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 Tribunal held that reassessment notices issued after 01.04.2021 for AY 2015-16 are time-barred. Such reopening is invalid despite reliance on TOLA, and must be quashed.
Holding that actions prescribed by statute must be performed only in the specified manner, the Tribunal deleted the penalty. The case reinforces the importance of lawful service of notices before penal action.
The Tribunal found that additions under section 69A were made without examining evidence due to non-compliance. The matter was remanded to allow verification of claimed trading and agricultural receipts.
The Court found that statutory notices were properly issued but went unanswered by legal heirs. To balance equities, the assessment was quashed and remitted subject to a 20% pre-deposit of disputed tax excluding interest.
The tribunal held that reassessment initiated through a jurisdictional officer instead of the mandatory faceless mechanism was invalid. Notices under Section 148 issued after 01.04.2021 must follow the faceless scheme, failing which the entire assessment collapses.
The case examined whether full purchase disallowance was justified without rejecting books of account. The Tribunal held that in such circumstances, only a reasonable profit element could be added.
The issue was whether reassessment remains valid when no Section 143(2) notice is issued after a return is filed in response to Section 148. ITAT held such reassessment void, confirming that Section 143(2) is a mandatory jurisdictional requirement.
The Tribunal examined whether unsecured loans could be treated as unexplained merely on investigation wing inputs. It held that once identity, creditworthiness, and genuineness are proved with documents, additions under Section 68 cannot survive.
The issue was whether income of a predecessor company for years before amalgamation can be reassessed in the hands of the successor. ITAT held that such clubbing is impermissible and the reassessment itself is void.
Where capital subsidy was not received in the relevant year and no addition followed, reopening lacked basis. Mechanical reliance on audit objections was held unlawful.
