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...
ITAT Ahmedabad held that restriction of addition to Rs. 1.45 crore from Rs. 9 crore towards unexplained cash credit on account of share application money by CIT(A) justified as the same was based on evidences.
ITAT Bangalore held that imposition of penalty under section 270A of the Income Tax Act on account of underreporting of income not justified as failing to furnish income tax return was bona fide.
ITAT Delhi held that addition towards undisclosed investment in shares and unsecured loans merely based on observation made by DCIT without independent inquiry by AO is unjustified and hence the addition is liable to be deleted.
ITAT Cochin held that treating section 153D of the Income Tax Act as pari-materia to section 148 mechanism without any such indication in the Act is unjustified and hence matter remanded back to CIT(A).
ITAT Delhi held that assessments completed u/s. 153A, making addition u/s. 68 of the Income Tax Act, without any incriminating material found during the search action is unsustainable in law. Accordingly, addition deleted.
Explore the structure of income tax reassessment provisions, including Sections 147, 148, 148A, 149, and 151, covering notice issuance, procedures, and time limits.
Since the addition pertained to the “receipt of money” from the sale of flats by the assessee and these amounts did not represent the actual receipts in the hands of the assessee, they could not be subjected to tax.
Explore the new reassessment provisions under the Finance Act, 2024, including updates to sections 148, 148A, 149, and 151, with simplified processes and revised timelines.
Since there was no failure on the part of assessee to fully and truthfully disclose material facts therefore, assessment under sections 147-148 was not valid as the specific provisions of Section 153C were deemed to take precedence over the general provisions of Section 147.
Delhi High Court held that entire assumption of jurisdiction u/s. 148 is based on a wholly erroneous view that payment made for acquiring mining rights is to be treated as income. Since, such payment is not income, reassessment action based on erroneous view quashed.
