Income Tax : Budget 2025 revises block assessment rules for search cases, covering undisclosed income, assessment procedures, penalties, and ti...
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 : Kerala High Court held that section 12AA empower the Principal Commissioner to pass order cancelling registration granted u/s. 12A...
Income Tax : ITAT Mumbai held that developer is entitled for deduction under section 80-IA of the Income Tax Act for carrying out development w...
Income Tax : ITAT Chandigarh upholds CIT(A) order, deleting additions under Section 153A, citing absence of incriminating material found during...
Income Tax : Addition based on the District Valuation Officer’s (DVO) report, which exceeded the stamp duty value was upheld as assessee ch...
Income Tax : ITAT Lucknow rules that additions under Section 68 require incriminating evidence. ₹2 crore cash credit addition against Ocean D...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
ITAT Kolkata rules that no additions can be made in completed assessments under section 153A without incriminating material seized during the search.
Calcutta High Court dismisses appeal in PCIT Vs Sawankumar T Jajoo, upholding ITAT’s order on long-term capital gains from penny stocks.
Delhi High Court held that ITAT cannot address the ground which remained unaddressed by CIT(A). Accordingly, matter restored back to CIT(A) to decide on the grounds that were not decided.
ITAT Delhi held that orders passed based on illegal assumption of jurisdiction on the basis of satisfaction note which was recorded without application of mind and quite in a mechanical manner is liable to be set aside. Accordingly, addition deleted.
Delhi High Court held that income tax authorities cannot retain seized cash once time period for framing an assessment under section 153A of the Income Tax Act has expired and there is no outstanding demand. Accordingly, petition disposed of.
ITAT Delhi held that merely seizure of share certificate cannot be considered as incriminating material on its own unless other corroborative evidence are found during the search. Accordingly, appeal of the department dismissed.
ITAT Delhi deletes Rs. 13.16 lakh addition in Aashiyana Civil Contractors P. Ltd. case for AY 2011-12, citing lack of incriminating material in unabated assessment.
ITAT Mumbai held that in the matter of adjustment of seized cash against self-assessment tax liability restored the matter back to file of AO for re-verification of application filed by the assessee. Accordingly, appeal partly allowed.
Delhi High Court held that uploading of information by the investigation wing of the Income Tax department would not be a substitute for recording of a satisfaction note by the AO of searched person for handing over material to AO of person other than searched person.
ITAT Delhi held that revisionary proceedings under section 263 of the Income Tax Act would not survive since the assessment order is held to be non-est. Thus, appeal dismissed as having become infructuous.
