Income Tax : Judicial rulings clarify that satisfaction for initiating action against other persons in search cases must be recorded promptly. ...
Income Tax : CBDT issues new compounding guidelines simplifying process, eligibility, charges, and procedures under the Income-tax Act from Oct...
Income Tax : CBDT's new Compounding of Offence Guidelines (2024) simplify the process but maintain strict compliance rules. Learn about eligibi...
Income Tax : AY 2015-16 assessment under Section 153C held time-barred. Judicial rulings confirm six-year limit runs from handing over of seize...
Income Tax : Learn why a consolidated satisfaction note for multiple assessment years is legally invalid under Section 153C of the Income Tax A...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : The Tribunal held that an unsigned agreement without corroboration cannot be treated as incriminating material. Proceedings under ...
Income Tax : The Tribunal deleted additions where the Revenue failed to prove actual cash transactions. It emphasized that suspicion and assump...
Income Tax : The Tribunal held that reopening under Section 147 was invalid where it was based on third-party search material. It ruled that Se...
Income Tax : The issue was whether a notice granting less than the statutory minimum time is valid. The tribunal held that giving less than 7 d...
Income Tax : The Court held that a 21-month delay in recording the satisfaction note violates the requirement of immediacy. It ruled that such ...
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...
The ITAT Raipur quashed the reopening of an assessment under Section 147, ruling that search-based cases on third-party material must be initiated under Section 153C.
Madras High Court held that completion of assessment on best judgement as the petitioner had not shown cause in response to the notice vis-à-vis assessment made after several years of return filing. Hence, matter restored back for providing opportunity of being heard to petitioner.
The ITAT has deleted gross profit additions made to Sunil Garg’s income, ruling that the Assessing Officer’s actions were arbitrary and lacked incriminating material.
The Raipur ITAT remanded the Omax Minerals tax case back to CIT(A) after finding that the company was denied a fair opportunity to be heard in a penalty proceeding. The ruling cites procedural irregularities.
The Income Tax Appellate Tribunal (ITAT) in Cochin has ruled that voluntarily disclosing additional income after a search notice does not automatically justify a penalty under Section 271(1)(c) of the Income-tax Act, 1961.
The Pune ITAT quashed a reassessment order, ruling that proceedings initiated under Section 147 were invalid. The tribunal held that information from a third-party search mandates proceedings under Section 153C, not Section 147.
The ITAT Bangalore has quashed a reassessment order, ruling that a tax addition based on documents seized in a third-party search must be made under Section 153C, not 147.
ITAT Bangalore deletes ₹150+ crore additions, quashing assessment due to lack of incriminating material and multiple jurisdictional defects in the proceedings.
AY 2015-16 assessment under Section 153C held time-barred. Judicial rulings confirm six-year limit runs from handing over of seized documents to AO.
ITAT Bangalore deletes additions in the KC Raju Hospital case, confirming that no additions can be made to unabated assessment years without specific incriminating material.
