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 held that order under section 263 of the Income Tax Act passed on the issues for which no show cause notice has been issued is unjustifiable and hence liable to be quashed.
ITAT Ahmedabad held that disallowance under section 14A of the Income Tax Act cannot exceed exempt income. Thus, disallowance u/s. 14A restricted to the extent of exempt income.
Rajasthan High Court held that since reassessment order is distinct and different, the period of limitation for exercising powers u/s. 263 of the Income Tax Act would be the date of original assessment order. Thus, entire proceedings barred by limitation.
ITAT Ahmedabad held that non application of mind or wrong assumption of facts or incorrect application of law by the A.O. will make the order erroneous and pre-judicial to the interest of revenue. Thus, as order passed without adequate inquiry, revision u/s. 263 justified.
ITAT Mumbai held that PCIT grossly erred in assuming jurisdiction u/s. 263 of the Income Tax Act as assessment order has been framed in the name of a non-existing assessee.
ITAT Ahmedabad held that invocation of section 263 by PCIT unjustified due lack of sufficient evidence to support claim that the order is erroneous and prejudicial to the interest of revenue.
ITAT Chennai held that the assessee is a cottage industry and the entire income is attributable to business of the society and hence eligible to claim Interest earned on deposit also as deduction U/s.80P(2)(a)(ii) of the Income Tax Act.
Delhi High Court held that department need to comply with the order of the Tribunal in passing a fresh assessment order within the time limit prescribed under section 153(3) of the Income Tax Act. Thus, notices initiating fresh assessment set aside.
ITAT Chennai held that invoking the revisionary powers under section 263 of the Income Tax Act without giving any reasoning for setting aside the assessment order and merely directing AO verification without any basis is unjustifiable.
Delhi High Court held that Dividend Distribution Tax (DDT) is liable to be paid by the company which declares, distributes or pays the same. Petitioner, herein, has received interest income from Non-convertible debentures and accordingly cannot be subject to DDT.
