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...
ITAT Mumbai held that reassessment proceedings initiated after scrutiny assessment were invalid because they relied on the same material already examined earlier. The Tribunal ruled that reassessment cannot be used to review a previously accepted claim.
The Mumbai ITAT held that reversal of securitisation provisions already disallowed in earlier years cannot be taxed again upon write-back. The Tribunal ruled that such taxation would amount to double taxation.
ITAT Mumbai held that the reassessment notice issued on 24.07.2022 was time-barred under the Supreme Court ruling in Rajeev Bansal. The Tribunal ruled that reassessment proceedings and the consequential assessment order were invalid.
The Delhi ITAT held that reassessment proceedings initiated solely on the basis of a revenue audit objection without fresh tangible material were invalid. The Tribunal ruled that such reopening amounted to a mere change of opinion.
ITAT Ahmedabad held that reassessment based solely on search material seized from a third party must be initiated under Section 153C and not Sections 147/148. The Tribunal quashed the reassessment for lack of jurisdiction and absence of a mandatory satisfaction note.
The Tribunal held that the reassessment order could not be revised under Section 263 since the conditions for treating jewellery expenses as perquisite under Section 17(2) were not satisfied. The appeal of the assessee was allowed.
The ITAT ruled that the Assessing Officer wrongly adopted the stamp duty valuation despite contrary valuation material on record. The Tribunal directed fresh capital gain computation using the lower departmental valuation.
The ITAT held that stamp duty valuation could not be blindly adopted where the property was affected by BBMP demolition proceedings for unauthorized construction. The Tribunal accepted the actual purchase price as fair market value and deleted the addition.
The Tribunal ruled that a flat 15% profit estimation was excessive where all contract receipts were received through banking channels with TDS deductions. It directed recomputation of income at 7% of turnover.
The Telangana High Court held that reassessment proceedings initiated by the Jurisdictional Assessing Officer after implementation of the Faceless Assessment Scheme were without jurisdiction. It quashed notices issued under Sections 148A and 148 along with consequential orders.
