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 examined addition under Section 69C for unexplained credit card payments made by the assessee. The Tribunal remanded the matter to the AO for proper verification, emphasizing the need for independent inquiry before confirming additions.
ITAT held reassessment invalid due to approval taken from an incorrect authority under Section 151. The ruling confirms that improper sanction makes the entire proceeding void ab initio.
The Tribunal upheld dismissal of appeal for non-payment of tax under Section 249(4)(b). However, it remanded the case after finding that the addition based on Form 26AS may be incorrect.
Zee Entertainment Enterprises Limited Vs DCIT (ITAT Mumbai) The matter concerns two appeals filed by the assessee against orders of the Commissioner of Income Tax (Appeals)-48, Mumbai, for Assessment Years (AY) 2015–16 and 2019–20. Both appeals arise from assessment orders passed under Section 143(3) read with Section 147 of the Income Tax Act, 1961. Since […]
ITAT upheld deletion of penalty as the exemption issue was pending before the High Court. The assessee had filed an undertaking under Section 158A. The ruling highlights that penalty cannot be sustained when the core issue is yet to be finally adjudicated.
The Tribunal rejected reopening based on common reasons for multiple years without year-specific justification. The absence of relevant material for AY 2010–11 led to quashing of reassessment. The ruling stresses precision in reopening proceedings.
The issue was whether sale of agricultural land attracts capital gains tax. The Tribunal held that land situated beyond prescribed municipal limits is not a capital asset. The key takeaway is that location plays a decisive role in taxability.
The Court held that a Section 148 notice issued beyond the statutory six-year limitation period is invalid. It ruled that expired limitation cannot be revived through later amendments, rendering the reassessment void.
The Tribunal held that Section 50C may not apply if properties are held as stock-in-trade. It remanded the case to verify whether transactions were part of real estate business.
The issue was whether reassessment under Section 147 is valid after a search. The ITAT held it invalid, ruling that only Section 153A applies post-search, making the reassessment void.
