Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
Income Tax : Learn the updated provisions governing rectification, assessments, reassessments, and appeals under the Income-tax Act. This guide...
Income Tax : The article explains how the Finance Acts, 2025 and 2026 have reshaped the Updated Return regime under Section 139(8A). It highlig...
Income Tax : The Supreme Court has remitted reassessment cases for fresh consideration after the retrospective insertion of Section 147A, leavi...
Income Tax : This article explains why reassessment proceedings may be invalid if the Assessing Officer merely relies on Investigation Wing rep...
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 : 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...
ITAT deleted the addition after finding that neither possession nor ownership had passed during the relevant assessment year. The decision emphasizes that actual transfer, not mere intention to sell, determines taxability.
ITAT held that proving the mode of payment is not enough to secure deduction for political contributions where evidence points to a bogus donation scheme. Taxpayers must establish the authenticity of the entire transaction.
The Delhi ITAT held that repeated non-compliance with statutory notices transformed the reassessment into a best judgment assessment in substance. Consequently, the CIT(A) was justified in remanding the matter to the Assessing Officer for fresh adjudication.
The Delhi ITAT held that reassessment notices issued beyond four years were invalid as the Assessing Officer failed to record the assessee’s alleged failure to make full and true disclosure. The addition relating to ₹13.10 crore share application money was consequently set aside.
The High Court held that reassessment notices issued physically by jurisdictional officers instead of faceless authorities violate Section 151A. The ruling sets aside non-compliant notices while tying the final outcome to pending Supreme Court decisions.
The High Court set aside notices issued under Sections 148A and consequential reassessment orders after holding that the proceedings suffered from jurisdictional infirmities. The relief, however, remains subject to the Supreme Court’s decision in the pending SLP.
The Tribunal held that notices issued after three years from the relevant assessment year require prior approval from the PCCIT. Approval from the PCIT in such cases renders the reassessment notice legally unsustainable.
Mumbai ITAT held that additions under Section 69 cannot survive where transactions are reflected in broker records and the source of funds is explained. Mere Client Code Modification information, without supporting evidence of tax evasion, is insufficient for making additions.
The Tribunal ruled that proportionate interest disallowance under Section 36(1)(iii) cannot be sustained when the assessee has adequate reserves and interest-free funds to cover the advances. The Revenue failed to rebut the presumption recognized by higher courts.
The Bombay High Court held that reassessment proceedings could not be initiated on the issue of broken period interest when the legal position had already been settled by binding precedents. The Court quashed the notices issued under Sections 148A and 148.
