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...
The Tribunal ruled that only 8% of disputed purchases could be added where the assessee had disclosed corresponding sales and made payments through banking channels. Entire purchase disallowance was held to distort true business income.
The Tribunal ruled that capital gains on Transferable Development Rights must be computed after deducting the purchase cost of TDR from the sale consideration. The case was remanded because the assessee failed to submit documents before the AO earlier.
Mumbai ITAT held that Section 69A cannot be invoked where loan transactions are fully routed through banking channels and recorded in regular books of account. The Tribunal deleted the addition despite Revenue alleging the transactions were accommodation entries based on third-party search material.
The Hyderabad ITAT ruled that the CIT(A) could not delete unexplained cash deposit additions merely on the basis of submissions and audit reports without supporting documents proving business transactions.
TAT Chandigarh held that reassessment proceedings were invalid because the property was actually purchased from a different company than the one referred to in the recorded reasons. The Tribunal found absence of any live nexus between the assessee and the alleged incriminating material.
The Gujarat High Court set aside a Section 148 notice after finding no direct or indirect connection between the assessee and the seized third-party documents. The Court held that reassessment based on vague material and assumptions was unsustainable.
Delhi ITAT held that revision under Section 263 was invalid because the Assessing Officer had already made additions on the exact issue for which reassessment was reopened. The Tribunal ruled that the reassessment order was not erroneous or prejudicial to Revenue.
The Tribunal held that documents relating to payments made to suppliers such as TS MARKFED and Sri Venkateshwara Agencies required proper verification. The case was remanded to the AO for fresh adjudication.
Pune ITAT remanded the matter after the assessee explained that responses meant for the assessment appeal were inadvertently uploaded in the penalty appeal portal.
ITAT Indore held that appellate order violated principles of natural justice after finding that key hearing notices were sent to an incorrect email address. The matter was remanded for fresh adjudication.
