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...
The Tribunal held that member-based receipts may be exempt under the principle of mutuality. The matter was remanded to verify whether contributors and beneficiaries are identical.
Investments made by a foreign company could not be attributed to a non-resident individual shareholder without lifting the corporate veil. AO could not tax these investments in the assessee’s hands without proving the funds were routed personally by him.
The issue was whether approval under Section 151 granted without reasons is valid. The Tribunal held mechanical approval invalid, rendering the reassessment void and unsustainable.
The Tribunal found that the AO wrongly taxed an investment in an incorrect assessment year. Evidence showed the purchase occurred earlier than the year under consideration. The decision highlights the importance of correct year-wise taxation.
The issue was whether cash deposits from business sales could be treated as unexplained income under Section 68. ITAT held that recorded cash sales forming part of turnover cannot be taxed as unexplained credits.
The Tribunal held that adding both cash deposits and withdrawals may result in double taxation. The case was remanded for fresh examination with proper opportunity.
The Tribunal held reopening valid as tangible material showed undisclosed capital gains. It ruled that execution of a registered sale deed triggers tax liability even if consideration is disputed.
The tribunal held that taxing entire gross receipts is unsustainable and only profit embedded in receipts should be taxed. However, the matter was remanded as fresh evidence was admitted without giving the AO an opportunity to verify.
The case involved reopening of assessment based on issues already examined during scrutiny. The Court held that reassessment without new material is invalid. It ruled that reopening on the same facts amounts to impermissible action.
The tribunal held that reopening of assessment was invalid due to invocation of the wrong Explanation under Section 147 despite a completed assessment under Section 143(3).
