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 Chennai held that reopening an assessment after four years based on issues already examined during scrutiny amounted to an impermissible change of opinion. The key takeaway is that reassessment cannot be used as a tool to review a concluded assessment without fresh tangible material.
The Tribunal deleted the addition after finding that the taxpayer had furnished complete documentary evidence of purchase and sale of shares. The ruling emphasizes that suspicion, however strong, cannot replace legally admissible evidence.
ITAT Delhi held that reassessment based solely on Investigation Wing reports without independent enquiry is invalid. The ruling emphasizes that borrowed satisfaction cannot justify reopening under Section 147.
The Tribunal ruled that statements of builder group officials, without corroborative evidence against the purchaser, cannot form the sole basis for addition. The decision reinforces the principle that third-party statements must be independently verified.
The Revenue sought to levy penalty despite accepting the revised income declared by the assessee. ITAT held that accepted disclosures do not automatically amount to misreporting and cannot justify penalty under Section 270A.
The ITAT held that reassessment cannot be sustained when additions are ultimately made on issues not mentioned in the recorded reasons for reopening. The AO’s jurisdiction failed because no valid addition survived on the original escapement issue.
ITAT Delhi held that reassessment under Sections 147/148 cannot be based on the same material already examined during a completed Section 153C assessment. The ruling emphasizes that fresh tangible material is necessary for valid reopening.
The Tribunal found that the Assessing Officer ignored the statutory threshold for reopening assessments beyond three years. The ruling emphasizes that reassessment notices issued contrary to limitation provisions are void in law.
ITAT found that the Assessing Officer incorrectly treated consignment transactions as the assessees turnover based solely on cess payments. The ruling emphasizes that commission agents should be taxed on commission income and not on consignors turnover.
ITAT Mumbai held that additions under Sections 68 and 69C could not be sustained where the Revenue relied only on generalized investigation findings. The Tribunal found no evidence linking the assessee to any accommodation entry arrangement and deleted both additions.
