#Section 147
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5,090 articlesIncome Tax
Income Tax
Additions Based on Bank Credits Without Verification Unjustified – CIT(A)’s Factual Findings Upheld
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No Capital Gains Tax on JDA Execution Until Land Possession Is Handed Over
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Reassessment Set Aside for Fresh Hearing – Assessee Can Challenge Validity of Notice u/s 148 in Subsequent Proceedings: ITAT Hyderabad
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ITAT Ahmedabad: Addition on Alleged Penny Stock Investment Deleted – No Proof of Assessee’s Own Funds
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No hearing, no justice – ITAT Pune remands ex-parte CIT(A) order for fresh adjudication
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When no addition on reopening issue, entire 147 proceeding falls JAO had no jurisdiction post-Faceless Scheme
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Faceless means faceless – ITAT Hyderabad quashes reassessment by local AO as void- JAO had no power post-2022 Scheme
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Protective additions without substantive foundation quashed – ITAT Visakhapatnam invalidates reopening based on suspicion
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ITAT Quashes Reassessment: Escaped Income Below Rs. 50 Lakh Bars Extended Time Limit Reason
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No Retrospective Remand: ITAT Scraps CIT(A)’s Order in Bogus LTCG Case for Wrongly Invoking New Law
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Reopening u/s 147 quashed – AO’s “fishing enquiry” to investigate offshore receipts not valid formation of belief- Reassessment void where AO reopens only to verify PE/offshore claims
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ITAT Delhi remands ₹16.10 Cr unsecured – loan issue for verification; consequential interest disallowance also to be re-examined – CIT(A) erred in bypassing remand report
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ITAT Rajkot Upholds ₹3.99 Crore Addition u/s 56(2)(viib) – Rejects DCF Valuation as Defective & Unsubstantiated
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