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 Chennai held that assessment order passed without examining the seized documents is prejudicial to the interest of revenue and hence the revisionary order passed under section 263 of the Income Tax Act duly sustainable.
ITAT Delhi held that provisions of section 11(3) states that donations given out of accumulated funds u/s 11(2) of the Income Tax Act of earlier previous years are not allowable as application of income for charitable or religious purposes and the same shall be deemed to be income of the assessee.
A detailed analysis of the ITAT Chennai’s ruling on Trimex Sands Pvt. Vs PCIT. The court allows income tax deductions, recognizing mineral extraction from beach sand as manufacturing u/s 2(29BA) of the Income Tax Act.
ITAT Mumbai quashes PCIT order against Masani Engineering Co. Pvt Ltd . Explore detailed analysis of why allegations of understated revenue in P&L were baseless.
An in-depth analysis of the case between Majestic Properties Pvt. Ltd and PCIT at ITAT Delhi. The case examines the limitations of revisionary power under section 263 based on audit objections. Discover key outcomes and implications.
ITAT Ahmedabad held that provisions of Section 269ST of the Income Tax Act 1961 would apply to undisclosed income which was declared during the survey proceedings.
ITAT Raipur held that revisionary jurisdiction under section 263 of the Income Tax Act rightly invoked as there is a gross failure on the part of the A.O to verify the nature and source of the cash deposits.
ITAT Rajkot held that invocation of revisionary jurisdiction u/s 263 non-invocation of section 115BBE of the Act on the addition made on account of unexplained sundry creditors u/s. 68 of the Act is duly justifiable.
Analyzing the recent ITAT Delhi ruling in Navneet Bhardwaj Vs PCIT, which nullified a revisionary order under section 263 of the Income Tax Act for AY 2016-17, touching upon the legal intricacies and implications.
ITAT Ahmedabad held that reopening of assessment u/s. 147 of the Income Tax Act after four years without any tangible material amounts to change of opinion and according the same is invalid and liable to be quashed.
