Income Tax : Explore tax implications under Section 56(2)(vii)(b) and reassessment norms in property transactions. Judicial rulings emphasize e...
Income Tax : ITAT Mumbai invalidates reassessment against Shah Rukh Khan for FY 2012-13, addressing foreign tax credit claims and procedural fl...
Income Tax : Learn about Income Tax Act Section 147 assessment proceedings: reasons for reopening, notice issuance, objections, assessment proc...
Income Tax : Budget 2025 revises block assessment rules for search cases, covering undisclosed income, assessment procedures, penalties, and ti...
Income Tax : Under Section 147 of the Income Tax Act, reassessment cannot be based on a mere change of opinion by the AO. Read more on this leg...
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 Kolkata held that the reopening of assessment cannot be allowed on the basis of vague reasons, where AO has not done anything...
Income Tax : Bombay High Court held that notice issued under section 148 of the Income Tax Act beyond the time period specified under section 1...
Income Tax : Pune ITAT sends assessee's tax appeal back to CIT(A) for re-adjudication after five missed hearings, including one during the Covi...
Income Tax : Madras High Court orders tax re-assessment for teacher who claimed account misuse by bank manager, citing prior fraud case and den...
Income Tax : ITAT Delhi restores Bar Council case to NFAC, directing review of mandatory notice service under Section 148 for reassessment befo...
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 Ahmedabad held that addition on grounds other than grounds forming part of reasons recorded for reopening of assessment not justified. Accordingly, addition towards unexplained investment which didn’t form part of reasons liable to be deleted.
Delhi High Court held that ITAT cannot address the ground which remained unaddressed by CIT(A). Accordingly, matter restored back to CIT(A) to decide on the grounds that were not decided.
Madras High Court held that provision for leave salary is not allowable as deduction under section 43B(f) of the Income Tax Act since deduction of actual payment is allowable and not of provision. Accordingly, question of law answered in favour of revenue.
Assessee didnot file return for the year under consideration. As per AIMS module information received that assessee has deposited the amount of Rs.16,84,100/- as cash during the demonetization period. Case was reopened notice was issued accordingly.
In response to the said notice, the son/legal heir of the deceased assessee submitted a reply on 01 April 2023 wherein he unequivocally apprised the respondent of the demise of his father/assessee, furnishing alongwith a copy of the death certificate as conclusive evidence, and asserted that the notice was null and void ab initio.
ITAT Ahmedabad allows Pankajkumar Patel’s appeal for statistical purposes, remanding unexplained investment case to AO for reconsideration under Section 69A.
Summary of appeal challenging CIT(A) order on income tax assessment for AY 2013-14. Key issues include Section 147 validity and profit estimation.
ITAT Delhi remits Vinod Kumar Garg’s 2012-13 tax assessment case back to AO for reevaluation. Key issues include unexplained investments and procedural lapses.
ITAT Ahmedabad narrows PCIT’s directions under Section 263 in Vimal Agarwal’s tax case for AY 2014-15, limiting inquiry to commission on ₹92 lakh entry.
ITAT Delhi quashes reopening of assessment for verification in JHM Developers Pvt Ltd vs ITO case, ruling it legally invalid.
