Sarita Gupta Vs PCIT (ITAT Delhi) -
ITAT Delhi while quashing the revisionary order passed by the Ld. Pr.CIT held that, mere non-deposit in the capital gains scheme account cannot be the basis to deny deduction u/s 54/54F when the LTCG amount had duly been reinvested within the time allowed under 54(1) and that a hyper-technical/perfectionists point of view cannot the basis...
Learn about Section 147 to 153 Income Escaping Assessment and Reopening of Cases Under Income Tax Act, 1961. Get guidance on the procedure and legal rules applicable....
Katteri Kaderi Vs Assessment Unit Headed By Principle Chief Commissioner (Kerala High Court) -
The court concluded that there was no violation of natural justice, especially as the petitioner chose not to respond to any notices. The assessment order was deemed valid, and the writ petition was dismissed, with the petitioner retaining the right to explore other legal remedies available....
General Lifescience Distributors Vs CIT (ITAT Mumbai) -
ITAT Mumbai held that delay of 33 months in filing appeal before Commissioner condoned on account of reasonable cause and outbreak of Covid-19. However, an amount of Rs. 51,000 directed to be deposited in the Prime Minister’s National Relief Fund (PMNRF)....
ITO Vs Jagdish R. Mookhey (ITAT Mumbai) -
ITAT Mumbai held that investment in NABARD Bonds beyond the specified time of six months cannot be considered for claiming exemption under the provisions of section 54EC of the Income Tax Act....
S. Uttam Chand Vs ACIT (Madras High Court) -
Madras High Court held that reopening of assessment u/s 148 of the Income Tax Act beyond the period of four years unjustified as all the particulars with regard to sale of agricultural land was disclosed before AO in full extent....
Shapoorji Pallonji Samalpatti Operator Services Private Limited Vs ACIT (Madras High Court) -
Learn how the Madras High Court set aside an Assessment Order dated 09.03.2022 under Section 147 r/w Section 144 of the Income Tax Act, 1961 for the Assessment Year 2013-14 for Shapoorji Pallonji Samalpatti Operator Services Pvt Ltd...
Filatex India Ltd Vs DCIT (Delhi High Court) -
Delhi HC grants stay on alleged time-barred Section 148 Income Tax notice for AY 2012-13. Get insights into legal aspects and implications of decision....
DCW Limited Vs ACIT (Bombay High Court) -
Bombay High Court held that AO is not entitled to commence proceedings for reassessment under section 147 of the Income Tax Act based on change of opinion as material facts are fully and truly disclosed....
Ickon Projects Vs ITO (ITAT Bangalore) -
ITAT Bangalore held that initiation of proceedings against the person other than the searched person under section 148, instead of section 153C, of the Income Tax Act is without any jurisdiction and hence held liable to be set aside....