Income Tax : SC upheld Section 147 reassessment, holding a Section 143(1) intimation is not an assessment and reopening requires a bona fide re...
Income Tax : Understand the statutory time limits for issuing income-tax notices and completing assessments under the Income-tax Act. The guide...
Income Tax : Learn the updated provisions governing rectification, assessments, reassessments, and appeals under the Income-tax Act. This guide...
Income Tax : The Supreme Court has remitted reassessment cases for fresh consideration after the retrospective insertion of Section 147A, leavi...
Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : Discover how Finance Act 2021 revamped assessment and reassessment procedures under Income-tax Act, impacting notices, time limits...
Income Tax : Income Tax Gazetted Officers’ Association requested CBDT to issue Clarification in respect of the judgement of Hon’ble Supreme...
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 : ITAT Mumbai upheld taxation of only 25% profit on alleged on-money receipts, rejected Section 69C addition of entire amount and su...
Income Tax : Chennai ITAT restored Section 12AA registration, holding uncorroborated capitation fee allegations alone cannot justify cancellati...
Income Tax : ITAT Surat dismissed Revenue’s appeal, upholding deletion of Section 10AA addition and holding no other issue could be added in ...
Income Tax : ITAT Cochin quashed Section 148 reassessment for AY 2015-16, holding the notice time-barred under Section 149 despite Section 148A...
Income Tax : ITAT Raipur deleted a Section 68 addition, holding that genuine share transactions cannot be treated as bogus without evidence lin...
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...
Excise Duty : Notification No. 29/2024-Central Excise rescinds six 2022 excise notifications in the public interest, effective immediately. Deta...
Income Tax : Learn how to initiate proceedings under section 147 of the IT Act in e-Verification cases. Detailed instructions for Assessing Off...
Income Tax : Explore e-Verification Instruction No. 2 of 2024 from the Directorate of Income Tax (Systems). Detailed guidelines for AOs under I...
Income Tax : Supreme Court in the matter of Shri Ashish Agarwal, several representations were received asking for time-barring date of such cas...
ITAT Mumbai upheld taxation of only 25% profit on alleged on-money receipts, rejected Section 69C addition of entire amount and sustained reassessment.
Chennai ITAT restored Section 12AA registration, holding uncorroborated capitation fee allegations alone cannot justify cancellation of a charitable trust.
ITAT Surat dismissed Revenue’s appeal, upholding deletion of Section 10AA addition and holding no other issue could be added in reassessment.
ITAT Cochin quashed Section 148 reassessment for AY 2015-16, holding the notice time-barred under Section 149 despite Section 148A proceedings.
ITAT Raipur deleted a Section 68 addition, holding that genuine share transactions cannot be treated as bogus without evidence linking the assessee to price rigging.
ITAT Raipur held that CIT(A) must first decide the validity of reassessment proceedings before remanding the matter to the Assessing Officer.
ITAT Hyderabad remanded a Section 69A addition, holding that the AO must verify the sale agreement and supporting evidence instead of relying only on the buyer’s denial.
ITAT Kolkata upheld quashing of reassessment as notice under Sections 148/143(2) was issued by a non-jurisdictional Assessing Officer.
Mumbai ITAT held only 1% profit on unaccounted sales was taxable and deleted additions relating to salary, cash, foreign currency and gold coin.
Chennai ITAT condoned a 59-day delay, set aside the appellate order and remanded verification of the rural agricultural land claim and capital gains issue.
