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 case examined whether an appellate authority could set aside an ex-parte reassessment. The tribunal held that the amended proviso to section 251(1)(a) expressly allows such remand to ensure assessment on merits.
Court held that reopening of assessment based solely on vague information from Insight Portal, without a live nexus to the assessee’s records, was invalid. Reassessment notice was quashed for absence of concrete material showing income escapement.
The Tribunal held that deduction under section 80P cannot be allowed without a timely return but restored the matter to enable condonation under the CBDT circular.
The Tribunal held that relief based on additional evidence without obtaining a remand report breaches Rule 46A(3). The matter was remanded for fresh adjudication after proper verification.
SC dismissed SLP due to huge delay with costs. HC had quashed reassessment since it was issued despite stay on further proceedings.
The Court set aside an assessment passed despite an existing stay order, holding that proceedings undertaken in violation of judicial restraint cannot stand.
The issue was whether reassessment could be initiated without material showing income had escaped assessment. The Court held that mere allegations of circuitous transactions were insufficient. The key takeaway is that actual escapement is mandatory under the amended law.
The Tribunal found that additions for securities transactions may overlap with amounts already accepted by the tax authority. The matter was remitted to the AO for factual verification before sustaining any addition.
The Court held that reopening based on wrong assumptions about return filing and without supporting material is invalid. Mechanical recording of reasons cannot confer jurisdiction.
The Court set aside a reassessment order passed in the name of a deceased assessee, holding that proceedings cannot continue after authorities are informed of death. Fresh proceedings may be initiated against legal representatives as per law.
