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...
Mumbai ITAT has set aside an ex parte tax assessment, ruling that a genuine dispute between partners was a valid reason for non-compliance.
The ITAT Raipur restores Section 10(10D) exemption, ruling the CPC exceeded its powers by making a complex adjustment on an insurance policy’s maturity proceeds.
The Delhi High Court has ruled that a Jurisdictional Assessing Officer can initiate reassessment proceedings, citing a prior judgment that found concurrent jurisdiction with Faceless Officers.
ITAT Chennai ruled that a reassessment initiated by a Jurisdictional Assessing Officer after March 29, 2022, was invalid, making the subsequent revision order by the PCIT equally void.
ITAT Chennai quashed a reassessment notice, ruling that an Assessing Officer cannot reopen a case after four years based on a review of documents already on file without new, tangible material.
Delhi High Court held that AO has sufficient information available with him to carry out reassessment proceedings. Accordingly, reopening of assessment u/s. 148A of the Income Tax Act upheld and petition dismissed.
ITAT Chennai held that addition under section 69A of the Income Tax Act towards cash deposits not reflected in bank account details cannot be sustained since the income doesn’t belong to assessee in the individual status but the income belong to HUF of the assessee.
The ITAT Chandigarh deleted a ₹25.25 lakh cash deposit addition to an illiterate agriculturist’s income, accepting bank records as evidence of redeposited funds.
Srijan Charitable Trust Vs ITO (Exemption) (ITAT Kolkata) Background Srijan Charitable Trust, registered u/s 12A, filed return of income for AY 2011-12 declaring nil income. The case was reopened u/s 147 based on a survey u/s 133A (27.01.2015) in the case of Herbicure Health Care Bio-Herbal Research Foundation, whose director admitted that donations given by […]
TAT Kolkata reverses Rs.1.33 crore tax addition on Sati Saw Mill’s cash deposits, holding that the money was accounted business receipts.
