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 Calcutta High Court held that reassessment proceedings cannot be reopened merely on suspicion arising from investigation reports. The Court ruled that “reason to believe” must be based on independent application of mind and material evidence.
ITAT Delhi ruled that reassessment in search cases requires prior approval under section 148B before passing the order. Since the department failed to obtain the prescribed approval, the assessment was quashed as invalid in law.
The ITAT Mumbai held that receipt of a new flat in exchange for surrender of an old flat under a redevelopment arrangement does not amount to receipt of immovable property for inadequate consideration. The addition under Section 56(2)(x) was therefore deleted.
The Bombay High Court held that reassessment proceedings issued beyond three years for AY 2018-19 were invalid because approval was granted by the Principal Commissioner instead of the competent authority under Section 151(ii).
The Tribunal upheld disallowance of deduction under Section 80GGC after finding the political donation lacked genuineness. The ruling highlights that payments through banking channels alone cannot establish a valid deduction when surrounding facts indicate accommodation entries.
The ITAT Surat held that bank transactions reflected cheque discounting business activity and could not be fully treated as unexplained cash credits under Section 68. Only estimated commission income and profit were sustained.
The ITAT Chennai restored the assessment matter to the Assessing Officer after noting that the assessee’s condonation petition under Section 119(2)(b) was still pending. The Tribunal held that the decision on condonation directly affected eligibility for deduction under Section 80P.
ITAT Raipur held that alleged bogus purchases relating to a partnership firm could not be taxed protectively in the hands of one partner without direct linkage. The Tribunal upheld deletion of the Rs.1.92 crore addition made on protective basis.
Tribunal ruled that reliance on statement of an alleged accommodation entry provider without furnishing statement or allowing cross-examination violated principles of natural justice.
ITAT Mumbai held that although foreign commission expenditure was non-genuine and liable for disallowance, amounts already written back and taxed in a subsequent year could not again be taxed through disallowance in earlier years.
