Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
Income Tax : This guide explains who is required to maintain books of account under Section 44AA based on business, profession, turnover, and i...
Income Tax : This guide explains the various assessments under the Income-tax Act, including summary assessment, scrutiny assessment, best judg...
Income Tax : ITAT Mumbai held that an addition under Section 69A cannot be sustained when the assessee is denied the opportunity to cross-exami...
Income Tax : The Tribunal held that CIT(A) cannot enhance income under Section 251 on matters not considered by the Assessing Officer during as...
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 Pune held that the reassessment proceedings were invalid because the notice under Section 148 was approved by the Principal C...
Income Tax : ITAT held that interest earned by a co-operative credit society from deposits with a co-operative bank remained attributable to it...
Income Tax : ITAT Pune held that reassessment proceedings were invalid because the approval under Section 151 was granted by the Principal Comm...
Income Tax : The Supreme Court set aside High Court judgments quashing reassessment notices after noting that the Finance Act, 2026 introduced ...
Income Tax : The ITAT held that Section 68 could not be applied to sale proceeds received from investments already recorded in the books in an ...
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 held that a 147 reopening based on the incorrect assumption that no return was filed is invalid. Since the assessee proved the return was filed, the entire reassessment was quashed.
The Tribunal ruled that reopening based solely on an Insight Portal flag without independent verification is invalid. It held that absence of tangible material and incorrect factual assumptions renders the entire 147 proceeding void.
ITAT held that reassessment notices issued beyond three years require approval from PCCIT/PDGIT, not PCIT. The invalid sanction vitiated all proceedings, following Rajeev Bansal.
ITAT held that reassessment based solely on earlier-examined facts is invalid. Since shares were sold through a SEBI broker and gains were already taxed, no Section 68 addition could survive.
ITAT held that non-receipt of statutory notices by an NRI constituted reasonable cause, restoring the reassessment and deleting penalties under sections 271(1)(b) and 271(1)(c). penalties cannot survive when non-compliance arises from legitimate ignorance.
The addition arose from adopting registration-date valuation under Section 56(2)(vii)(b), while the assessee produced documents showing prior rights and payments. The Tribunal held the new evidence to be material and directed the CIT(A) to reconsider the issue afresh.
The Tribunal observed that additions forming the basis of the penalty had not yet attained finality before the first appellate authority. It therefore restored the matter to the Assessing Officer for reconsideration after completion of the quantum appeal.
The Court set aside notices issued manually by the JAO, holding that reassessment and issuance of Section 148 notices must follow the mandatory faceless mechanism under Section 151A. The ruling reinforces that the JAO has no concurrent jurisdiction.
Aseem Sehgal Vs ITO (ITAT Delhi) The appeals concern assessment years 2015–16 to 2017–18 and arise from reassessment orders issued under Sections 147 and 144B of the Income-tax Act. The sole issue examined by the Tribunal is whether the Assessing Officer was justified in framing reassessment under the pre-April 2021 provisions despite issuing the notice […]
The ITAT Pune remanded a case where the first appellate authority dismissed an appeal ex-parte. taxpayers must be given a fair hearing before dismissal, reinforcing the principle of natural justice.
