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 : ITAT Ahmedabad held that revisionary proceedings under section 263 of the Income Tax Act not invocable as assessment made by AO af...
Income Tax : ITAT Raipur that where the income of the assessee has been computed by applying a gross profit rate, there is no need to look into...
Income Tax : Bombay HC confirms ITAT decision setting aside PCIT's Section 263 revision, holding AO took a valid view on interest disallowance ...
Income Tax : ITAT Pune quashes revision order against Angre Port Pvt. Ltd. on legal expense claims, ruling AO had conducted due inquiry and ado...
Income Tax : ITAT Ahmedabad rejects PCIT’s revision under Section 263, holding AO had duly verified cash deposits and creditors during demone...
ITAT Pune held that satisfaction note is required to be recorded u/s.153C for each assessment year, thus, recording of consolidated satisfaction note for different assessment years (AY) would vitiate the entire assessment proceedings.
Orissa HC dismisses Revenue appeal in CIT vs Dhaneswar Rath. Upholds ITAT, rules Sec 263 revision invalid based on consistency & prior allowance of depreciation.
Gujarat High Court upholds ITAT ruling in PCIT vs Shreeji Prints, rejecting revision under Section 263 over inquiries into unsecured loans.
ITAT Jaipur held that reasons recorded for selecting case for scrutiny never mentioned that case was selected for limited scrutiny hence approval for conversion not required. Matter remanded to CIT(A) to decide case based on merits.
Madras High Court held that the recording of satisfaction note is pre- requisite before initiating proceeding under section 153C of the Income Tax Act. In absence of the same, assessment order is liable to be quashed. Accordingly, appeal of the revenue is dismissed.
The assessee is a private limited company. Post completion of assessment u/s. 143(3)/153A, reassessment u/s. 148 was initiated. However, AO accepted the contention of the assessee and passed order u/s. 143(3)/ 147.
ITAT Pune held that additional income surrendered during the course of survey is taxable at normal rates and not at special rates as per section 115BBE of the Income Tax Act. Accordingly, appeal of revenue dismissed.
ITAT Delhi held that re-assessment notice issued under section 148 of the Income Tax Act and sent to unrelated e-mail address is regarded as never served to assessee and hence re-assessment order framed thereon is nonest and bad in law.
Kerala High Court rules a Section 263 order is not a closed remand, allowing challenge to subsequent assessments without separate appeal.
Delhi High Court upholds ITAT’s decision in ITO vs. DG Housing Projects Ltd, dismissing Revenue’s appeal on assessment year 2004-05 under Section 263 of IT Act.
