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 court highlighted that jurisdiction under Section 263 should not be exercised at the instance of the assessing officer. This precedent reinforced the Tribunal’s decision to set aside the PCIT’s order in Reeta Lakhmani’s case.
Explore the Calcutta High Court judgment in PCIT Vs Kaushalya Dealers Pvt Ltd under Income Tax Act 1961, focusing on Section 263 jurisdictional issues and assessment validity.
Detailed analysis of Dharam Singh Vs PCIT (ITAT Delhi) case where ITAT Delhi ruled that revisionary power can’t be invoked solely on improper inquiry allegations by AO.
The ITAT Bangalore ruled that income tax additions can’t be based solely on unsubstantiated loose slips, emphasizing the need for corroborative material evidence.
ITAT Jaipur rules that AO’s non-addition of bogus LTCG does not make the order automatically erroneous. Detailed analysis of Vipul Kumar Modi vs PCIT case.
In the case of Wellman Logistics Pvt. Ltd Vs ACIT, ITAT Kolkata deletes income tax addition u/s 68, proving creditworthiness of share subscribers and genuineness of transactions with supported documents.
Dive into the detailed analysis of the Calcutta High Court judgment in PCIT Vs Bina Gupta, addressing substantial questions of law regarding income tax implications on Long Term Capital Gain from penny stock sales.
In Karan Jain vs. Union of India, Guwahati High Court rules that non-disclosure of exempt LTCG does not result in revenue loss. Detailed analysis and conclusion provided.
Madras High Court dismisses writ petition challenging revision order under Section 263 of IT Act, directing pursuit of statutory appeal.
Rajendra Kumar Mishra vs. ACIT case: ITAT Kolkata directs re-evaluation as AO misinterpreted PCIT’s orders on loan payments.
