Income Tax : A guide to India's block assessment tax provisions from the Finance Act 2024. Understand pending assessments, undisclosed income, ...
Income Tax : The Tribunal ruled that the Revenue must establish a direct connection between seized material and the assessee’s taxable income...
Income Tax : The Court held that recording satisfaction after a delay of nine months was not immediate as required by law. It upheld quashing o...
Income Tax : The issue was whether third-party diaries and loose papers could establish receipt of unaccounted income. The Tribunal ruled that ...
Income Tax : The High Court held that issuing a draft assessment order under Section 144C is invalid where the Transfer Pricing Officer propose...
Income Tax : Since the statutory notice under section 143(2) was issued by a non-jurisdictional officer, the assessment collapsed. The ruling a...
The Gujarat High Court quashed a Section 153C notice due to a 22-month delay in recording the satisfaction note, ruling it violated Supreme Court guidelines for immediate post-assessment action.
ITAT Chennai held that when sales are accepted and supported by records, entire purchases cannot be treated as bogus merely because suppliers were untraceable. Addition restricted to 12.5% as profit element.
Kerala High Court held that as the gold claimed by the petitioner, is already assessed in the name of the husband of the petitioner, and the proceedings in respect of the same are concluded, the petitioner cannot make a further claim in respect of the same. Accordingly, writ dismissed.
A guide to India’s block assessment tax provisions from the Finance Act 2024. Understand pending assessments, undisclosed income, penalties, and deadlines.
Notice under Section 132 of the Income Tax Act, 1961 was issued in the name of a dead person. The said notice was duly received by the present petitioner as the legal heir of the dead person. Notice of assessment under Section 158BC of the Act was issued and in the assessment proceedings
These are the appeals filed by the assessee against the order of CIT(A), Mumbai, for the assessment years 2002-03 to 2007-08, in the matter of order passed u/s.143(3) r.w.s. 153C of I.T.Act.
A search and seizure action was carried out at the residence of Devdas A.Alva on 13.9. 2001.During the action,a loose paper file marked A-1was seized.Pages No 1-17 contained a copy of the catering contract entered into by Apporva caterers and Ooters Club and Page No. 26 to 28 were the bills
Delhi High Court held In the case of Haryana Paneer Bhandar vs. CIT. that the Revenue has been unable to produce the satisfaction note of the AO of the searched person. Consequently, on this short ground of there being no satisfaction note, which is a mandatory requirement under Section 158BD.
ITAT held In the case of ACIT vs. Raj Kumar Jalan that in view of the proposition laid down by the Honble Delhi high Court in the case of CIT Vs. Bharat Bhusan Jain and others in ITA No.648/09 and 669/2009 etc order dated 08.01.2015
Hon’ble HC did not find any merit in the ground of delay in issuance of notice. Court further remitted the matters ITAT to decide afresh on merits. In the light of the observations of the Supreme Court in Calcutta Knitwears, particularly the contextual facts discussed
