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...
If AO adopts a plausible view, even if two views are possible, the assessment cannot be deemed erroneous merely because the PCIT holds a different opinion.
Detailed analysis of the ITAT Jodhpur decision in Gaurav Purohit vs PCIT, covering the grounds of appeal, legal arguments, and implications for future cases.
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.
