Income Tax : Judicial rulings clarify that satisfaction for initiating action against other persons in search cases must be recorded promptly. ...
Income Tax : Courts are divided on whether the DRP-specific deadline under Section 144C(13) overrides the general assessment time bar in Sectio...
Income Tax : CBDT issues new compounding guidelines simplifying process, eligibility, charges, and procedures under the Income-tax Act from Oct...
Income Tax : A summary of prosecution offences under Chapter XXII of the Income Tax Act (Sections 275A to 280), detailing the rigorous imprison...
Income Tax : CBDT's new Compounding of Offence Guidelines (2024) simplify the process but maintain strict compliance rules. Learn about eligibi...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : The case examined whether compensation paid to exit prior agreements was a sham arrangement. The Tribunal ruled it was a valid bus...
Income Tax : The Tribunal held that loan repayment cannot be treated as unexplained cash credit under section 68. The addition was deleted as i...
Income Tax : The issue was whether a notice granting less than the statutory minimum time is valid. The tribunal held that giving less than 7 d...
Income Tax : Reassessment proceedings was invalid for a notice issued beyond three years without the sanction of the prescribed higher authorit...
Income Tax : The Tribunal held that unsigned excel sheets without supporting evidence cannot justify additions. It ruled that absence of corrob...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
Madras High Court held that Tax Recovery Officer needs to lift attachment of the property based on orders passed by the highest fact finding authority has attained finality and there is no payment pending on the part of the assessee.
ITAT Dehradun held that penalty u/s 271(1)(c) was invalid as the AO failed to specify whether it was for concealment or inaccurate particulars, showing lack of application of mind.
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).
CBDT issues new compounding guidelines simplifying process, eligibility, charges, and procedures under the Income-tax Act from October 17, 2024.
ITAT Delhi held that no addition can be made u/s 153A of the Income Tax Act without there being any incriminating material relating to unabated assessment year. Therefore, additions made in the assessment order is deleted and appeal is partly allowed.
Tribunal upheld CIT(A)’s view that assessments for AYs 2013-14 to 2015-16 fell outside permissible six-year block under Section 153C. Additions made by AO were held time-barred and without jurisdiction.
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.
ITAT Delhi set aside 43 search assessments involving a business group and its associates, ruling that the mass approvals granted under Section 153D were invalid.1 The Tribunal held that approving 23 draft orders within 24 hours without proper review constitutes a mechanical, non-judicial exercise of power.
A summary of prosecution offences under Chapter XXII of the Income Tax Act (Sections 275A to 280), detailing the rigorous imprisonment and fines for serious defaults, including wilful tax evasion, failure to remit TDS/TCS, non-compliance during search, and fraudulent property disposal.
ITAT Mumbai quashed search assessments under Section 153C, ruling that a single, non-speaking, and mechanical approval granted under Section 153D for multiple assessment years is invalid.
