Income Tax : Understand Section 194S of the Income Tax Act on 1% TDS for Virtual Digital Asset transfers, including deductor rules, compliance,...
Income Tax : ITAT Mumbai quashes reassessment (AY 13-14, 14-15) as AO missed the Rajeev Bansal-mandated "surviving limitation." S. 149 prevails...
Income Tax : Analysis of the Rajeev Bansal Supreme Court ruling on reassessment approvals, clarifying complexities in Section 151 and its impac...
Income Tax : Explore key court rulings on reassessment under Section 148 post-2021 amendments, covering procedural changes, taxpayer rights, an...
Company Law : Overview of Section 149 of the Companies Act, 2013: Board composition, women directors, resident and independent directors' roles,...
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 : The Tribunal held that the reassessment notice issued on 26.07.2022 was beyond the permissible timeline under the surviving limita...
Income Tax : Mumbai ITAT held that reassessment notice issued under Section 148 for AY 2015-16 on 31.07.2022 was barred by limitation under Sec...
Income Tax : ITAT ruled that appellate powers under Section 251 are confined to assessment year under appeal. Directions to reopen completed as...
Income Tax : The Tribunal ruled that the Revenue must establish a direct connection between seized material and the assessee’s taxable income...
Income Tax : Hyderabad ITAT held that a notice issued under Section 148 after six years from the end of AY 2015-16 was invalid. The Tribunal ru...
Custom Duty : Learn how to file and process Bill of Entry amendments at Jawahar Lal Nehru Custom House. Get insights on self-approval and office...
The ITAT Delhi has dismissed a reassessment appeal, ruling that a Section 148 notice issued on March 31 but dispatched on April 20 was invalid. The delay in service rendered the assessment void as it fell under new, amended law.
ITAT quashes reassessment against Mauritius-based FPI, ruling that sanction from correct authority under section 151 was mandatory.
Export incentives in terms of Notification No.19/2015-20 dated 17.08.2021 couldn’t be denied for inadvertent error in shipping bill as merely because of a software system was introduced, it would not mean that the software would override the principles of natural justice and rights of the parties.
CESTAT Hyderabad held that section 17(4) of the Customs Act is not made for reopening or reviewing any issued final assessment order. Thus, adjudicating authority not empowered to review his final assessment order without statutory appeal.
ITAT Chennai held that assessments under section 153C of the Income Tax Act stands vitiated in law since there is complete absence of proper and independent satisfaction as required u/s. 153C. Accordingly, appeal allowed.
ITAT Kolkata has ruled a reassessment notice time-barred for income below ₹50 lakh. The tribunal found the notice was issued beyond the three-year limit for AY 2018-19.
Delhi High Court set aside reassessment for AY 2018-19 holding that escaped income was under ₹50 lakh and did not meet conditions of Section 149(1A). AO’s attempt to club multiple years without proving a singular asset or event was rejected.
The ITAT Ahmedabad set aside a reassessment order for Dalpat Baraiya, ruling that approval from the wrong authority invalidated the entire proceeding.
Delhi High Court sets aside Section 148 notice against Sanjay Bansal for AY 2016-17, citing it as time-barred. Court rejects Revenue’s extension arguments.
ITAT Hyderabad held that issuance of reassessment notice u/s. 148 and 148A of the Income Tax Act after 01/04/2021 without obtaining approval from the specified authority as per amended provisions of section 151 is invalid and liable to be quashed.
