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Income Tax : Explore key court rulings on reassessment under Section 148 post-2021 amendments, covering procedural changes, taxpayer rights, an...
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Income Tax : Explore the Bombay High Court's decision on reassessment under Section 147, balancing tax authority powers with procedural safegua...
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...
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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 Visakhapatnam ruled no penalty for voluntary income disclosure post-survey, rejecting AO's concealment claims....
Income Tax : 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 i...
Income Tax : ITAT Mumbai quashes reassessment against CLE Private Limited, ruling notice issued beyond TOLA's limitation period is invalid....
Income Tax : Bombay HC quashes Indusind Media's reassessment, citing change of opinion and lack of double deduction proof, ruling in favor of t...
Income Tax : Learn about the Bombay High Court's decision in Crystal Pride Developers vs ACIT regarding reassessment beyond 4 years under Secti...
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...
Corporate Law : Income Tax Gazetted Officers’ Association (W.B.) Unit Date: 02.02.2023. To The Principal Chief Commissioner of Income Tax, W...
Income Tax : Consequent to order passed by Allahabad High Court passing severe strictures and proposing to levy exemplary cost of Rs 50 lakhs i...
ITAT Bangalore held that interest due to delayed payment of custom duty is deductible u/s 37 of the Act as it is an accretion to the main payment and not a penalty and accordingly allowable as deduction.
Supreme Court’s verdict on Section 148 notices raises uncertainty in 90,000 cases. Learn its impact on assessment and pending tax proceedings.
Reassessment initiated under an invalid notice issued under Section 148 as there was no new material with AO after four years that the assessee had escaped assessment, therefore, additions amounting to ₹6.93 crores was deleted.
The petitioner is a legal heir of late Mahasukhlal Navnidhlal Parekh who filed the original return of income for the Assessment Year 2015-16 on 31.08.2015. Late Mahasukhlal Navnidhlal Parekh expired on 30.09.2019.
Kerala High Court held that show cause notice u/s. 148A in the name of deceased person untenable. Accordingly, writ petition allowed with direction to issue fresh notice under section 148A (b) of the Income Tax Act.
ITAT Delhi held that reasons recorded for exercising the jurisdiction is plagued with several defects of critical nature. Thus, due to lack of jurisdiction u/s. 147 of the Income Tax Act reassessment proceedings held as bad-in-law.
Once CESTAT had given a findings that the purchases in question were not bogus, then, additions proposed to be made on the basis of show-cause notice from Central Excise Directorate had no basis which the same could be sustained.
ITAT Ahmedabad held that self-assessment tax paid by the assessee losses its character as self-assessment tax once it got adjusted against the tax liability determined in regular assessment.
The assessee is an educational institution established on 17.08.1976 by Act 43 of the 1976 of Andhra Pradesh State Legislature Act and Governed by Act 4 of Andhra Pradesh Universities Act 1991.
Punjab & Haryana HC rules that Income Tax circulars can’t override statutory provisions, setting aside notices issued contrary to Income Tax Act.
