Income Tax : Section 292B is considered as a protection to the Income tax authorities for most of short comings in proceedings due to technical...
Income Tax : Our focus of the article will be on section 144B of the Income-tax Act, 1961 (Act) which has been introduced with effect from 01.0...
Income Tax : It is noticed that the department has lost the revenue in number of cases mainly on account of fatal mistake made by the AO in iss...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : ITAT Bangalore held that an assessment order passed in the name of an amalgamated bank after it had ceased to exist is void ab ini...
Income Tax : ITAT Delhi held that consolidated approvals granted without application of mind under Section 153D were invalid. Consequently, the...
Income Tax : Mumbai ITAT held that an order labelled as a draft assessment order loses its character if accompanied by demand notices and penal...
Income Tax : The Delhi ITAT held that unsigned reasons recorded for reopening assessment constituted a jurisdictional defect that invalidated t...
ITAT annulled demands for AYs 2017-18 & 2018-19, holding that corpus donations, capital expenditure, and statutory accumulation by Rohilkhand Educational Charitable Trust qualify as charitable application, and cash deposits during demonetisation are not taxable under Section 68.
ITAT Bangalore quashes assessments against Blueline Foods, ruling that a survey is not a valid search and that a panchanama in the company’s name is required.
ITAT Chennai held that passing of an order in the name of dead/ deceased person is not sustainable in law. Accordingly, revisionary order passed by PCIT is liable to be quashed and set aside.
Bombay High Court dismisses revenue’s appeal, affirming that income tax penalty notices must clearly specify grounds of concealment or inaccurate particulars.
ITAT Jodhpur held that issuance of re-assessment notice under section 148 of the Income tax Act to non-existent firm and to deceased partners is invalid issuance of notice. Accordingly, order passed thereon is liable to be quashed.
Delhi High Court held that valuation of unquoted equity shares held by the assessee by Discounted Cash Flow [DCF] method is permissible under rule 11UA(2) of the Income Tax Rules. Accordingly, appeal of revenue dismissed.
ITAT Allahabad held that renting out of property on day-to-day basis and providing certain facilities to those who would be taking premises on rent seems to be an organized activity of composite nature. Hence, income from the same is treated as business income.
Gauhati High Court held that in view of provisions of section 292B and 292BB of the Income Tax Act the right of assessee has been restricted to challenge the validity of notice issued by Income Tax Officer (ITO) or assessment order passed by DCIT.
ITAT Rajkot held that the reassessment notice under section 148 of the Income Tax Act has been issued without obtaining the approval as prescribed under amended provision of section 151 of the Act is liable to be quashed. Accordingly, appeal of assessee allowed.
ITAT Ahmedabad held that assessment order passed against non-existent entity is an invalid assessment order and hence entire assessment framed is liable to be quashed. Accordingly, appeal of assessee allowed.
