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 Pune partly quashed a PCIT’s revision order against Sharada Erectors Pvt. Ltd. It ruled that the AO’s plausible view on most issues, supported by enquiry, cannot be set aside.
The ITAT Nagpur has set aside a revision order by the PCIT against Nirmalkumar Agrawal (HUF). The tribunal ruled that the PCIT could not invoke Section 263 to revise an assessment where the AO had already conducted a thorough enquiry and formed a plausible view, even if a different view was possible.
PCIT’s revision order on Gajanand Financial Consultancy’s protective addition was quashed by ITAT Nagpur. The Tribunal ruled the AO made a detailed enquiry, and protective additions can’t be revised when substantive ones exist.
Relying on Malabar Industrial, Max India, and Gabriel India precedents, ITAT ruled that when two views are possible, PCIT cannot assume jurisdiction. Original assessment for AY 2020-21 was restored.
The ITAT Delhi has cancelled a Rs.986 crore tax on Tata NYK Shipping, reiterating that international shipping income is exempt under Article 8 of the DTAA, not taxable as royalty.
The ITAT Delhi allowed a Rs.1.19 crore foreign exchange loss for Donyi Polo Timbers on import creditors, affirming a consistent accounting method despite a lack of business operations.
The ITAT Ahmedabad quashed a PCIT order, ruling that revisional power cannot be invoked for mere verification, and a specific error must be proven to show prejudice to revenue.
The ITAT in Mumbai has quashed a revisionary order under Section 263 of the Income Tax Act against law firm AZB & Partners. The tribunal ruled that the PCIT’s order was not justified, as the Assessing Officer had already conducted a proper enquiry and applied his mind to the issue, making it a “change of opinion,” not a “lack of enquiry.”
The ITAT ruled that a PCIT cannot use Section 263 to revise an assessment order that is “non-est” in law due to a procedural defect.
ITAT Hyderabad upheld a revision order denying capital gains exemption, citing an unregistered sale agreement between a husband and wife as insufficient proof.
