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 : SC clarifies reassessment notices under TOLA and Finance Act 2021 in Union of India v. Rajeev Bansal. Learn how decision impacts t...
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 Mumbai held that notice under section 148 of the Income Tax Act issued after a period of six years is barred by limitation. A...
Income Tax : ITAT Surat condones a 162-day delay in appeal filing by a 77-year-old farmer, citing lack of legal guidance, and directs a fresh a...
Income Tax : ITAT Mumbai rules that share transactions backed by DEMAT statements cannot be treated as bogus income without concrete proof....
Income Tax : ITAT Surat remands case to CIT(A) for fresh adjudication on HUF gift taxability under Section 56(2)(vii) of the Income Tax Act, ci...
Income Tax : ITAT Jaipur rules that when search finds incriminating material, proceedings must be under Section 153C, not 147/148. Read case de...
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...
Corporate Law : Income Tax Gazetted Officers’ Association (W.B.) Unit Date: 02.02.2023. To The Principal Chief Commissioner of Income Tax, W...
ITAT Bangalore held that the provisions of section 68 of the Income Tax Act cannot be applied in relation to the sales receipt of preference shares shown by the assessee in its books of accounts as sales receipt has already been shown in the books of accounts as income/loss at the time of sale only.
Delhi High Court nullifies reassessment under IT Act, citing lack of independent application of mind. In-depth analysis of Sahu Exports vs. ACIT judgment.
Madras High Court held that reopening of assessment invoking provisions of section 148 of the Income Tax Act inspired from a review and a change of opinion is liable to be quashed and set aside.
Learn about the ITAT Delhi decision in DCIT vs. Rapid Buildwell Ltd. case. NCLT moratorium impact on proceedings. Detailed analysis of grounds and outcome.
ITAT Mumbai upholds reassessment proceedings in Himanshu Manoranjan Bhatt vs ITO case. Sale and purchase of property not disclosed; addition of LTCG contested.
Since the penalty was reduced from 300% to 100% of the tax sought to be evaded, assessee was entitled to the benefit of Section 279(1A) of Income Tax.
ITAT Delhi held that simultaneous issue of the DIN number is insignificant and superfluous exercise, in the absence of mentioning the DIN number on the body of AO’s order. Thus, Assessment order without DIN is void ab initio.
Explore legal nuances of a disputed Income Tax notice in Subramaniam Rohini vs ITO case. Learn about digital signatures, communication timelines, and relevant court judgments
ITAT Chennai rules no 263 revision for non-limited scrutiny issues. Upholds assessment order in Epimoney Pvt Ltd vs. ITO case for AY 2018-19.
ITAT Hyderabad held that as the parties have entered into registered Joint Development Agreement (JDA) on 04.04.2007 and the “Group of assessee” have also handed over possession to the TBPD pursuant to the agreement. Hence, transfer took place in the assessment year 2008-09.
