Income Tax - Addition cannot be made on the basis of mere confidential information submitted before Settlement Commission without incriminating material found in search and seizure to support addition....
Read MoreIncome Tax - NEW REASSESSMENT PROCEDURE 1. Introduction: In the film JOLLY LLB, the judge, unforgettably played by actor Saurabh Shukla, in the concluding speech while delivering his judgment says: ‘But I am the judge. who knows what, what I feel, judgment cannot be given on that basis. I HAVE TO GIVE JUDGMENT ON THE BASIS OF EVIDENCE. […]...
Read MoreIncome Tax - rticle discusses about Appealable orders in case of appeal by the taxpayer, Appealable orders in case of appeal by the Commissioner, Appeal not to be filed by the department in certain cases, Time- limit for presenting appeal, Form and signature, Memorandum of cross objection, Documents to be submitted with appeal, Fees for filing the app...
Read MoreIncome Tax - Under the Act, the provisions related to income escaping assessment provide that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may assess or reassess or recompute the total income for such year under section 147 of the Act by issuing a […]...
Read MoreIncome Tax - Finance Bill 2021- Paradigm Shift In The Provisions Relating To Income Tax Search And Seizure Assessments And Income Tax Settlement Commission Introduction:- The Hon’ble Union Finance Minister Nirmala Sitharaman has presented the Union Budget 2021 of India on the 1st of February, 2021. Budget 2021 is aimed at reviving an economy that pl...
Read MoreSmt. G. Vijaya Vs DCIT (ITAT Bangalore) - It is well settled proposition of law that the apprehension, howsoever strong, cannot substitute material evidences. A.O. was not justified in treating part of liabilities as unproved on presumptions, surmises and conjectures...
Read MoreK.S. Nutrition and Food Pvt. Ltd. Vs ITO (ITAT Delhi) - K.S. Nutrition and Food Pvt. Ltd. Vs ITO (ITAT Delhi) Assessee, inter alia, submitted that the Assessing Officer was not justified in assuming jurisdiction u/s. 153C of the Act in the present case, as the assessment year under consideration does not come within the compass of the block of six assess...
Read MoreNeesa Technologies Pvt. Ltd. Vs DCIT (ITAT Ahmedabad) - Neesa Technologies Pvt. Ltd. Vs DCIT (ITAT Ahmedabad) Since the proceedings u/s. 153C of the Act were initiated in the present case on the basis of documents which we have held above neither belonged to the assessee nor were incriminating in nature, they were not sufficient for assuming jurisdiction...
Read MoreTirupati Construction Company Vs Income Tax Office & Anr. (Rajasthan High Court) - The pertinent assertion of learned counsel Shri Gargieya is that the assessing authority could not have adopted the procedure provided under Section 148 of the Income Tax Act for reopening the assessment of the petitioner because such action was taken on the basis of facts revealed to the assessing ...
Read MoreAshok Kumar Tyagi Vs ACIT (ITAT Delhi) - Ashok Kumar Tyagi Vs ACIT (ITAT Delhi) ITAT held that the addition of agricultural income as income from other sources was not based on any incriminating/seized material found as a result of search. Even, the disallowance of loss claimed against house property income is also not with reference to an...
Read MoreNotification No. 38/2021-Income Tax/S.O. 1703(E) - (27/04/2021) - Central Government has decided to extend the time limits to 30th June, 2021 in the following cases where the time limit was earlier extended to 30th, April 2021 through various notifications issued under the Taxation and Other Laws (Relaxation) and Amendment of Certain Provisions Act, 2020, namely:-...
Read MoreTBA - Assessment Instruction No. 12 - (12/09/2019) - Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search Years’ in Assessment module of Income Tax Business Application (ITBA)- reg. ITBA – Assessment Instruction No. 12 DIRECTORATE OF INCOME TAX (SYSTEM) ARA Cente...
Read MoreSmt. G. Vijaya Vs DCIT (ITAT Bangalore) -
K.S. Nutrition and Food Pvt. Ltd. Vs ITO (ITAT Delhi) -
Neesa Technologies Pvt. Ltd. Vs DCIT (ITAT Ahmedabad) -
Tirupati Construction Company Vs Income Tax Office & Anr. (Rajasthan High Court) -
ACIT Vs Smt. Renu Sehgal (ITAT Jaipur) -
Ashok Kumar Tyagi Vs ACIT (ITAT Delhi) -
PCIT Vs Vikas Telecom Ltd (Delhi High Court) -
Samanthapudi Lavanya Vs ACIT (ITAT Visakhapatnam) -
A.C.I.T Vs Ganpati Developers (ITAT Jaipur) -
Bajrang Tea Manufacturing Company Private Limited Vs Union of India (Calcutta High Court) -