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 the compounding of offences under direct tax laws, including eligible offences, competent authorities, and the process...
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 : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : The JDA was signed between one Mr. U.K. Hasanabba and Mr. U. Ibrahim on one side as landowners and Mr. Abdul Khader K (on behalf o...
Income Tax : ITAT Delhi quashes assessment orders against Splendor Landbase and its director, faulting the JCIT's mechanical approval under Sec...
Income Tax : Bombay High Court held that Court cannot exercise its discretionary jurisdiction to restrain income tax officers from proceedings ...
Income Tax : Delhi HC sets aside Sec 153C notices against Ishita Varshney Jain. WhatsApp image of unrelated Agreement to Sell found on husband'...
Income Tax : Madras High Court sets aside IT assessment orders for Vetrivel Minerals citing lack of incriminating evidence and breach of natura...
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...
ITAT Delhi held that addition towards undisclosed investment in shares and unsecured loans merely based on observation made by DCIT without independent inquiry by AO is unjustified and hence the addition is liable to be deleted.
Since the addition pertained to the “receipt of money” from the sale of flats by the assessee and these amounts did not represent the actual receipts in the hands of the assessee, they could not be subjected to tax.
Since there was no failure on the part of assessee to fully and truthfully disclose material facts therefore, assessment under sections 147-148 was not valid as the specific provisions of Section 153C were deemed to take precedence over the general provisions of Section 147.
Understand the compounding of offences under the Income-tax Act, 1961, including categories, charges, and procedures as per the Finance Act, 2024.
ITAT Ahmedabad quashes assessment for AY 2011-12 in Ushaben Jayantilal Patel vs ITO case, ruling on jurisdiction and procedural errors.
ITAT Ahmedabad held that initiation of proceedings u/s. 147 of the Income Tax Act based on material found during search of another company is untenable as proceedings should be initiated u/s. 153C and not u/s. 147.
ITAT Mumbai held that normal period of limitation i.e. 3 years will apply in case of reopening of assessment where escapement of income was below Rs. 50 Lakhs and extended period of 10 years will apply only in case of concealment of income of Rs. 50 Lakhs or more.
ITAT Ahmedabad held that AO had no jurisdiction to initiate proceedings u/s. 153C of the Income Tax Act beyond permissible period of six years from date of receipt of books/ documents by AO.
ITAT Delhi held that addition u/s. 68 of the Income Tax Act towards share application money, as unexplained credit, deleted as identity, genuineness and creditworthiness of the shareholders proved.
Learn about the compounding of offences under direct tax laws, including eligible offences, competent authorities, and the process involved.
