Income Tax : ITAT Mumbai held that an addition under Section 69A cannot be sustained when the assessee is denied the opportunity to cross-exami...
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 : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : A detailed look at how the Finance Act, 2021 reshaped Sections 147–151, introduced Section 148A, and reduced limitation periods ...
Income Tax : The Finance Bill, 2026 clarifies who can issue notices under sections 148 and 148A. It confirms that only jurisdictional Assessing...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : Discover how Finance Act 2021 revamped assessment and reassessment procedures under Income-tax Act, impacting notices, time limits...
Income Tax : Income Tax Gazetted Officers’ Association requested CBDT to issue Clarification in respect of the judgement of Hon’ble Supreme...
Income Tax : In view of Indiscriminate notices by income Tax Department without allowing reasonable time it is requested to Finance Ministry an...
Income Tax : Lucknow CA Tax Practicioners Association has made a Representation to FM for Extension of Time Limit for Assessment cases time bar...
Income Tax : The High Court held that issuing a demand notice along with a draft assessment order violated the mandatory procedure under Sectio...
Income Tax : The Tribunal ruled that vague information and an excel sheet prepared by the Investigation Wing could not satisfy the statutory re...
Income Tax : ITAT Mumbai noted that the excel sheets relied upon by the Revenue had not been established in accordance with legal requirements ...
Income Tax : ITAT Mumbai held that an addition based solely on a builder's statement could not survive without evidence directly linking the as...
Income Tax : The ITAT Delhi held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on an investigatio...
Income Tax : ITAT Chandigarh held that ITO Ward-3(1), Chandigarh had no jurisdiction to issue notice to an NRI and hence consequently the asses...
Excise Duty : Notification No. 29/2024-Central Excise rescinds six 2022 excise notifications in the public interest, effective immediately. Deta...
Income Tax : Learn how to initiate proceedings under section 147 of the IT Act in e-Verification cases. Detailed instructions for Assessing Off...
Income Tax : Explore e-Verification Instruction No. 2 of 2024 from the Directorate of Income Tax (Systems). Detailed guidelines for AOs under I...
Income Tax : Supreme Court in the matter of Shri Ashish Agarwal, several representations were received asking for time-barring date of such cas...
The High Court held that issuing a demand notice along with a draft assessment order violated the mandatory procedure under Section 144C. Since the assessment had effectively been completed at the draft stage, the reassessment orders were quashed.
The Tribunal ruled that vague information and an excel sheet prepared by the Investigation Wing could not satisfy the statutory requirement of reason to believe under Section 147. It emphasized that reassessment powers cannot be exercised on mere suspicion. The notice issued under Section 148 was therefore quashed.
ITAT Mumbai noted that the excel sheets relied upon by the Revenue had not been established in accordance with legal requirements governing electronic evidence. Since the material lacked evidentiary support, the addition for Alleged On-Money Payment could not survive.
ITAT Mumbai held that an addition based solely on a builder’s statement could not survive without evidence directly linking the assessee to the alleged cash payment. The ₹4 lakh addition was deleted for lack of corroboration.
The ITAT Delhi held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on an investigation report without applying independent mind. The Tribunal ruled that such material did not establish a valid reason to believe that income had escaped assessment.
ITAT Mumbai held that an addition under Section 69 could not be sustained merely on the basis of statements recorded from representatives of the builder group. In the absence of incriminating material directly linking the assessee to the alleged cash payment, the addition of ₹31 lakh was deleted.
The Gujarat High Court upheld deletion of a loss disallowance after finding that contract notes, banking records, and trading documents supported the genuineness of the share transactions. The Court held that no substantial question of law arose.
ITAT Hyderabad held that reassessment beyond three years was invalid as the Assessing Officer failed to demonstrate that the alleged escaped income was represented by an asset, expenditure, or book entry as required under Section 149(1)(b). The ruling underscores the mandatory jurisdictional conditions for reopening assessments.
Assessee was entitled to deduction under section 54F in respect of the entire value of all 50 residential flats receivable under the Joint Development Agreement. Prior to the amendment effective from 01.04.2015, exemption under section 54F could not be restricted merely because the investment was made in multiple residential units.
The High Court revisited reassessment disputes after the Supreme Court took note of the retrospective insertion of Section 147A. The matters were remanded for fresh consideration with liberty to challenge the amended provision.
