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...
In this writ petition filed under Articles 226/227 of the Constitution of India, the petitioner has prayed for issuance of a direction to the respondents to drop the assessment proceedings initiated against a dead person after his death.
The ITAT Ahmedabad in the case of Waves Food Private Limited vs. DCIT held that reopening of assessment to disallow provision for damaged goods returned is not valid as the issue had been specifically dealt by AO during the course of regular assessment and such disallowance by reopening
ITAT Mumbai held in the case of DCIT v. Rama Capital and Financial Services Ltd. that without any substantive ground reopening cannot be done on the basis of change of opinion. It Further held that without any supporting material, the A.O. cannot substitute market value.
The facts on this issue are that the original assessment was completed by the ACIT, Circle-1, Dehradun u/s 143(3) of the Act. Thereafter a notice u/s 148 of the Act was issued on 31.03.2010. The reasons recorded by the Id. AO (copy has been placed
DCIT vs. M/s. State Farms Corporation of India Ltd. (ITAT Delhi) Reasons had been taken from the facts disclosed in the assessee’s balance sheet as well as reflected in the Profit & Loss account which were also before the AO at the time of original assessment
According to Section 151(1) proviso if the Assessing Authority who is below the rank of Assistant Commissioner or the Deputy Commissioner want to reopen the ‘case after the expiry of 4 years unless the Commissioner is satisfied that it is a fit case for issue of that notice. In the present case
Delhi High Court held In the case of The Principal CIT vs. Samcor Glass Ltd. & M/s Samtel Color Ltd. that it is a settled position of law that reopening of assessment beyond 4 years is not sustainable unless there was a failure by the Assessee to disclose any material particulars
In the case of Coperion Ideal Private Limited v. CIT, Delhi High Court while giving the decision in the favour of the assessee, held that there should be some tangible material available with the Revenue, whenever they want to conclude that Assessee have escaped Assessment.
In the case of CIT v Trend Electronics, Bombay Court held that before issuance of reopening notice for assessment, the Revenue have to furnish the reasons for it. Otherwise, the notice will be considered as bad in Law.
Delhi High Court held In the case of Oracle Systems Corporation vs. ADIT that it is clear that when a regular assessment is completed in terms of Section 143(3), a presumption can be raised that such an order has been passed upon a proper application of mind.
