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 : The ITAT Amritsar held that a valuation report by itself cannot justify addition under Section 69 without evidence of extra paymen...
Income Tax : ITAT Mumbai held that amortization of BOT road project expenditure must be computed based on the actual concession period and not ...
Income Tax : The Tribunal held that the reassessment order could not be revised under Section 263 since the conditions for treating jewellery e...
Income Tax : ITAT Hyderabad held that assessment orders passed pursuant to earlier remand directions were barred by limitation under Section 15...
Income Tax : Delhi ITAT held that an Assessing Officer cannot make additions beyond the specific issues remanded by the Principal Commissioner ...
The ITAT ruled that penalty proceedings under Section 271D are invalid if the Assessing Officer fails to record satisfaction in assessment or related proceedings. Since no assessment proceedings existed in the case, the penalty was held unsustainable in law.
The Tribunal held that lack of inquiry into a large receipt justified revision under Section 263. It found the assessment erroneous and prejudicial to revenue. The ruling reinforces duty of proper verification.
The Tribunal held that revisionary powers cannot be used to substitute the AO’s view with that of the Pr. CIT. It emphasized that such substitution is beyond Section 263. The decision protects independent assessment decisions.
The case examined whether property registered in trustees’ names violated Section 13(1)(c). The Tribunal held no violation as no benefit accrued to trustees, allowing exemption under Section 11.
The issue was whether contractor deposits could be treated as unexplained credits. The Tribunal held they were genuine trade liabilities, not taxable under Section 68.
The case examined whether revision under Section 263 was validly invoked. The High Court held that reliance on the Assessing Officer’s reference without independent application of mind invalidated the revision.
The case examined whether scrutiny selection without meeting CBDT conditions was valid. The ITAT held that failure to satisfy mandatory criteria invalidated the notice and entire assessment.
The tribunal examined whether depreciation can be claimed on concession rights under a BOT/DBFOT project. It held that the right to receive annuity/toll is an intangible asset eligible for depreciation under tax law.
The tribunal ruled that revisionary powers cannot be exercised without questioning the statutory approval under Section 153D. Absence of such examination renders Section 263 action invalid.
The court examined whether interest on FDRs could be taxed as other income. It held that where funds are linked to a project, the interest retains its project nexus and is not separately taxable.
