Income Tax : Kerala HC rules no separate challenge needed for Sec 263 remand order before appealing revised assessment; restores Malabar Instit...
Income Tax : Understanding the exclusion of time limits during Court stays in assessment proceedings under Finance Bill 2025 for Income Tax ass...
Income Tax : Explore Section 263 of ITA, 1961, and its implications for revising assessment orders with no discussion on certain issues. Judici...
Income Tax : Explore landmark judgments on capital gain tax exemptions under Sections 54 and 54F of the Income Tax Act. Key highlights from ITA...
Income Tax : Understand the differences between appellate powers u/s 251, revisional powers u/s 263, and 264 of the Income Tax Act, and how the...
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 : Delhi High Court held that no addition on account of sale of fly ash since the entire sale proceeds of fly ash were deposited in a...
Income Tax : By way of this appeal, the assessee has challenged the correctness of the order of the Learned Principal Commissioner of Income Ta...
Income Tax : ITAT Ahmedabad held that revisionary order passed under section 263 of the Income Tax Act in the name of non-existent entity (amal...
Income Tax : ITAT Ahmedabad partly sets aside PCIT order, rules PCIT cannot issue mandatory direction to add income for accommodation entries u...
Income Tax : ITAT upholds PCIT's revision of an assessment order. The AO failed to probe cash payment for a second property purchase, rendering...
ITAT Ahmedabad held that disallowance of exemption under section 10(23C)(iiiab) of the Income Tax Act by PCIT in absence of any supporting documents/ materials justifiable. Accordingly, appeal dismissed.
It was argued on behalf of assessee that PCIT is wrong in concluding that return filed u/s 44AD did not envisage the maintenance of any Books of Accounts. Section 68 can be invoked only if there is any entry in the Books of Accounts.
ITAT quashes S.263 revision order and annuls CIT(A) order in Kolet Resort Club Pvt Ltd case due to invalid assessment for AY 2015-16.
ITAT Kolkata remands unexplained income case involving a mother-son transaction back to CIT(A) for fresh adjudication, citing incomplete compliance and evidentiary gaps.
ITAT Ahmedabad rules that cost of improvement to make a house livable qualifies for capital gains deduction. Penalty on disallowed expenses also canceled.
ITAT Delhi held that revisionary proceedings under section 263 of the Income Tax Act would not survive since the assessment order is held to be non-est. Thus, appeal dismissed as having become infructuous.
Explore Section 263 of ITA, 1961, and its implications for revising assessment orders with no discussion on certain issues. Judicial precedents explained.
Explore landmark judgments on capital gain tax exemptions under Sections 54 and 54F of the Income Tax Act. Key highlights from ITAT and High Court cases explained.
ITAT considered two issues on this aspect. Firstly, whether PCIT rightly exercised its revisional jurisdiction and secondly whether order u/s 263 was passed on merits regarding to the net foreign exchange gain.
During the pendency of assessment proceedings assessee died and notice u/s. 142(1) dated 12.03.2022 has been issued to legal heir/representative of the assessee as per provisions u/s. 159.
