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 : ITAT Pune quashed a Section 148 notice based on vague information and directed deletion of a ₹51.35 lakh addition for lack of su...
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 : 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...
Bombay HC voids reassessment notice, citing lack of proof of undisclosed material facts by Hindustan Lever Ltd.
ITAT Visakhapatnam ruled no penalty for voluntary income disclosure post-survey, rejecting AO’s concealment claims.
Bombay High Court held that once search action u/s. 132 of the Income Tax Act is the foundation of the case, assessment could be initiated only under section 153A/ 153C. Thus, initiation of reassessment proceedings u/s. 147 is liable to be quashed.
ITAT Mumbai quashes reassessment against CLE Private Limited, ruling notice issued beyond TOLA’s limitation period is invalid.
Bombay HC quashes Indusind Media’s reassessment, citing change of opinion and lack of double deduction proof, ruling in favor of the taxpayer.
Learn about the Bombay High Court’s decision in Crystal Pride Developers vs ACIT regarding reassessment beyond 4 years under Section 147 of the IT Act, emphasizing the necessity of disclosing material facts. Understand the legal implications and judicial precedents involved.
ITAT Ahmedabad held that CIT(A) rightly restricted disallowance on account of unexplained bank deposit and withdrawal under section 68 of the Income Tax Act to 0.3% of total Circular Trading Transaction. Accordingly, appeal of revenue dismissed.
It was held that in the original assessment under Section 143(1), the issue related to the deed of purchase of land was not looked into as the same was not reported in the assessee’s income before the Revenue.
Assessee then filed returns in response to the notice under Section 148, claiming a deduction under Section 80P. AO disallowed the deduction, stating that the returns were not filed within the due date under Section 139(1).
ITAT Mumbai held that notice under section 148 of the Income Tax Act issued after a period of six years is barred by limitation. Accordingly, assessment proceedings under section 147 is liable to be quashed.
