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 Karnataka High Court Full Bench ruled that reassessment under Section 147 cannot be initiated merely because the Assessing Officer changes his opinion on the same material. The Court reaffirmed that reassessment requires tangible material showing escapement of income.
ITAT Jaipur held that additions for unexplained sales and investment could not survive once the CESTAT rejected allegations of clandestine removal of goods. The Tribunal deleted additions made under Sections 69A and 69C.
The ITAT observed that interest awarded under Section 28 of the Land Acquisition Act differs from ordinary interest under Section 34 and forms part of enhanced compensation. Therefore, taxation provisions relating to interest income were held inapplicable.
The Tribunal held that full disallowance of purchases was not justified where corresponding sales and quantitative stock records were accepted. ITAT sustained only estimated disallowance at 12.5% of disputed purchases.
ITAT Rajkot held that reassessment proceedings were invalid because the approving authority merely stated Yes, I am satisfied without independent application of mind. The Tribunal treated Section 151 approval as a mandatory procedural safeguard.
The Supreme Court refused to interfere with the Gujarat High Court ruling quashing reassessment proceedings where the assessee had disclosed all transactions in audited accounts and income tax returns. The Court left the question of law open.
Mumbai ITAT held that reassessment under Section 147 cannot be initiated merely by reviewing records already examined during original scrutiny. Absence of fresh tangible material made the reopening legally invalid.
The Mumbai ITAT held that the AO and CIT(A) failed to properly verify bank statements, credit card records, and company ledger accounts before making the addition under Section 68. The matter was restored for fresh examination and reconciliation of records.
The ITAT held that old unsecured loan balances carried forward from earlier years cannot automatically be treated as unexplained cash credits in a subsequent year.
The ITAT held that reassessment notices issued on 25.07.2022 were time-barred since the Revenue had only one surviving day left under the Supreme Court’s Rajeev Bansal limitation formula.
