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 : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : ITAT held that a return filed under section 148 remains valid even if delayed. Failure to issue mandatory notice under section 143...
Income Tax : Judicial rulings clarify that satisfaction for initiating action against other persons in search cases must be recorded promptly. ...
Income Tax : The Finance Bill 2026 proposes allowing taxpayers to file an Updated Return even after receiving a reassessment notice under Secti...
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 : ITAT Indore held that appellate order violated principles of natural justice after finding that key hearing notices were sent to a...
Income Tax : Court ruled that reassessment notices under Section 148 must be issued through the faceless mechanism under Section 151A and the 2...
Income Tax : The Madras High Court held that reassessment notices required to be issued by the Faceless Assessing Officer are invalid if issued...
Income Tax : The Madras High Court held that reassessment notices required to be issued by the Faceless Assessing Officer are invalid if issued...
Income Tax : The Jharkhand High Court held that retrospective insertion of Section 147A removed the jurisdictional challenge against reassessme...
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 Ahmedabad held that passing of order by CIT(A) without taking into account the submission made by the assessee is not sustainable in law. Accordingly, matter remitted back to the file of CIT(A).
Devanur Thimmasetty Srinivasa Vs ITO (Karnataka High Court) Assessment order taking entirety of the sale consideration without taking note of the indexed cost of acquisition. is liable to set-aside- Karnataka HC In a recent ruling, the Karnataka High Court quashed an income tax reassessment order and notice issued to the petitioner where the full sale […]
ITAT Kolkata held that in course of reassessment, AO concludes that no additions or modifications are warranted under these heads, it would not be entitled to make any additions in respect of other items forming part of original return.
Delhi High Court held that reopening of assessment under section 148 of the Income Tax Act beyond the period as stipulated under section 149(1) of the Income Tax Act is not permissible. Accordingly, notice issued beyond time limit set aside.
It is mainly contested that invocation of jurisdiction under Section 148 of the Act was beyond the period of limitation under Section 148 read with Section 147 of the Act as there was no suppression of facts by the petitioners.
ITAT Surat held that each and every addition cannot be a basis for levying a penalty under section 271(1)(c) of the Income Tax Act. There has to be deliberate furnishing of inaccurate particulars or concealed income for levy of penalty.
ITAT Bangalore held that once the sale consideration mentioned in the sale deed differs from the stamp value adopted by the officer, AO has to adopt the procedures contemplated u/s. 50C of the Act. Accordingly, appeal filed by the assessee dismissed.
As noticed earlier, the provisions of sec. 147 of the Act makes it mandatory that the AO should be clear about the alleged escapement of income while recording reasons for reopening of assessment.
ITAT Delhi held that based on incriminating materials unearthed during the course of search, proceedings under section 153C of the Income Tax Act needs to be initiated. Hence, initiation of proceedings u/s. 148 illegal and void ab initio.
ITAT Delhi remanded the matter back to CIT(A) since CIT(A) failed to examined the validity of jurisdiction under section 148 of the Income Tax Act. Accordingly, order set aside and matter remanded back.
