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 : Gujarat High Court dismisses Revenue’s appeal as unsigned excel sheet lacks corroboration in S. 153C Income Tax Act proceedings....
Income Tax : Read the Kerala High Court judgment on income tax assessments involving Sunny Jacob Jewellers. Analysis includes AO's authority un...
Income Tax : The ITAT Bangalore ruled that income tax additions can't be based solely on unsubstantiated loose slips, emphasizing the need for ...
Income Tax : Delhi High Court rules that reassessment actions post-2021 searches must meet the First Proviso to Section 149(1) of the Income Ta...
Income Tax : Delhi High Court rules Section 153C assessments beyond the 10-year limit unsustainable, quashing notices for AY 2013-14. Key judgm...
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...
Uttarakhand High Court held that issuance of notice to the Transferor Company (i.e. non-existent entity) and order passed u/s 148A(d) of the Income Tax Act against the non-existent entity is bad in law and liable to be quashed.
Bombay High Court held that re-opening of assessment under section 148 of the Income Tax Act, without indicating basis for having a reason to belief that income has escaped assessment, merely based on change of opinion is unsustainable in law and liable to be quashed.
Explore the case of Alankit Imaginations Ltd vs. DCIT (ITAT Delhi), where penalties were challenged. Learn why a ‘non-cooperative attitude’ alone cannot justify penalties.
ITAT Delhi held that the additions/disallowance, devoid of any incriminating material found during the course of search, cannot validate the assessment orders framed u/s 153C of the Act. Accordingly, assessment orders u/s 153C cannot be sustained and liable to be quashed.
ITAT Chennai held that acquiring jurisdiction u/s 153C of the Income Tax Act without fulfilling the requirement of satisfaction note in case of searched person is unsustainable and liable to be quashed.
ITAT Delhi held that initiation of reassessment proceedings u/s 147 of the Income Tax Act merely on the basis of information from other officer without cogent and demonstrable material unjustified.
Bombay High Court held that jurisdiction to assess/ reassess u/s 153C of the Income Tax Act in respect of unabated/ completed assessments without any incriminating material found during the search unjustified.
Exploring the key takeaways from the ITAT Chennai ruling in Duraisamy Parameswaran Vs ACIT, focusing on how agricultural income is treated under Section 68 of the Income Tax Act.
ITAT Chennai held that assessment order passed without examining the seized documents is prejudicial to the interest of revenue and hence the revisionary order passed under section 263 of the Income Tax Act duly sustainable.
ITAT Delhi held that addition under section 69C of the Income Tax Act towards unexplained expenditure based on dumb documents not sustainable in law.
