Income Tax : Delhi HC rules in PCIT Vs Pavitra Realcon Pvt. Ltd., ITA 579/2018, emphasizing the need for corroborative evidence in tax assessme...
Income Tax : Explore the intricacies of invoking Section 153C of the Income Tax Act, as clarified by the Delhi High Court, regarding the posses...
Income Tax : Delve into the provisions of Income Tax Act Sections 153A & 153C, governing assessments after search or requisition. Learn from co...
Income Tax : Learn about Section 147 to 153 Income Escaping Assessment and Reopening of Cases Under Income Tax Act, 1961. Get guidance on the p...
CA, CS, CMA : Discover the major changes in ITR forms for FY 2023-24 (AY 2024-2025). Highlights include new sections for retirement benefit acco...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : ITAT Pune remands the case of Suhas Maruti Dhankude for re-adjudication due to non-adjudication of jurisdictional grounds and fail...
Income Tax : Notice under section 148 was issued upon assessee by AO for reassessing the cash deposit as undisclosed income, following approval...
Income Tax : Delhi High Court held that in case of search, block period of ten years for search assessment, would not be attracted in case the ...
Income Tax : ITAT Delhi held that in respect of assessment proceedings u/s. 153C of the Income Tax Act, block period of six assessment years ha...
Income Tax : Gujarat High Court dismisses Revenue’s appeal as unsigned excel sheet lacks corroboration in S. 153C Income Tax Act proceedings....
Income Tax : Central Government has decided to extend the time limits to 30th June, 2021 in the following cases where the time limit was earlie...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
Gujarat High Court held that since the order passed by the Appellate Authority has attained finality and no demand is outstanding against the appellant, it is unjustified to withhold the seized gold. Accordingly, directed to release the remaining gold at the earlier.
ITAT Ahmedabad held that when AO of searched person and other person is same, there is no mandatory requirement for AO of searched person to record satisfaction of material having found belonging to the person for valid jurisdiction under section 153C of the Income Tax Act.
ITAT Mumbai held that addition u/s 69 of the Income Tax Act unsustainable as the assessee being non-resident, income has been invested in India and not arisen in India.
Held that in the absence of any incriminating material found or seized during the course of search and seizure proceedings, the additions made by the AO during the course of reassessment under section 153A of the Income Tax Act are without jurisdiction.
ITAT Mumbai held that the income portion of the on-money is assessable in the year in which the sale of concerned flat is declared by the assessee.
ITAT Kolkata held that in case where search has not been conducted upon the assessee, then penalty under section 271AAB of the Income Tax Act cannot be imposed.
The ITAT Delhi has dismissed the Revenue’s appeal in the case of ACIT vs. Cogent Realtors Pvt. Ltd. The appeal was dismissed based on the lack of jurisdiction under Section 153C of the Income Tax Act due to the absence of incriminating material. The disallowance made by the Assessing Officer was also found to be unsustainable.
ITAT Delhi has ruled that additions made under Section 153C of Income Tax Act cannot be sustained without any incriminating material found during a search and seizure operation.
Delhi High Court held that case can duly be transferred from Jurisdictional Assessing Officer to Central Circle by way of passing order under section 127 of the Income Tax Act.
ITAT Delhi held that addition based on some dummy name without incriminating material reflecting name of the assessee is unjustified.
