Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : A detailed look at how the Finance Act, 2021 reshaped Sections 147–151, introduced Section 148A, and reduced limitation periods ...
Income Tax : The Finance Bill, 2026 clarifies who can issue notices under sections 148 and 148A. It confirms that only jurisdictional Assessing...
Goods and Services Tax : The court held that once late fee is imposed for delayed annual return filing, a further general penalty is not permissible. Secti...
Income Tax : The issue was whether an assessment could be reopened after four years. The Court held that full disclosure by the taxpayer barred...
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 : The issue was deletion of additions on unsecured loans treated as unexplained cash credits. The tribunal upheld deletion, holding ...
Income Tax : The issue involved dismissal of appeal due to delay and non-appearance. The tribunal condoned the delay citing medical reasons and...
Income Tax : The issue was whether reassessment could be initiated after four years without fresh evidence. The court held such reopening inval...
Income Tax : The issue was whether reassessment notice issued without approval from the correct authority is valid. The tribunal held it invali...
Income Tax : The Court held that reassessment proceedings must be initiated within the statutory time limit. It found the notice issued after t...
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...
The Telangana High Court ruled that Section 148 notices for central charge cases must follow the faceless procedure under the Finance Act, 2021, quashing JAO-issued notices.
The Madras High Court ruled that Section 54F of the Income Tax Act can cover multiple residential units purchased from capital gains, reversing the ITAT’s single-flat restriction.
The Tribunal concluded that section 189 is only a machinery provision and cannot be invoked to assess alleged income arising long after a firm has ceased to exist. Since no evidence showed any business activity post-2012, the reopening for AY 2017-18 was invalid. The order quashing the reassessment also nullified the related addition and penalty.
The Tribunal ruled that a cess deduction claim based on favourable jurisprudence cannot trigger penalty. Compliance with Section 155(18), including timely Form 69 filing, protected the assessee from under-reporting allegations.
ITAT held that reassessment notices under sections 147/148 were invalid as the reasons were vague and lacked tangible evidence. Reopening cannot be used merely to verify or scrutinize transactions without proper justification.
The Court held that reassessment notices under Section 148 issued beyond the surviving period under TOLA are invalid, leading to quashing of assessment orders. Time-bar limits override procedural provisions.
Demat and broker records showed actual purchases of Rs. 1.24 crore and sales of Rs. 85 lakh, contradicting the AO’s addition of Rs. 2.11 crore. The Tribunal remitted the matter for detailed examination. Proper transaction-wise verification is essential before treating share activity as unexplained income.
The Tribunal held that reassessment after four years requires PCIT approval, not Additional CIT. The invalid sanction led to quashing of the Section 148 notice and dismissal of Revenue’s appeal.
The ITAT held that reassessment notices issued without the correct statutory sanction under section 151(ii) are void ab initio, emphasizing that procedural compliance is crucial before examining merits of the case.
Reopening Based on Incorrect LTCG Information Invalid; Long-Held Penny-Stock Shares Treated as Genuine — ITAT Mumbai Quashes Additions
