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...
Delhi High Court held that that no notice under section 148 of the Income Tax Act shall be issued if four years “but not more than six years” have elapsed from the end of the relevant assessment year.
ITAT Kolkata held that additions u/s. 153A of the Income Tax Act could only be made on the basis of seized material found during the course of search. Thus, making additions in regular assessment without any incriminating material relating to said addition not justified.
ITAT Ahmedabad held that addition merely on the basis of retracted statement without any incriminating material seized from assessee’s premises is unsustainable in law and liable to be quashed.
Delhi High Court held that in case of search, block period of ten years for search assessment, would not be attracted in case the search has taken place before 1st April 2017.
ITAT Delhi held that addition towards excess stock merely on the basis of recorded statements and without any corroborative evidence of unaccounted sales is untenable in law. Accordingly, addition deleted.
Bombay HC dismisses Revenue’s appeal in PCIT Vs Timblo Private Limited, stating additions based on seized diary without corroborative evidence are unsustainable.
Kerala High Court held that when a property kept not for trade, but for an investment purpose is sold, the gain has to fall under head ‘capital gains’ and such transaction is only taxable under capital gain and not under adventure of trade.
ITAT Delhi held that in respect of assessment proceedings u/s. 153C of the Income Tax Act, block period of six assessment years has to be reckoned from date of receipt of seized documents.
Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A of the Income-tax Act, introduced to streamline assessments and reduce litigation.
ITAT Delhi held that approval granted u/s. 153D of the Income Tax Act by the superior authority in mechanical manner has no legal sanctity in the eyes of law. Thus, assessment order in consequence to such inexplicable approval lacks legality.
