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 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...
Income Tax : Bombay High Court sets aside IT reassessment against Oxford University Press, ruling no failure to disclose material facts for reo...
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...
The proceedings drawn, admittedly being beyond a period that was prescribed under sub-section (2A) of Section 153 and the consequential orders passed were all beyond the period of limitation prescribed under sub-section (2A) of Section 153 hence, the same being not sustainable, deserved to be and was accordingly set aside/quashed.
Delhi High Court held that notice for reopening of assessment issued u/s. 148 of the Income Tax Act on the last date of the limitation period cannot be said be have been issued beyond the period of limitation.
ITAT Delhi validates reassessment based on non-filing of ITR and cash transactions in a bank account. Full details of Avinash Chaudhary vs ITO case.
ITAT Mumbai denies capital gain exemption ( Section 54/54F) to Hem Chandra R. Gavankar for investing in a house in his wife and daughter’s name.
ITAT Chennai directs the AO to reduce the addition for unexplained cash deposits in Canara Bank by the assessee. Detailed analysis of the case and its implications.
ITAT Chennai allows appeals, directs the assessee to deposit a nominal cost of Rs 5000 for non-appearance before lower authorities. Detailed analysis of the case.
ITAT Mumbai’s decision on assessment in the name of a deceased assessee. Analysis of the case, legal implications, and implications for legal heirs. Learn more.
Learn about the ITAT Delhi case of Sujata Banerjee vs. ACIT, where the Assessing Officer’s addition of unexplained income was deleted due to sufficient source of income.
Explore Bombay High Court’s ruling on Hasmukh Estates Pvt. Ltd. vs. ACIT, challenging reassessment based on internal audit objections and a ‘change of opinion.
Delhi High Court held that reopening of closed assessment which has reached culmination without any actionable material is unsustainable in law and hence liable to be quashed.
