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 : ITAT held an assessment passed after the taxpayer's death was invalid in law, quashed the order, and treated all remaining issues ...
Income Tax : ITAT deleted additions after finding the AO relied only on ACB information without independent inquiry or supporting evidence. ITA...
Income Tax : ITAT Kolkata held that a loan received by a company that was not a shareholder of the lender could not be taxed as deemed dividend...
Income Tax : The Court held that Section 263 could not be invoked where the AO had made inquiries and accepted the assessee's explanation....
Income Tax : The Court held that Section 263 could not be invoked where the AO had raised queries, examined replies and completed the assessmen...
ITAT Delhi overturns PCIT’s revision order against Umesh Garg, ruling the original assessment wasn’t erroneous or prejudicial to revenue, citing sufficient inquiry.
ITAT Mumbai rules on taxation of unsold real estate inventory for Sabarmati Capital One Ltd., clarifying Section 22 applicability and AO’s jurisdiction under Section 263.
Income Tax Appellate Tribunal sets aside PCIT’s revisionary order against Synwave Industries, ruling original assessment not erroneous.
ITAT Cochin affirms PCIT’s order for AO to verify loan interest deduction and Section 14A applicability after loan’s business use questioned.
ITAT Bangalore rejected Jurimatrix Services’ appeal citing a 596-day delay and no grievance against a Section 263 order, highlighting the need for timely and forum-appropriate appeals.
ITAT Mumbai quashes PCIT’s revision, confirming Dalal And Broacha Stock Broking’s Section 80G deduction on CSR expenses, citing judicial precedents.
ITAT Ahmedabad held that revisionary proceedings under section 263 of the Income Tax Act justified since PCIT correctly observed that the very basis of disallowance of depreciation was on an incorrect understanding of the facts by AO. Accordingly, revision order upheld.
ITAT Delhi held that claim of interest u/s. 24b of the Income Tax Act was duly examined during original as well as reassessment proceedings. Thus, the plausible view having been taken by the AO cannot be held to be prejudicial to the interests of Revenue.
Jharkhand High Court held that review can only be sought if there is a mistake or an error apparent on the face of the record. A review petition has a limited purpose and cannot be allowed to be ‘an appeal in disguise’. Accordingly, review petition dismissed.
ITAT Delhi held that invocation of provisions of section 40A(3) of the Income Tax Act not justifiable as income is estimated on the basis of gross profit rate. Thus, disallowance u/s. 40A(3) set aside and appeal stands allowed.
