Income Tax : Tribunal held that an assessment is void when the competent officer does not issue the mandatory notice. Jurisdiction cannot arise...
Income Tax : Understand the three core processes of Indian Income Tax: Rectification of mistakes (Sec 154), the four types of Assessment (Summa...
Income Tax : The Tribunal held the assessment invalid as no mandatory notice under Section 143(2) was issued. The key takeaway is that absence ...
Income Tax : ITAT held that reassessment without issuing notice under Section 143(2) is invalid, even if return was filed late. The ruling emph...
Income Tax : Despite disputes over agricultural income additions, the Tribunal focused on the legality of the proceedings. It held that issuing...
Income Tax : The Tribunal ruled that reassessment proceedings initiated against a dead person are void in law. A valid notice must be issued to...
Income Tax : While deleting the interest disallowance on merits, the Tribunal remanded the brought-forward loss issue for limited verification....
The ITAT held a reassessment under sections 144/147 void due to the absence of a mandatory 143(2) notice. Revenue’s claim that participation cures defects under 292BB was rejected, emphasizing strict compliance with statutory notice requirements.
Understand the three core processes of Indian Income Tax: Rectification of mistakes (Sec 154), the four types of Assessment (Summary, Scrutiny, Best Judgment, and Reassessment), and the Appeal mechanism to CIT(A)/ITAT against adverse orders.
Tax treatment of a foreign exchange fluctuation depended entirely on the nature of the underlying asset or liability. Gains or losses on capital items (like a long-term investment or loan) were not typically recognized for tax purposes until the asset was actually sold or the loan was repaid.
ITAT Chennai quashes assessment because the notice u/s 143(2) was issued by a non-jurisdictional AO after jurisdiction transfer u/s 127 was effective. Jurisdictional error is fatal; entire assessment declared void ab initio.
ITAT Visakhapatnam held that assessment order passed under section 144 of the Income Tax Act without issuance of notice under section 143(2) is not sustainable and liable to be quashed since failure to issue notice u/s. 143(2) cannot be cured u/s. 292BB.
ITAT Delhi held that approval granted under section 151 of the Income Tax Act in mechanical manner without application of mind hence reopening of assessment based on such mechanical order is liable to be quashed.
Delhi High Court held that notice sent to email address available at website of MCA is proper service of notice. Thus, order passed doesn’t violate principles of natural justice. Accordingly, writ petition is dismissed.
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.
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 Delhi held that assessment framed u/s. 147 invalid due to non-issuance of notice u/s. 143(2) of the Income Tax Act against return filed in response to notice u/s 148. Accordingly, appeal of the assessee allowed.
