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 : Delhi High Court held that approval accorded in terms of section 153D of the Income Tax Act in a mechanical manner without applica...
Income Tax : Allahabad High Court dismisses the Revenue's appeal in PCIT Vs Subodh Agarwal, citing mechanical approval under Section 153D of th...
Income Tax : A search and seizure action u/s.132 of the Act was conducted in the assessee's case on 14.11.2019. AO observed that during the cou...
Income Tax : ITAT Patna held that addition towards unexplained income upheld since assessee failed to prove genuineness of transaction and cred...
Income Tax : ITAT Delhi held that addition based on documents seized from third party is liable to be set aside since assessing officer failed ...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
Delhi High Court held that re-assessment proceedings set aside as assessment in respect of the AY 2015-16 falls beyond the period of ten years as stipulated u/s. 149 read with Section 153C of the Income Tax Act.
ITAT Delhi held that assessment order under section 153A of the Income Tax Act quashed as assessment has been framed not based on any incriminating material found during the course of search.
ITAT Lucknow rules no additions allowed under sections 153A or 153C without incriminating evidence during search in Smt. Shashi Agarwal’s case.
Delhi High Court quashes reassessment notices in ARN Infrastructures case, citing limitation under Section 149 and Supreme Court’s Abhisar Buildwell judgment.
Assessee filed an appeal concerning the penalty of ₹20,29,394 levied under Section 271AAA for AY 2008-09. It had initially declared a total income of ₹23,62,74,550 in its Return of Income (ROI).
The evidences relied upon by AO in the form of excel sheets did not constitute adequate evidence to draw adverse inference against tassessee, in the absence of any other corroborative evidences.
ITAT Jaipur allowed Naval Kishore’s appeal, ruling that no additions could be made under Section 153A, as no incriminating material was found during the search.
ITAT Ahmedabad held that self-assessment tax paid by the assessee losses its character as self-assessment tax once it got adjusted against the tax liability determined in regular assessment.
ITAT Delhi held that error of bringing an amount of Rs.12,10,692/- to tax instead of the undisclosed amount of Rs.27,00,00,000/- is assessment made without proper enquiry and hence assessment order is erroneous and prejudicial to revenue so revision order u/s. 263 sustained.
The assessee is a contractor who is involved in the construction of roads, bridges, runways and tunnels etc. The assessee is also engaged in the business of operating petrol bunks, cinema theatres and manufacture of blue metals and ready-mix concrete.
