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...
The dispute concerned whether transfer through a release deed amounted to a taxable sale and justified loss claims. The Tribunal remanded the matter, directing verification of books to examine the genuineness of the claimed loss.
The Tribunal upheld the CIT(A)’s power to remand an ex-parte assessment for fresh adjudication. It ruled that such action was within jurisdiction, leading to dismissal of the Revenue’s appeal.
The issue was whether penalty could survive after the assessment order was set aside. The Tribunal held that once the basis of the addition is extinguished, penalty under Section 271(1)(c) cannot be sustained.
The Tribunal held that reassessment remains valid when the notice is issued while the company is still on the ROC records. Subsequent striking off does not nullify initiated proceedings.
The court held that a reassessment notice issued by the jurisdictional officer violated the faceless assessment scheme. As a result, the notice and the consequential assessment order were set aside, subject to liberty if higher courts take a different view.
The case examined whether a General Power of Attorney could be treated as a Joint Development Agreement for taxing capital gains. The Tribunal held that a GPA does not amount to a transfer, leading to deletion of the addition.
The Tribunal held that reassessment initiated with approval from an incorrect authority is invalid. Where the statute mandates sanction from a higher specified authority, deviation vitiates the proceedings.
Failure to comply with section 143(2) by the competent Assessing Officer invalidates the assessment. The decision underscores strict adherence to jurisdictional requirements under the Act.
The decision reiterates that reassessment cannot be initiated on borrowed satisfaction or presumptions. Independent application of mind by the Assessing Officer is mandatory for a valid reopening.
Construction, fit-out, and IT installation costs capitalised in fixed assets were held genuine. The Tribunal emphasized substance of records over suspicion based on third-party allegations.
