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...
The Tribunal ruled that only 8% of disputed purchases could be added where the assessee had disclosed corresponding sales and made payments through banking channels. Entire purchase disallowance was held to distort true business income.
The Tribunal ruled that capital gains on Transferable Development Rights must be computed after deducting the purchase cost of TDR from the sale consideration. The case was remanded because the assessee failed to submit documents before the AO earlier.
Gujarat High Court held that reassessment notices issued after scrutiny assessment were invalid because the Assessing Officer had already examined the Section 50C valuation issue during original proceedings. The Court ruled that reopening amounted to a mere change of opinion.
The Court invalidated the reassessment proceedings after finding the Section 148 notice to be barred by limitation. The ruling highlights that reassessment notices must strictly comply with statutory timelines.
Mumbai ITAT held that Section 69A cannot be invoked where loan transactions are fully routed through banking channels and recorded in regular books of account. The Tribunal deleted the addition despite Revenue alleging the transactions were accommodation entries based on third-party search material.
The Bangalore ITAT accepted the assessee’s explanation that medical issues and expiry of the digital signature certificate caused the delay in filing appeal. The Tribunal emphasized that procedural lapses should not deprive an assessee of an opportunity to contest major additions on merits.
The Hyderabad ITAT ruled that the CIT(A) could not delete unexplained cash deposit additions merely on the basis of submissions and audit reports without supporting documents proving business transactions.
TAT Chandigarh held that reassessment proceedings were invalid because the property was actually purchased from a different company than the one referred to in the recorded reasons. The Tribunal found absence of any live nexus between the assessee and the alleged incriminating material.
The ITAT Visakhapatnam held that a reassessment notice issued after expiry of six years for AY 2015-16 was barred by limitation under the first proviso to Section 149(1). The Tribunal ruled that the amended ten-year reopening period could not revive time-barred cases.
The Gujarat High Court set aside a Section 148 notice after finding no direct or indirect connection between the assessee and the seized third-party documents. The Court held that reassessment based on vague material and assumptions was unsustainable.
