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...
Delhi High Court set aside the Section 148A(3) reassessment order against Vedanta, ruling that subsequent GST Department closure of the underlying ITC issue materially affects the basis of escapement of income. The matter was remanded for a fresh decision incorporating the GST clean chit on the same transaction.
ITAT Delhi ruled that a reassessment notice served under Section 148 on a foreign FPI (Singapore company) after its formal dissolution is void ab initio. This decision confirms that proceedings against a non-existent entity, even if served shortly after winding up, are invalid and cannot be cured by Section 292B.
Karnataka High Court held that issuance of reassessment notice under section 148 of the Income Tax Act after expiry of statutory period of limitation as prescribed under section 149 of the Income Tax Act is liable to be quashed. Accordingly, petition allowed.
The Karnataka High Court set aside the reassessment proceedings, including Section 148A and consequential penalty orders, ruling they were initiated without jurisdiction. The court found that the jurisdictional AO issued notices outside the scope of Section 151A, violating the CBDT’s faceless scheme.
The Kolkata ITAT deleted a Rs.31 crore unexplained cash credit addition under Section 68 on the sale of shares, ruling the AO mechanically relied on an investigation report without fresh evidence. The tribunal held that investments accepted by the Department in previous years and confirmed via an NCLT merger cannot be summarily taxed upon sale.
Karnataka High Court held that a reassessment notice issued on 7 May 2024 for AY 2017–18 was beyond six-year limitation period under Section 149 of Income Tax Act and therefore invalid.
The Andhra Pradesh High Court definitively ruled that Jurisdictional Assessing Officers (JAOs) lack the authority to issue reassessment notices (u/s 148A/148) after the Faceless Assessment Scheme (Section 151A) was notified in 2022. The court quashed the notices and orders, establishing that the faceless mechanism is the exclusive forum for initiating reassessment proceedings.
The ITAT Delhi set aside an addition of Rs.44.50 lakh, alleged as commission income on fund routing transactions, due to the CIT(A)’s failure to pass a speaking order. The Tribunal remanded the case to the AO for a fresh, de novo assessment to verify documents and provide reasoned findings, ensuring compliance with natural justice.
Reassessment based on a new Permanent Establishment (PE) ground, which was absent from the initial notice, was quashed by the Delhi High Court. The court ruled that tax authorities must adhere strictly to the grounds stated in the statutory notice.
Learn about various types of income tax assessments under Sections 143, 144, and 147, their procedures, time limits, and taxpayer rights under the Income Tax Act, 1961.
