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 ...
ITAT Jabalpur dismissed the Revenue’s appeal regarding the eligibility of Section 80P deduction for a co-operative society’s Business Correspondent income, citing the CBDT’s revised monetary limit for appeals.
Ahmedabad ITAT rules in Naman Vidyapati Patel Vs PCIT that the cancellation of a land deal and refund of received amounts, even post-search, negated the claim of unaccounted income, quashing the PCIT’s revision order under Section 263.
The Tribunal directed the AO to treat the sales tax subsidy as a capital receipt, finding its purpose was to promote industrialization in backward regions, not subsidize production. The ITAT also deleted the Section 14A disallowance, confirming the taxpayer had sufficient own funds.
ITAT Chennai held that revisional powers under Section 263 cannot be used to substitute the Assessing Officer’s view when proper enquiry was conducted. The AO’s acceptance of business loss and PF/ESI deductions was valid.
Bombay High Court confirms that an assessment order isn’t ‘erroneous’ if AO applied his mind. Court dismissed PCIT’s appeal against Gehna Jewellers.
The Income Tax Appellate Tribunal (ITAT) overturned a Principal Commissioner of Income Tax (PCIT) order under Section 263. The Tribunal held that the PCIT cannot invoke revisionary powers simply because they desire a deeper investigation, establishing that inadequate enquiry is not equivalent to no enquiry by the Assessing Officer (AO).
ITAT Raipur held that since order passed by Pr. CIT u/s. 263 is quashed the addition made by AO u/s. 143(3) r.w.s 263 does no more survive. Therefore, appeal of the assessee allowed and addition made by AO liable to be quashed.
Holding the tolerance band as a remedial measure, the Tribunal applied it retrospectively to avoid hardship where stamp duty and actual sale values differ by less than 10%.
Relying on binding Supreme Court and High Court precedents, the Tribunal set aside the revisionary order as legally invalid because the PCIT failed to bring the legal heir on record before passing the order. The ruling firmly establishes that an income tax order passed against a dead person is a nullity and cannot be enforced.
The ITAT Ahmedabad set aside the PCIT’s revisionary order under Section 263, ruling that the AO’s acceptance of ₹12.18 lakh exempt LTCG on Kushal Tradelink shares was based on a detailed inquiry and a plausible view. The Tribunal held that revision is invalid when the AO conducts due diligence, finds no adverse material to link the assessee to price rigging, and takes a possible view on the evidence.
