Income Tax : Explore the necessity of issuing notices under Section 263 post the Faceless Assessment Scheme introduction. Analyze the schemes e...
Income Tax : Explore remedies for taxpayers under the Income Tax Act, 1961, comparing appeals & revisions. Understand procedures, limitations &...
Income Tax : Explore Sections 207 to 219 of the Income Tax Act, 1961, covering Advance Tax provisions, due dates, and in-depth analysis. Unders...
Income Tax : Explore the intricacies of Section 263 of the Income Tax Act, 1961. Learn how it rectifies erroneous orders and safeguards revenue...
Income Tax : Whether payment to shareholders out of sale proceeds of a property belonging to the company, to end dispute amongst the shareholde...
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 Jaipur quashes PCIT order in Yesh Dagas case, citing violation of natural justice principles. Key points of the judgment and ...
Income Tax : PCIT Vs Farmson Pharmaceuticals Gujarat Pvt Ltd (Gujarat High Court): Reassessment cannot be solely based on a reevaluation of exi...
Income Tax : Once an assessment has been finalized for a particular year, reassessment cannot be justified merely due to subsequent procedural ...
Income Tax : Gujarat High Court allows income tax deduction for payment clearing mortgage, dismissing Revenue’s appeal under section 263. Ful...
Income Tax : Detailed analysis of the ITAT Kolkata ruling on Shringar Marketing Pvt. Ltd. Vs PCIT, highlighting key arguments, legal precedents...
Analysis of Kishorkumar Bhalara Vs PCIT (ITAT Rajkot) case, where the ITAT ruled that incorrect assumption of facts alone is not sufficient to revoke jurisdiction under Section 263.
Read the full text of the ITAT Chandigarh’s decision in the case of Manuj Jain HUF Vs PCIT. The assessment order was upheld, rejecting the Section 263 revision regarding demonetization cash deposits.
Read the full text of ITAT Kolkata’s order in Kanchan Vanijya Pvt Ltd Vs ACIT case, where the assessment order was quashed due to violation of principles of natural justice.
Read the full text of the ITAT Ahmedabad order where the revision order against Rameshlal Bullchand Ambwani is quashed due to lack of valid reasons for JDA amendment.
Delhi High Court held that assessment order passed without making required inquiries or verification is considered as erroneous and prejudicial to the interest of revenue, accordingly, PCIT rightly invoked revisional powers under section 263 of the Income Tax Act.
The computation of income by AO giving effect to CIT’s direction was an assessment order which was appealable. The order passed by CIT(A), therefore, holding the assessment order to be not appealable was incorrect in law.
Read the detailed analysis of Hiral Exports vs ITO case where ITAT Mumbai deletes Rs.40,82,500 addition under section 68 of the Income Tax Act due to failure to rebut evidence.
Ahmedabad ITAT quashes Sec 263 order in Soham Buildcon vs PCIT-3 case, citing absence of twin conditions for exercising power under the provision. Full text analysis provided.
ITAT Indore held that assessment done after considering replies/ submissions of the assessee cannot be said to be faulty. AO has taken a plausible view after considering replies/ submissions and hence revisional jurisdiction u/s. 263 of the Income Tax Act not warranted.
Chennai ITAT rules PCIT cannot expand limited scrutiny via Sec 263 in Cholan Paper vs PCIT case. Detailed analysis & conclusion. Read full text here.
