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...
Madras High Court held that reassessment proceedings under section 148 of the Income Tax Act initiated on the basis of change of opinion is invalid. Accordingly, appeal of revenue dismissed and substantial questions of law is answered in favour of assessee.
ITAT Jaipur held that reassessment notice under section 148 of the Income Tax Act issued by the Assessing Officer [AO], having no jurisdiction, is invalid. Accordingly, assessment order and consequent proceeding are also invalid.
Calcutta High Court dismisses challenge against a Section 144B tax order, directing Ayashree Finvest to use available statutory appeal remedies despite accountant’s failure.
ITAT Cochin rules in favor of Muthoot Bankers, allowing deduction for interest paid to partners under Section 40B, overturning disallowance by lower authorities.
Amritsar ITAT sets aside reassessment against Bhai Industries Pvt. Ltd., citing lack of independent AO application of mind and denial of cross-examination in bogus purchases case.
ITAT Amritsar overturns Holy Faith International’s reassessment, citing AO’s failure to independently apply mind on external info and denial of cross-examination.
Calcutta High Court sets aside an Income Tax Act Section 154 order for AY 2013-14, as it was issued against a deceased individual, allowing the daughter-in-law’s appeal.
Income Tax Appellate Tribunal sets aside PCIT’s revisionary order against Synwave Industries, ruling original assessment not erroneous.
Therefore, the amount distributed by it to the Petitioner would not qualify as exempt dividend income under Section 10(34) of the Act. This to our mind would be merely a “change of opinion”.
ITAT Nagpur held that addition on account of LTCG in the hands of firm not justified as property is belonged to the partner in his individual capacity and didn’t belonged to the firm. Accordingly, order of CIT(A) upheld and appeal of revenue dismissed.
