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...
Hyderabad ITAT set aside a tax order dismissing an appeal for non-prosecution. Citing Bombay HC’s Premkumar Luthra ruling, the Tribunal held that the CIT(A) must adjudicate the merits under Section 250(6).
The Tribunal accepted documentary evidence, including a director’s affidavit and Company Law Board (CLB) orders, as credible proof of sufficient cause for the inordinate delay. The case was restored, ensuring the assessee gets an opportunity to contest the 68 and House Property income additions.
Holding the tolerance band as a remedial measure, the Tribunal applied it retrospectively to avoid hardship where stamp duty and actual sale values differ by less than 10%.
ITAT Hyderabad rules that once income is estimated by rejecting books, no further addition can be made; ₹31.55 lakh added in liquor business case deleted.
Saroj Devi Haldiya vs. ITO: The ITAT Jaipur overturned an Rs.75 lakh addition under S. 56(2)(ix) of the Income Tax Act. The Tribunal ruled the reassessment was invalid due to borrowed satisfaction by the Assessing Officer, mechanical approval, and a severe violation of natural justice (two-day notice).
ITAT Jaipur ruled that reassessment under Section 148 based solely on Investigation Wing’s report without independent verification is invalid and void ab initio.
The Tribunal directed the CIT(A) to decide the appeal afresh on its merits, including a ₹75 lakh unexplained cash advance addition, after finding that the earlier dismissal was based purely on a procedural technicality. The ruling emphasizes that the CIT(A) must use their wide powers to adjudicate on merits and cannot reject an appeal at the threshold.
ITAT Mumbai held that addition towards unexplained expenditure merely on the basis of suspicion based on information received from another authority without independent enquiry cannot be sustained. Accordingly, appeal of revenue dismissed.
Tribunal held that unexplained credit u/s 68 cannot be added when assessee has not yet commenced business. Loans received via account payee cheques from relatives of partners were genuine, referencing Alankar Promoters LLP vs ITO (Delhi HC).
The ITAT Pune set aside the CIT(A)’s order that had restricted a bogus purchase addition of ₹2.53 crore to a 12.5% profit element. The matter was remanded to the AO for fresh adjudication to ensure the application of the binding ruling from the jurisdictional Bombay High Court regarding 100% disallowance in hawala purchase cases.
