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 ITAT held that leave encashment of ₹6.97 lakh was fully exempt as it fell within the revised ₹25 lakh ceiling under Notifi...
Income Tax : The ITAT allowed exemption of the entire leave encashment amount after noting that the revised ₹25 lakh ceiling exceeded the amo...
Income Tax : ITAT Hyderabad held that assessment orders passed pursuant to earlier remand directions were barred by limitation under Section 15...
Income Tax : The Bombay High Court held that reassessment proceedings became time-barred because no reassessment order was passed within the li...
Income Tax : The ITAT Kolkata held that delayed filing of Form No. 67 is only a procedural defect and cannot deprive an assessee of Foreign Tax...
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.
Delhi High Court overturns order in Interglobe Enterprises vs. PCIT case, ruling that ₹1.51 crore interest income cannot be taxed twice. Case remanded for reassessment.
Delhi HC clarifies the wide scope of Section 264 of the Income Tax Act, emphasizing that the Commissioner must address errors leading to over-assessment, even if raised for the first time in a revision application.
Delhi High Court held that suo moto disallowance with bona fide yet mistaken belief that amount is liable to be offered for taxation, such mistake can be rectified via revision application under section 264 of the Income Tax Act.
