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...
A deep dive into the significant ruling of ITAT Mumbai in ITO Vs Asahi Infrastructure Projects Ltd case, exploring the issues related to the reopening of the assessment and non-genuine purchases, as per the guidelines set in the landmark GKN Driveshaft case.
Delhi ITAT dismisses appeal in Tekchand Vs ITO case, stating that penalty proceedings cannot be contested unless a formal order is issued. Read the complete analysis here.
Gujarat High court held that reasons recorded while issuing notice u/s 148 was that capital gain on sale of property was not reflected in return and hence income has escaped assessment. However, factually, capital gain was already reflected in the return and hence it cannot be said that income chargeable to tax has escaped assessment and hence reopening unsustained.
ITAT Mumbai held that reopening of assessment prior to disposing of the objections filed by the assessee is unsustainable and bad-in-law.
ITAT Delhi held that enhancement by CIT(A) without providing reasonable opportunity of showing cause against the proposed enhancement to the Assessee is unsustainable in law.
ITAT Ahmedabad held that grant received under Sampoorna Gramin Swarojgar Yogna (SGSY) from Government of Gujarat and interest earned on such grant cannot be treated as revenue receipt. Accordingly, the same is not liable to be taxed.
Bombay High Court held that reopening of assessment, in the exercise of powers under section 147 read with section 148 of the Act, without tangible material to conclude that income had escaped assessment is untenable in law.
The recent ITAT Delhi decision in the case of Karamveer Singh Vs ITO emphasises the non-taxability of immovable property bought through funds gifted by relatives. Explore the case’s specifics, implications, and outcomes here.
Detailed review of ITAT Delhi’s ruling in favor of the assessee, Tarik Tondon, where the reassessment order was cancelled due to lack of verification of the information which initiated the reopening.
In a significant ruling, ITAT Ahmedabad deemed an assessment under Sec 147 of the Income Tax Act, based solely on cash deposit information, as invalid in the case of DineshkumarDalsangbhai Chaudhary Kankavati Society Vs ITO.
