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Income Tax : This article explains why reassessment proceedings may be invalid if the Assessing Officer merely relies on Investigation Wing rep...
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Income Tax : Discover how Finance Act 2021 revamped assessment and reassessment procedures under Income-tax Act, impacting notices, time limits...
Income Tax : Humble Representation for modification of Section 151 of the Income Tax Act relating to Sanction for issue of Notice under sec. 14...
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 : Where unaccounted sales were established through seized material, only the net profit embedded therein was liable to tax, and not ...
Income Tax : ITAT Mumbai remanded the case to examine whether Section 56(2)(x) applied based on the agreement date and to consider refund of ex...
Income Tax : ITAT Bangalore remanded a Section 69A addition after holding that an APMC commission agent's entire sale proceeds could not be tre...
Income Tax : ITAT Kolkata condoned appeal delay, set aside the CIT(A)'s order, and remanded the assessment for fresh adjudication after grantin...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : The department has identified high-risk cases through its Insight Portal for AYs 2022-25. It directs officers to initiate reassess...
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...
Income Tax : Explore the latest guidelines for issuing notice under Section 148 of the Income Tax Act, 1961. Understand key procedures, amendme...
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 ruled that appellate authorities must adjudicate each legal and factual ground raised in appeal. A mere remand to the AO without deciding jurisdictional issues violates statutory requirements.
The Tribunal held that Section 68 cannot be invoked unless a sum is found credited in the assessees books. In the absence of any such entry, the addition based on an alleged cash loan was deleted.
The ruling clarifies that the power to admit or reject appeals under section 249(4) lies with NFAC/RFAC, not the Appeal Unit. Appeals were restored due to improper exercise of jurisdiction.
The issue was whether a reassessment notice for AY 2015–16 issued after 31 March 2022 was valid. The Tribunal held the notice time-barred and quashed the entire reassessment proceedings.
The ITAT held that additions based on survey material cannot be sustained without proper opportunity of hearing. The matter was remitted for fresh adjudication after finding violation of natural justice.
ITAT Hyderabad held that notices under Section 148 issued on 01.04.2021 without following mandatory Section 148A procedures are invalid. The Tribunal quashed reassessment orders, emphasizing that procedural compliance is jurisdictional and essential.
The court held that reopening beyond the permissible period was invalid where full disclosures were made and no new material emerged. Reassessment based solely on existing records was ruled time-barred.
The High Court quashed a reassessment for A.Y. 2015–16 where the Section 148 notice was issued after 1 April 2021. Relying on the Revenue’s binding concession before the Supreme Court, all consequential actions were set aside.
The Revenue sought to tax total on-money collected under section 69A. The ITAT ruled that on-money forms part of business receipts and must be assessed on a profit basis. The key takeaway is that taxation cannot ignore unaccounted expenses linked to such receipts.
The Tribunal upheld reassessment based on Investigation Wing material alleging accommodation entries. It ruled that such tangible inputs justified reopening despite a completed scrutiny assessment.
