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 Mumbai held that invocation of revisionary jurisdiction under section 263 of the Income Tax Act on account of difference of opinion is not sustainable in law. Accordingly, revision order passed by PCIT is liable to be quashed.
ITAT Hyderabad rules against double taxation, quashing Section 69A addition after cash source was already accepted and taxed under Section 269SS for the same amount.
Mumbai ITAT rules in favor of Tata Chemicals, allowing deduction of ₹156 crore interest on loans for overseas investment, overturning PCIT’s revision.
Patna ITAT remands penalty case of Narayani Educational Health and Charitable Trust, allowing re-examination of Section 271(1)(b) levy due to lack of evidence submission.
ITAT Chandigarh held that every error is not required to be corrected under Section 263 of the Income Tax Act. Revisionary proceedings u/s. 263 quashed as plausible view taken by the Assessing Officer.
Delhi ITAT sets aside PCIT’s revisionary order concerning depreciation on goodwill for AY 2016-17, citing incorrect application of IND AS 103 and reliance on a new ground.
ITAT Delhi rules interest on enhanced compensation for acquired agricultural land is taxable as ‘income from other sources,’ dismissing exemption claims.
Gujarat High Court held that Revisional authority ought to have taken into consideration that AO has to pass best judgement assessment order without granting an opportunity of being heard. Thus, matter remanded back to AO for de novo consideration.
ITAT Mumbai held that the view taken by AO was a plausible view and the same cannot be subjected to revision under Section 263 of the Act merely for the reasons that PCIT does not agree with the same. Accordingly, appeal of assessee allowed.
ITAT Surat condones a 1740-day delay in Chirag P. Thummar’s penalty appeal, citing advocate’s mistaken advice and the Supreme Court’s COVID-19 extension. Case remanded to PCIT for fresh adjudication on merits due to an ex-parte order.
