Income Tax : The Tribunal held that CIT(A) cannot enhance income under Section 251 on matters not considered by the Assessing Officer during as...
Income Tax : The ITAT held that revisional powers under Section 263 cannot be exercised when the Assessing Officer has already examined the iss...
Income Tax : ITAT quashed PCIT’s Section 263 order, holding AO’s treatment of survey income as business income valid and not erroneous or p...
Income Tax : Ahmedabad ITAT quashes reassessments based on ACB report, ruling the AO lacked independent "reason to believe" and only used borro...
Income Tax : ITAT Pune upholds PCIT's order u/s 263, setting aside an assessment for failure to verify ₹82.64 crore in advances for property...
Income Tax : National Chamber of Industries & Commerce, U.P has made a representation against Indiscriminate notices by the Income Tax Depa...
Income Tax : KSCAA has made a Representation on Challenges in Income Tax Related to Rectification Proceedings, Order Giving Effect, Delay in P...
Income Tax : One of the key sources of dispute is the existing arrangement for follow up on audit objections by Internal Audit Party and the Re...
Income Tax : ITAT held an assessment passed after the taxpayer's death was invalid in law, quashed the order, and treated all remaining issues ...
Income Tax : ITAT deleted additions after finding the AO relied only on ACB information without independent inquiry or supporting evidence. ITA...
Income Tax : ITAT Kolkata held that a loan received by a company that was not a shareholder of the lender could not be taxed as deemed dividend...
Income Tax : The Court held that Section 263 could not be invoked where the AO had made inquiries and accepted the assessee's explanation....
Income Tax : The Court held that Section 263 could not be invoked where the AO had raised queries, examined replies and completed the assessmen...
ITAT held an assessment passed after the taxpayer’s death was invalid in law, quashed the order, and treated all remaining issues as academic.
ITAT deleted additions after finding the AO relied only on ACB information without independent inquiry or supporting evidence. ITAT deleted additions after holding that estimated marriage expenses and FDR investment were unsupported by evidence and explanations remained unchallenged.
ITAT Kolkata held that a loan received by a company that was not a shareholder of the lender could not be taxed as deemed dividend under Section 2(22)(e).
The Court held that Section 263 could not be invoked where the AO had made inquiries and accepted the assessee’s explanation.
The Court held that Section 263 could not be invoked where the AO had raised queries, examined replies and completed the assessment.
The ITAT Ahmedabad held that merely describing a transaction as a loan by one party and a purchase advance by the other could not justify revision under Section 263. As the source of funds was explained and the amount was refunded, no addition under Section 69A was warranted.
The Tribunal held that the delay was supported by sufficient cause, including the Supreme Court’s COVID-19 limitation orders and an error by the assessee’s counsel. The appeal was admitted for adjudication on merits.
The Tribunal distinguished between lack of enquiry and inadequate enquiry, holding that Section 263 cannot be invoked merely because the PCIT desired further verification. Since the AO had examined the evidence, the revisionary order was quashed.
ITAT Chennai held that revision under Section 263 could not survive on the issue of prior period expenditure after the Assessing Officer verified and accepted the claim in the consequential assessment. The revision was sustained only on the remaining issues.
The Madras High Court held that the tax authorities failed to examine the assessee’s request to consider exemption under the correct statutory provision after a bona fide error. It set aside the orders and directed a fresh assessment.
