Income Tax : Kerala HC rules no separate challenge needed for Sec 263 remand order before appealing revised assessment; restores Malabar Instit...
Income Tax : Understanding the exclusion of time limits during Court stays in assessment proceedings under Finance Bill 2025 for Income Tax ass...
Income Tax : Explore Section 263 of ITA, 1961, and its implications for revising assessment orders with no discussion on certain issues. Judici...
Income Tax : Explore landmark judgments on capital gain tax exemptions under Sections 54 and 54F of the Income Tax Act. Key highlights from ITA...
Income Tax : Understand the differences between appellate powers u/s 251, revisional powers u/s 263, and 264 of the Income Tax Act, and how the...
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 : Delhi High Court held that no addition on account of sale of fly ash since the entire sale proceeds of fly ash were deposited in a...
Income Tax : By way of this appeal, the assessee has challenged the correctness of the order of the Learned Principal Commissioner of Income Ta...
Income Tax : ITAT Ahmedabad held that revisionary order passed under section 263 of the Income Tax Act in the name of non-existent entity (amal...
Income Tax : ITAT Ahmedabad partly sets aside PCIT order, rules PCIT cannot issue mandatory direction to add income for accommodation entries u...
Income Tax : ITAT upholds PCIT's revision of an assessment order. The AO failed to probe cash payment for a second property purchase, rendering...
ITAT Mumbai held that disallowance of claim of depreciation in respect of 3G spectrum charges is not justified. Accordingly, depreciation on 3G spectrum charges allowed under section 32(1)(ii) of the Income Tax Act.
Jaipur ITAT sets aside PCIT order under Section 263 in Smt. Lata Phulwani case, citing AO’s due inquiry and permissible view on Sec 54F deduction.
ITAT Surat held that addition under section 68 of the Income Tax Act treating transaction as bogus merely on the basis of suspicion, presumptions and probability is not sustainable in law. Accordingly, appeal of assessee allowed.
ITAT Hyderabad held that disallowance under section 14A of the Income Tax Act is rightly deleted by CIT(A) since assessee has not earned any dividend income. Thus, when there is no dividend income, the provisions of section 14A are not applicable.
ITAT Jaipur quashes PCIT order revising assessment of Auro Iron, citing insufficient inquiry and overreach on reassessment grounds.
ITAT Ahmedabad dismisses appeals by GE Power India ex-staff, backing PCIT’s order for fresh assessment due to wrongly claimed tax exemptions on VRS.
ITAT Pune held that denial of exemption under section 10(23C) of the Income Tax Act for bonafide mistake of filing ITR-5 instead of correct ITR-7 not justifiable since the same is just a procedural technical mistake.
ITAT Jaipur held that invocation of revisionary proceedings u/s. 263 of the Income Tax Act not sustainable since AO duly verified investment and payment of ESI/PF.
ITAT Jaipur held that since there is neither error of law nor of facts, the twin condition as required to revise the assessment order is not met out and hence invocation of revisionary power under section 263 of the Income Tax Act is not sustainable in law.
ITAT Mumbai rules PCIT’s revision under Section 263 as erroneous. The tribunal holds non-initiation of penalty proceedings cannot justify revision. Read full case details.
