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 : Bombay HC quashed Section 148 reopening for AY 2013-14, holding Section 43CA was inapplicable and stamp duty valuation alone could...
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 : 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...
Assessee had deposited Rs.2,25,00,000/- during the demonetization period in the bank account and explained the reason of the cash deposit, hence he had discharged the onus and prove the genuineness of the transaction.
Upon further examination of the assessee’s bank statements, the Assessing Officer observed that significant funds were being transferred in and out to various parties.
The assessee is an individual and engaged in the business of retail milk selling. For the relevant AY 2012-13, the assessee did not originally file a return of income, as the total income was below the basic exemption limit under the Act.
Punjab and Hayrana High Court invalidates IT notices issued under Section 148 due to lack of faceless assessment, aligning with previous judgments.
ITAT Lucknow ruled that additions under Section 56(2)(vii)(b) are unsustainable without a valuation officer’s reference, directing deletion of ₹2.14 crore addition.
ITAT Mumbai held that notice issued under section 148 of the Income Tax Act and procedure adopted being per se illegal hence the notices deserves to be set aside/ quashed.
In Buniyad Chemicals Ltd. Vs ACIT, ITAT Mumbai restricts the addition of commission on accommodation entries to 0.15% of deposits, addressing assessment disputes.
ITAT Ahmedabad remands case to DRP, allowing appeal on the grounds of curable defects in Form 35A submitted by Rajendra Ramjibhai Patel.
Delhi High Court quashes reassessment notices in ARN Infrastructures case, citing limitation under Section 149 and Supreme Court’s Abhisar Buildwell judgment.
The power to reassess can be invoked only on the basis of material that may be pertinent to a particular AY, that principle would pale into insignificance where the assessee fails to assert a change or a fundamental alteration of the facts which are asserted to have remained unaltered.
