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...
Madras High Court held that the recording of satisfaction note is pre- requisite before initiating proceeding under section 153C of the Income Tax Act. In absence of the same, assessment order is liable to be quashed. Accordingly, appeal of the revenue is dismissed.
The assessee is a private limited company. Post completion of assessment u/s. 143(3)/153A, reassessment u/s. 148 was initiated. However, AO accepted the contention of the assessee and passed order u/s. 143(3)/ 147.
Madhya Pradesh High Court condones delay in Neel Kumar Ajmera’s ITAT appeal, setting aside dismissal due to limitation and remanding the case for fresh adjudication.
During the course of a survey, it was seen that the assessee had defaulted in deducting tax at source on interest paid to AGE Patel Joint Venture (JV) in Financial Year (FY) 2016-17 on Mobilisation advance and Machinery advance.
ITAT Hyderabad held that addition on the basis of loose papers and documents found from the premises of third party is not tenable in the eye of law. Accordingly, appeal of the revenue is dismissed since addition not based on substantial evidence.
Gauhati High Court held that addition merely on the basis of retracted statement without any other relied upon evidence/ material is not sustainable since retracted statement cannot be termed as incriminating material. Hence, appeal of revenue dismissed.
Delhi High Court held that Section 260A of the Income Tax Act refrains from incorporating a specific provision permitting the filing of a cross-objection. Thus, cross objection would not be maintainable.
ITAT Jaipur sets aside Resonance Eduventures assessment orders, citing mechanical approval by Addl. CIT without proper application of mind as mandated under Section 153D.
Kerala High Court held that section 12AA empower the Principal Commissioner to pass order cancelling registration granted u/s. 12A of the Income Tax Act and for ordering the same Principal Commissioner is not required to await decision of Assessing Authority.
ITAT Mumbai held that developer is entitled for deduction under section 80-IA of the Income Tax Act for carrying out development work by entering into a contract with the Government. Accordingly, appeal allowed.
