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 : The Bombay High Court held that proceedings under Section 153C were barred by limitation as the assessments were not completed wit...
Income Tax : The ITAT held that reassessment notices issued after the surviving limitation period prescribed by the Supreme Court were invalid....
Income Tax : ITAT Chennai held that the reassessment notice issued on 02.04.2022 for AY 2015-16 was barred by limitation under Section 149, fol...
Income Tax : The Gujarat High Court held that after considering the ledger entries correctly, the alleged escaped income was only ₹45 lakh, b...
Income Tax : The Telangana High Court permitted the petitioner to withdraw the writ petition challenging the reassessment order passed under Se...
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 held that drawback benefit is duly available on export of gold dore bars on payment of only additional duty under section 3 of the Customs Tariff Act at the time of import.
Bombay High Court held that Para 3(a) of Circular No. 36/2010 Customs dated 23.09.2010 imposing time limits for amending shipping bills is ultra vires of Section 149 of the Customs Act, 1962.
ITAT Delhi held that the date of dispatch from the adjudicating officer is relevant for determining the limitation period. Accordingly, assessment order dispatched beyond time limit prescribed u/s. 153(1) is barred by limitation.
CESTAT Bangalore held that section 149 of the Customs Act, 1962 allows amendment of a Bill of Entry after the clearance of the goods only on the basis of documentary evidences which were in existence at the time the goods were cleared for home consumption. In absence of the same, the amendment is unjustified.
Analysis of the Shiv Charan Vs ITO case by ITAT Delhi, where a fresh adjudication was ordered on income tax addition u/s 68, focusing on procedural fairness.
In present facts of the case, it was observed by the Tribunal that only Assessee could sign Form number 35A prescribed under Income Tax (Dispute Resolution Panel) Rules, 2009.
ITAT Jaipur held that in absence of a valid satisfaction note the notice issued under Section 153C of the Income Tax Act 1961 is bad in law. Resultantly the assessment order passed u/s 143(3) r.w.s. 153C of the Act is void ab initio and liable to be quashed.
Analysis of Himanshu Infratech vs ITO case from Delhi High Court. Quashing of reassessment due to delay in issuance notice u/s 148A(b) because of technical glitches on ITBA.
Gemini Overseas Limited filed a writ petition challenging the order passed under Section 148A(d) of the Income Tax Act, 1961, for the assessment year 2019-20. The petitioner contended that the order was passed without approval from the “Specified Authority” as required under Section 151(ii) of the Income Tax Act, 1961.
CESTAT Chennai held that when no time limit is prescribed under Section 149 of the Customs Act, 1962 the department cannot reject the request for conversion of shipping bill.
