs.90,00,000/- u/s 68 r.w.s 115BBE towards unsecured loans from M/s Yogya Shippings Pvt. Ltd. (Rs.50 lakh) & M/s […]
The Tribunal condoned the delay and held that the appeal could not be dismissed in limine. CIT(A) must issue a reasoned order on merits under Section 250(6).
The Tribunal found the Final Assessment Order invalid as it was issued before the 30-day objection period under Section 144C expired. This violated the assessee’s procedural rights. All transfer pricing adjustments and tax demands linked to the order were deleted, partly allowing the appeal.
The Tribunal accepted that the delay arose from an inadvertent error by the assessee’s prior tax consultant during e-filing. It ruled that such a bona fide mistake should not deprive the taxpayer of statutory appellate remedies. All issues were remanded for fresh adjudication with proper opportunity.
Tribunal confirms that co-operative societies’ operational expenditures have business nexus with interest income; Section 57 deduction of Rs.62.57 lakh allowed.
The Tribunal allowed the appeal for statistical purposes, restoring the matter to the AO for verification of corporate credit card payments. The decision emphasizes that taxpayers must be provided a final opportunity to substantiate deposits and income before any additions are finalized. This safeguards procedural fairness in tax proceedings.
ITAT held that Section 69 cannot apply when the assessee is not proved to own the cash. Unrebutted affidavits established the source, and mere suspicion cannot justify an addition.
The Tribunal invalidated an assessment passed without awaiting the Departmental Valuation Officer report, holding that provisional assessments violate section 50C(2) and 143(3). The rectification under section 154 based on later material was also impermissible.
Reassessment notice issued beyond statutory time limit under Section 148 was invalid; Tribunal quashed proceedings for A.Y. 2013-14, emphasizing procedural compliance.
ITAT Pune held that the Section 263 revision was unsustainable as the AO conducted adequate scrutiny and expenses were recovered from associated enterprises. Expenditure classification did not make the assessment prejudicial to revenue.
