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 ITAT Delhi invalidated the reopening of an income tax assessment because the assessee had filed a complete return and the AO failed to record valid reasons, highlighting the need for proper statutory compliance in reassessment.
The ITAT Raipur restored the appeal regarding deletion of ₹15.81 crore addition, highlighting procedural lapses by CIT(A) in accepting new evidence without remand. Key takeaway: AO’s verification is crucial before deleting large additions.
ITAT held that section 263 cannot be invoked unless the PCIT pinpoints an actual error in the AO’s order; since no specific mistake was shown, the revision was invalid.
The Tribunal held that reassessment was invalid since the original scrutiny had already examined the issue and no fresh information indicating suppression or omission was found. Reopening based solely on a change of opinion was rejected. The ruling reinforces that section 147 requires tangible new material.
The Tribunal ruled that authorities erred by ignoring the sale deed, receipt, and bank statements solely due to a technical lapse in return filing. Since the documents clearly established the source of cash, the addition could not survive. The order directed deletion of the section 69A addition.
Reassessment proceedings initiated with approval from the wrong authority were held invalid. Courts reiterated that Section 151(ii) specifies the competent sanctioning authority for notices issued after three years, leading to quashing of the assessment and related demand.
ITAT Delhi held that the PCIT’s sanction under section 151 was granted before the AO recorded reasons to reopen the assessment, violating mandatory procedural requirements. As the jurisdictional defect went to the root, the section 148 notice and entire section 147 reassessment were declared void ab initio.
ITAT Ahmedabad held that the AO had conducted detailed enquiries into long-term capital gains from penny stock transactions, and the PCIT’s revision under section 263 was based only on an audit objection. Since the AO’s view was plausible and well-supported, the revisional action was unsustainable and quashed.
The order reiterates that mere unusual price movement or high returns do not convert a scrip into a penny stock. With identical facts earlier examined and accepted, the Tribunal followed precedent and removed all additions.
ITAT Chandigarh held that a Section 148 notice issued by the Jurisdictional AO instead of Faceless AO violated statutory provisions, quashing the assessment for AY 2016-17.
