Income Tax : This document provides a complete reference on compounding of offences, including application procedures, offence-wise charges, re...
Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...
Income Tax : The FAQs explain the prosecution provisions under the Income-tax Act, covering offences such as tax evasion, non-payment of TDS/TC...
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 : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : ITAT Delhi quashed a Section 153C assessment, holding that a consolidated and defective satisfaction note invalidated jurisdiction...
Income Tax : ITAT held that a registered sale deed without corroborative evidence is not incriminating material and cannot support additions in...
Income Tax : ITAT held reassessment under Sections 147/148 invalid because it was based on a pre-1 April 2021 third-party search, requiring pro...
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 : ITAT held that penalty under Section 271D cannot survive where the Assessing Officer failed to record satisfaction in the assessme...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
The Tribunal affirmed the CIT(A)’s order annulling assessments because the search was not conducted in the assessee’s name. It also noted that the Revenue’s appeals were not maintainable due to the low tax effect.
The ITAT Hyderabad held that an uncorroborated loose sheet could not justify an addition under Section 69 for alleged on-money payment. The Tribunal upheld deletion of the addition as no independent evidence supported the Revenue’s case.
ITAT Jaipur held that assessments initiated under Section 153C were time-barred under every possible computation of limitation. The assessment orders were declared void ab initio and quashed.
ITAT Bangalore held that once a search under Section 132 was conducted, the assessment for the relevant year had to proceed under Section 147/148 in accordance with the post-2021 statutory scheme.
ITAT Hyderabad held that an addition under Section 69 cannot be sustained solely on the basis of an uncorroborated loose sheet. The Tribunal ruled that independent evidence is necessary to establish alleged on-money payments.
The Tribunal held that the entire unaccounted turnover from alleged on-money receipts cannot be treated as taxable income. It ruled that reasonable hidden expenditure must be considered while estimating profits.
ITAT sustained the adoption of fair market value under Section 50C after finding that seized cash represented on-money from property transactions. The Tribunal upheld the valuation determined through the DVO process.
The Kerala High Court remanded the matter after finding that the ITAT failed to expressly adjudicate the challenge to the validity of approval under Section 153D. The ruling underscores the need for tribunals to address every material issue raised before them.
ITAT Ahmedabad upheld reassessment proceedings after finding that seized diaries recorded unaccounted cash transactions exceeding prescribed limits. The Tribunal held that statutory conditions for reopening were satisfied.
The Tribunal ruled that Section 153C requires the AO of the other person to independently assess whether seized documents have a bearing on that person’s income. A mechanical satisfaction note based solely on another officer’s communication was held invalid.
