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 why a consolidated satisfaction note for multiple assessment years is legally invalid under Section 153C of the Income Tax A...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : The ITAT upheld deletion of Section 68 additions where identity, creditworthiness, and genuineness of unsecured loans were proved ...
Income Tax : The Tribunal held that revision under Section 263 cannot be exercised over a search assessment completed under Section 153C with p...
Income Tax : The dispute centered on jurisdiction to assess under Section 153A. The Tribunal clarified that Kabul Chawla principles do not bar ...
Income Tax : The approving authority merely stated that records were perused without demonstrating scrutiny. The Tribunal held that mechanical ...
Income Tax : Additions under section 153A were deleted as they rested only on an unowned diary without proof of authorship or corroborative evi...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
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.
ITAT Chennai held that revisionary proceedings under section 263 of the Income Tax Act for invoking penalty provisions u/s. 270A(9)(e) without issue of intimation under section 143(1)(a) of the Income Tax Act is unjustifiable and untenable in law.
Budget 2025 revises block assessment rules for search cases, covering undisclosed income, assessment procedures, penalties, and time limits under I-T Act Sections 158B-158BG.
Delhi High Court held that deeming income from house property @50% merely on the assumption that assessee was signatory to the instrument is untenable in law since assessee doesn’t own beneficial interest in the property.
Addition made under Section 69A for an alleged unexplained cash loan was not justified as assessee provided evidence of receiving the loan through banking channels and not through cash.
ITAT Ahmedabad held that entire assessments has been restored to the file of CIT(A) for de novo consideration since assessee was found to be absolutely non-cooperative and took every step to thwart/stonewall the assessment proceedings.
