Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...
Income Tax : The article explains who can file appeals before the Income Tax Appellate Tribunal, the orders that are appealable, applicable tim...
Income Tax : The Tribunal held that additions cannot stand without a clear link between seized material and the assessee. It ruled that third-p...
Income Tax : Judicial rulings clarify that satisfaction for initiating action against other persons in search cases must be recorded promptly. ...
Income Tax : CBDT's new Compounding of Offence Guidelines (2024) simplify the process but maintain strict compliance rules. Learn about eligibi...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : Gujarat High Court held that rejection of a Vivad se Vishwas declaration was invalid because final assessment arose from survey pr...
Income Tax : The Tribunal held that an addition under Section 69 could not be sustained solely on the basis of a seized loose sheet without ind...
Income Tax : The ITAT held that assessments under Section 153A were invalid because no search warrant was issued in the assessee’s name. As t...
Income Tax : The ITAT Hyderabad held that the assessment orders were time-barred under Section 153 despite the DRP process. Both assessments we...
Income Tax : The ITAT held that limitation under Section 153B had to be computed from the searched person's last panchanama, making the assessm...
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...
Assessments arising from searches conducted after 01.04.2021 must strictly comply with the reassessment framework under sections 147 and 148. Failure to adhere to statutory jurisdictional requirements, including mandatory approvals and satisfaction for use of third-party material, rendered the entire assessment void.
The case involved additions for alleged on-money in Godhavi land transactions based on a handwritten loose sheet. The Tribunal restored the matter for fresh consideration, highlighting issues relating to evidence and assessment findings.
The reassessment was based on documents found during a search conducted on another person. The Tribunal held that proceedings should have been initiated under Section 153C and not under Sections 147/148, rendering the reassessment invalid.
The Tribunal held that documents relating to the assessee were found during the search of another person. It ruled that proceedings could only be initiated under Section 153C, making the reassessment under Section 148 invalid.
ITAT Delhi held that reassessment proceedings beyond six years under Section 153C are permissible only where escaped income represented in the form of assets exceeds or is likely to exceed Rs. 50 lakh. Since this statutory condition was not satisfied, the assessments were annulled as time-barred.
The Delhi ITAT held that lack of knowledge of the assessment order constituted sufficient cause for delayed filing before the CIT(A). The Tribunal restored the matter for fresh adjudication on merits after condoning the delay.
ITAT Mumbai held that where reassessment is based on documents seized during a search on another person, proceedings must be initiated under Section 153C and not Section 147.
The Tribunal ruled that a Section 153C notice issued beyond the statutory ten-year period could not survive in law. The assessment order passed pursuant to such notice was therefore annulled as time-barred.
The Bangalore ITAT held that mere differences between declared construction cost and DVO estimates cannot sustain additions under Section 69B without independent evidence of unaccounted investment. The Tribunal deleted additions relating to hostel construction expenditure.
ITAT Hyderabad held that the reassessment notice issued for AY 2015-16 after 31.03.2022 was barred by limitation under the first proviso to Section 149 and therefore invalid.
