Income Tax : The guide provides detailed rules for VDA transfers executed through exchanges, brokers, and payment gateways. It identifies who i...
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 : Gujarat HC quashed Section 148 reassessment as it was issued beyond Section 149 limitation, holding Section 152(3) applies to sear...
Income Tax : ITAT Mumbai quashed a Section 148 notice issued after the limitation under the first proviso to Section 149, holding the reassessm...
Income Tax : Receipts earned by a German resident individual from rendering managerial, consultancy and business development services outside I...
Income Tax : The Madras High Court held that delayed transfer of seized documents under Section 132(9A) did not invalidate notices issued under...
Income Tax : The Tribunal ruled that an Investigation Wing report alone cannot justify an addition under Section 68 without independent verific...
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...
CESTAT Delhi held that refund claim of excess CVD paid after completion of one year from date of payment of duty as well as the date of relevant judgement is barred by limitation. Accordingly, appeal of assessee dismissed.
ITAT Hyderabad held that reopening of assessment is invalid in as much as the approval/ sanction under section 151 of the Income Tax Act is granted in a mechanical manner. Further, reasons for reopening are based on on-application of mind and borrowed satisfaction. Accordingly, reopening quashed and appeal allowed.
The ITAT Delhi allowed the appeal of Sunita Salhotra, quashing the Section 148 notice for AY 2015-16 as barred by the statutory limitation period that expired on March 31, 2022. The Tribunal relied on the Revenue’s concession in the Supreme Court’s Rajiv Bansal case regarding notices issued for this AY on or after April 1, 2021.
ITAT Pune annulled reassessment proceedings, holding that approval by PCIT instead of PCCIT for notices issued after three years was contrary to Section 151.
ITAT Delhi ruled that WhatsApp chats recovered during a search, if corroborated by context and left unrebutted by the assessee, create a statutory presumption of correctness under Section 292C, leading to a sustained addition of ₹9 lakh as unexplained money. The Tribunal also directed the allowance of an 80TTA deduction claim for the abated assessment year (AY 2018-19).
The ITAT Delhi quashed reassessment orders for three assessment years (AY 2011-12, 2015-16, 2016-17) based on fundamental legal flaws. The ruling confirms that reassessments are invalid if initiated on wrong or substituted reasons, if they are time-barred (following the Supreme Court’s concession in the Rajeev Bansal case), or if they proceed without valid statutory sanction from the competent authority.
ITAT Kolkata quashed the reopening assessment for AY 2015-16, ruling the Section 148 notice issued on 31.07.2022 was time-barred. This decision strictly follows the Rajeev Bansal (SC) judgment, which held that the TOLA extension for reopening notices did not apply to AY 2015-16 beyond 31.03.2021.
ITAT Delhi quashed reassessment proceedings for AY 2013-14 and 2015-16, ruling that notices issued after the extended final deadline of June 24, 2022, were time-barred under Section 149, following the Rajeev Bansal ruling.
ITAT Delhi dismissed the Revenue’s appeal, ruling that the assessment under Section 153C was time-barred because the block period must be calculated from the date the Assessing Officer (AO) of the non-searched person received the seized material. The ruling confirms that the date of the original search is irrelevant for non-searched persons.
Gujarat High Court held that reopening of assessment based on direction of CIT(A) cannot be sustained since the period of limitation prescribed under section 149(1) of the Income Tax Act has expired. Accordingly, reassessment notice u/s. 148 quashed and petition is allowed.
