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...
Delhi High Court quashes reassessment notice for AY 2015-16, citing Supreme Court’s Rajeev Bansal judgment and Revenue’s concession on notices issued post-April 2021.
Delhi High Court held that Larger Bench of Delhi High Court will decide the whether provisions of section 149(1)(c) of the Income Tax Act inserted by virtue of the Finance Act, 2012 will be applicable retrospectively in concluded assessment.
The present petition is filed assailing the Communication dated 03 February 2014 issued by the Respondent No. 3 rejecting the Petitioner’s Application dated 15 December 2011 for seeking amendments of the earlier granted approval dated 17.11.2006.
ITAT Pune held that entire cash deposits into the bank account cannot be treated as income, only profit element embedded in the same should be brought to tax. Thus, addition adopting 8% profit rate confirmed. Appeal of assessee is partly allowed.
Mumbai ITAT quashes reassessment for Sonali Dharmendra Mhatre, ruling it time-barred under Section 149(1)(b) as the escaped income was below the Rs. 50 lakh threshold.
Rajasthan High Court upholds reassessment where investment source, including mother’s contribution, was inadequately explained by the petitioner.
CESTAT Delhi held that re-assessment will come to an end once the goods are exported in case of Shipping Bills and once the officer gives an order clearing the goods for home consumption in case of imports.
Delhi High Court held that where notice is sent electronically, the date of dispatch of e-mail is to be considered as date of issue of notice and date of digital signature is irrelevant. Accordingly, petition dismissed.
ITAT Jaipur dismisses appeals by Chandalal Verma, confirming income additions for AY 2011-12 and 2017-18, citing Section 292C presumption on seized documents.
Karnataka High Court held that assumption of jurisdiction under section 147 of the Income Tax Act untenable since mandatory requirement of section 149(1)(b) of the Income Tax Act not complied. Accordingly, writ petition allowed and notice u/s. 148 quashed.
