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Income Tax : Explore reintroduction of block assessments under Income Tax Act via Finance Act 2024, its implications, challenges, and way forwa...
Income Tax : Understand the compounding of offences under the Income-tax Act, 1961, including categories, charges, and procedures as per the Fi...
Income Tax : Learn about prosecution under IT Act sections 275A to 280, including penalties and conditions for launching prosecution....
Income Tax : Learn about the compounding of offences under direct tax laws, including eligible offences, competent authorities, and the process...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : Delhi High Court held that approval accorded in terms of section 153D of the Income Tax Act in a mechanical manner without applica...
Income Tax : Allahabad High Court dismisses the Revenue's appeal in PCIT Vs Subodh Agarwal, citing mechanical approval under Section 153D of th...
Income Tax : A search and seizure action u/s.132 of the Act was conducted in the assessee's case on 14.11.2019. AO observed that during the cou...
Income Tax : ITAT Patna held that addition towards unexplained income upheld since assessee failed to prove genuineness of transaction and cred...
Income Tax : ITAT Delhi held that addition based on documents seized from third party is liable to be set aside since assessing officer failed ...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
Delhi High Court held that approval accorded in terms of section 153D of the Income Tax Act in a mechanical manner without application of mind is unsustainable in law. Accordingly, appeal of revenue dismissed and assessment order quashed.
Allahabad High Court dismisses the Revenue’s appeal in PCIT Vs Subodh Agarwal, citing mechanical approval under Section 153D of the Income Tax Act.
A search and seizure action u/s.132 of the Act was conducted in the assessee’s case on 14.11.2019. AO observed that during the course of search action, a pen drive was found from the cabin of the Head-Cashier.
ITAT Patna held that addition towards unexplained income upheld since assessee failed to prove genuineness of transaction and creditworthiness. Accordingly, appeal dismissed and addition upheld.
ITAT Delhi held that addition based on documents seized from third party is liable to be set aside since assessing officer failed to tie contact between seized material and the assessee company. Accordingly, appeal allowed and addition deleted.
Gujarat High Court held that notice issued under section 148 of the Income Tax Act after approval of resolution plan by the adjudicating authority under Sub-section (1) of Section 31 of the IBC is liable to be quashed and set aside.
Kerala High Court held that court cannot interfere with order of settlement commission if challenge is merely that Settlement Commission has chosen to take one of two possible views that can be legally taken in respect of an issue. Accordingly, writ disposed of.
Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incriminating material for reopening assessments.
ITAT Bangalore held that ignorance of law is not a ground for condonation of delay, hence delay of 879 days in filing of an appeal without any sufficient reason shown is not condonable. Accordingly, appeal dismissed.
ITAT Raipur held that AO has passed the final assessment order u/s.143(3) r.w.s. 153B(b) of the Act without seeking a prior approval of the same by the Jt. CIT u/s. 153D of the Income Tax Act and hence the order so passed is liable to be quashed.
