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 : Judicial rulings clarify that satisfaction for initiating action against other persons in search cases must be recorded promptly. ...
Income Tax : The High Court held that reassessment proceedings for AY 2013-14 were time-barred after computing the surviving limitation as clar...
Income Tax : Budget 2026 introduces sweeping retrospective amendments affecting limitation, reassessment jurisdiction, DIN validity, and TPO ti...
Income Tax : The new reassessment framework mandates enquiry, hearing, and a reasoned order before reopening. Courts now test jurisdiction on p...
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...
Corporate Law : Non- extension of the Time Barring Date for assessment of reopened cases and issuance of the notices for reopening – difficu...
Income Tax : The ITAT Amritsar held that a valuation report by itself cannot justify addition under Section 69 without evidence of extra paymen...
Income Tax : The Court held that the petitioner had no connection with the entities or individuals from whose devices the disputed material was...
Income Tax : Court upheld the validity of the Section 148 notice but set aside the assessment order after finding that notices were sent to an ...
Income Tax : Tribunal reiterated that credits brought forward from earlier financial years cannot ordinarily be taxed under Section 68 in subse...
Income Tax : The Delhi High Court held that reassessment proceedings cannot be sustained on changing allegations introduced after issuance of n...
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 : 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 : CBDT directed that cases reopened u/s 147/148A in consonance with Judgement of SC in case of UoI vs. Ashish Agarwal & CBDT instruc...
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 Vishakhapatnam held that reopening notice u/s. 148 being issued beyond period of three years on the basis of approval u/s. 151(ii) of the Income Tax Act obtained from Pr. Commissioner of Income Tax [Pr. CIT] instead of Principal Chief Commissioner or Principal Director General is invalid and liable to be quashed.
The tribunal held that milk procurement and sale by a charitable society were incidental to its primary object of helping small and marginal farmers, and exemption under Section 11 could not be denied.
Bombay High Court held that reopening of assessment by issuance of notice under section 148 of the Income Tax Act issued much after the surviving period is barred by limitation. Accordingly, notices are set aside and petition is allowed.
The Tribunal held that cash deposits arising from recorded pharmacy sales during demonetisation cannot be added under section 68 when turnover is accepted and duly taxed.
ITAT Chennai held that issuing a notice under Section 148A(b) with only one day to respond violates the statutory minimum of seven clear days. All consequential proceedings, including the 148 notice and reassessment, were quashed as non-est, while substantive additions were left open as academic.
Delhi HC held that issuing multiple reassessment notices under Section 148 based on same ‘reasons to believe’ is valid. Petition challenging notices for A.Y. 2021-22 was dismissed.
The High Court set aside reassessment proceedings after holding that notices issued by a Jurisdictional Assessing Officer violate the faceless assessment mandate under Section 151A.
The ITAT restored the case for fresh adjudication, noting that the assessee filed a return showing a loss and was not given proper opportunity to be heard before dismissal of appeal.
ITAT held that reassessment proceedings are invalid where the Assessing Officer failed to grant the minimum seven days’ time under section 148A(b), making the entire process unsustainable.
Holding the issue covered by binding precedent, the Court ruled that reassessment proceedings not conducted in a faceless manner are unsustainable in law.
