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...
Patna ITAT remands penalty case of Narayani Educational Health and Charitable Trust, allowing re-examination of Section 271(1)(b) levy due to lack of evidence submission.
ITAT Mumbai held that proceedings u/s. 153A of the Income Tax Act is bad in law since case falls within parameters of rule 112F r.w. third proviso to section 153A, however, no certificate was issued by investigating officer even when cash was found during election period.
Delhi High Court quashes Income Tax notice, ruling a pen drive with FY 2014-15 data cannot justify reassessment for AY 2019-20.
Since the assessments were completed in the case of assesee and there was no incriminating material found during the search in the case of the assessee, the additions made under Section 153A were unsustainable.
ITAT Bangalore rules that a director’s mere custody of company funds, without personal use or formal loan, does not constitute a deemed dividend under Section 2(22)(e) of the Income-tax Act.
Madras High Court held that in re-assessment proceedings the objections of assessee should be dealt in accordance with GKN Driveshafts principle. Here, all the proceedings are set aside since the GKN Driveshafts principle has not been strictly adhered to.
ITAT Ahmedabad held that addition towards accommodation entries of bogus LTCG cannot be sustained in absence of any iota of tangible perceptible evidence. Accordingly, appeal allowed and addition set aside.
Delhi High Court held that addition towards unexplained credits against companies used as a conduit for routing accommodation entries is not justified since they are not ultimate beneficiaries. Accordingly, appeal of revenue dismissed.
Delhi High Court rules that the limitation period under Section 153C of the Income Tax Act begins from the date the Assessing Officer receives the seized documents, quashing an assessment notice for AY 2015-16.
Madras High Court held that writ against assessment orders issued under section 153C of the Income Tax Act is dismissed existence of alternative remedy. Accordingly, writ petition dismissed and petitioner directed to approach the appellate authority.
