Income Tax : An overview of Section 144 of the Indian Income Tax Act, which allows an Assessing Officer to make a best judgment assessment in c...
Income Tax : An analysis of Sections 263 and 264 of the Income-tax Act, 1961. It details the conditions, scope, and judicial precedents for the...
Income Tax : The High Court held that once a resolution plan under IBC extinguishes prior tax liabilities, reassessment cannot be initiated. Th...
Income Tax : The Tribunal held that delay in filing Form 67 is a procedural lapse. It restored the matter to the AO to verify and allow Foreign...
Income Tax : The tribunal examined whether penalties could continue when the fresh assessment order did not record satisfaction for initiating ...
Income Tax : The Tribunal accepted that the deposits represented funds withdrawn earlier for house construction. Since the explanation was supp...
Income Tax : The Tribunal held that where the AO had examined and accepted exemption on interest under Section 28 of the Land Acquisition Act, ...
An overview of Section 144 of the Indian Income Tax Act, which allows an Assessing Officer to make a best judgment assessment in cases of non-compliance.
An analysis of Sections 263 and 264 of the Income-tax Act, 1961. It details the conditions, scope, and judicial precedents for these revisional powers.
ITAT Delhi ruled a CIT(A) order invalid, stating it had no jurisdiction once a superior authority (PCIT) had already allowed a revision under Section 264.
ITAT Bangalore ruled that an AO cannot re-initiate assessment after a PCIT ‘sets aside’ an order without providing fresh directions, quashing a cash deposit addition.
Kerala High Court rules Section 264 revisional authority can only review existing orders, not issue directions to Assessing Authority; clarifies limitation period.
Gujarat High Court held that Revisional authority ought to have taken into consideration that AO has to pass best judgement assessment order without granting an opportunity of being heard. Thus, matter remanded back to AO for de novo consideration.
ITAT Ahmedabad held that section 275(1A) of the Act empowers AO to impose or enhance or reduce or cancel penalty pursuant to the quantum appeal before higher appellate authority or court by giving effect to the quantum order.
Madras High Court held that re-opening of assessment u/s. 147 must be based on some tangible material without such tangible material, re-opening is merely inspired from change of opinion and hence the same is liable to be quashed.
Karnataka High Court dismisses writ petition challenging a tax liability order under Section 179 of the IT Act, citing an alternative remedy under Section 264.
Karnataka High Court rules on TDS applicability under Section 195 of the Income Tax Act in the case of Abbey Business Services India Pvt. Ltd. vs. Director of Income-Tax.
