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...
Gujarat High Court held that rejection of a Vivad se Vishwas declaration was invalid because final assessment arose from survey proceedings under Section 133A, not a search under Section 132. Court ruled that Section 96(a)(i) cannot be applied beyond its express wording.
The Tribunal ruled that recording satisfaction in the assessment order is mandatory before initiating penalty under Section 271D. In the absence of such satisfaction, the penalties were deleted.
The ITAT Mumbai held that Explanation 1 to Section 37(1) could not apply in the absence of any finding by the competent authority that the assessee had committed an offence or violated the Insurance Act. The disallowance was therefore deleted.
The ITAT held that the entire value of purchases from an alleged accommodation entry provider cannot be added as income. It directed the Assessing Officer to tax only the profit element by applying a 5% higher net profit rate.
This guide explains who is required to maintain books of account under Section 44AA based on business, profession, turnover, and income thresholds. It also outlines the consequences of non-compliance and the prescribed record-keeping requirements.
The ITAT held that the Assessing Officer failed to produce any material establishing a connection between the assessee and the alleged accommodation entry provider. It upheld the deletion of the Section 69A addition for lack of supporting evidence.
The Telangana High Court permitted the petitioner to withdraw the writ petition challenging the reassessment order passed under Sections 147, 144, and 144B of the Income-tax Act. The Court granted liberty to file a fresh writ petition, leaving all issues open for future adjudication.
ITAT Guwahati held that additions could not be sustained where the transactions related to a separate partnership firm with a different PAN and different partners. The Tribunal deleted the additions due to lack of evidence linking those transactions to the assessee.
The ITAT held that Section 50C only substitutes the sale consideration for capital gains computation and does not prohibit deduction of the indexed cost of improvement. The matter was remanded only to verify the amount claimed.
The ITAT Visakhapatnam held that the Commissioner cannot invoke Section 263 where the Assessing Officer has already conducted inquiries and applied his mind to the disputed issues.
