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...
The Tribunal held that the assessee’s objection regarding approval under Section 151 required consideration. The matter was sent back to the CIT(A) for a fresh decision.
The Tribunal held that although the assessee produced documentary evidence supporting the loan, questions regarding the lender’s financial capacity and source of funds required deeper examination. The matter was remanded to the Assessing Officer for fresh verification.
ITAT Ahmedabad held that unsecured loan additions could not be sustained where the assessee furnished confirmations, bank statements, and tax records, and the Revenue failed to establish any cash trail or nexus with alleged accommodation entries.
The Jaipur ITAT held that reopening under Section 147 cannot be sustained where the Assessing Officer merely relies on information from the Investigation Wing without forming an independent belief. The reassessment proceedings were held invalid for lack of independent application of mind.
The Jaipur ITAT held that reopening of assessment cannot be based solely on information received from the Investigation Wing without independent application of mind. The reassessment proceedings were quashed as the Assessing Officer failed to form his own satisfaction.
The Lucknow ITAT held that reassessment proceedings cannot survive where the reasons recorded contain incorrect facts and lack proper application of mind. The reassessment order was quashed as the recorded reasons were found arbitrary and unsustainable.
The Nagpur ITAT restored the matter to the CIT(A) after noting that the legal issue regarding notices issued by the Jurisdictional Assessing Officer is pending before the Supreme Court. A fresh adjudication on merits was directed.
Mumbai ITAT held that a reassessment notice issued beyond three years was invalid because approval was obtained from the Principal CIT instead of the prescribed higher authority under Section 151. The reassessment proceedings and assessment order were quashed.
The Mumbai ITAT held that a Section 148 notice issued beyond three years was invalid because the alleged escaped income was only Rs. 2,03,816, below the Rs. 50 lakh threshold. The reassessment and consequential additions were quashed.
ITAT Mumbai held that reassessment proceedings were invalid because approval under Section 151 was obtained from an authority not competent under the amended law. The notice under Section 148 was declared void.
