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 ITAT held that reassessment notices issued after the surviving limitation period prescribed by the Supreme Court were invalid. Consequently, the reassessment proceedings and assessment orders were quashed for lack of jurisdiction.
The ITAT held that the assessment was invalid because it was completed by an Income Tax Officer who lacked pecuniary jurisdiction under CBDT Instruction No. 1/2011. The assessment was quashed without examining the additions on merits.
The Gujarat High Court quashed a reassessment notice issued under Section 148 after finding that a loose paper seized from a third party did not establish any live link with the assessee. The Court held that vague and non-specific material cannot justify reopening of assessment.
The Gujarat High Court held that reassessment cannot be sustained merely because of high-value bank transactions without evidence of escaped income. It quashed the Section 148 notices and Section 148A(3) orders after finding that the transactions were recorded in audited books and adequately explained.
The ITAT Hyderabad held that the entire sale consideration could not be assessed as short-term capital gains without examining the cost of acquisition and improvement. It remanded the matter to the Assessing Officer for fresh adjudication after considering the available records.
ITAT Pune held that the reassessment proceedings were invalid because the notice under Section 148 was approved by the Principal Commissioner instead of the authority prescribed under Section 151(ii). The reassessment order was declared void ab initio.
ITAT held that interest earned by a co-operative credit society from deposits with a co-operative bank remained attributable to its business of providing credit facilities. The deduction under Section 80P(2)(a) was therefore allowed.
ITAT Pune held that reassessment proceedings were invalid because the approval under Section 151 was granted by the Principal Commissioner instead of the competent authority prescribed by law. The notice under Section 148 and the order under Section 148A(d) were quashed.
The Supreme Court set aside High Court judgments quashing reassessment notices after noting that the Finance Act, 2026 introduced clarificatory amendments affecting the competence of Assessing Officers. The matters were remanded for fresh consideration, leaving all legal issues open.
The ITAT held that Section 68 could not be applied to sale proceeds received from investments already recorded in the books in an earlier year. While the reassessment was upheld, the additions towards alleged accommodation entries and commission were deleted.
