Sales recorded in books of account, even if alleged to be in genuine, do not result in income escaping assessment: Delhi HC

Amount received by illegal occupant is tax free?

No Addition u/s 153A without incriminating material found during search – Statements of third parties not sufficient: ITAT Delhi

Tax Payment Postponed, ₹30 Lakh Earned – All Thanks to a Smartly Timed Sale

Reason to believe for Reassessment: AO must exercise discretion independently and not under the dictates of other authorities.

Re-assessment is valid if the AO independently verifies information and forms a reasoned belief of income escaping assessment.

Assessment order passed on a non-existent entity due to amalgamation is invalid considering the applicability of Section 170(2) of the Income Tax Act

Non filing of MSME-1 by Companies may attract penalty up to Rs. 3 Lakh

Courts, Sub-Registrars must report if they come across cash transactions over Rs. 2 Lakhs to Income Tax Department: Supreme Court

No notice u/s 143(2) issued by the AO – ITAT Quashed Assessment as Jurisdiction

Reasons recorded were vague and scanty and the approval has been granted mechanically – ITAT quashed the Reassessment Assessment

Tax demands due to non-reflection of the ITC in GSTR 2A/GSTR 2B despite paying the same to the seller – Landmark order by High Court

Unsigned notices are void ab initio and cannot confer jurisdiction or attract any legal consequence

AO must independently form a reasoned belief while initiating proceedings u/s 147: Bombay HC

Unsecured loans from trustees without prior approval from the Charity Commissioner: ITAT directed CIT (E) for giving Permanent Registration

Private Discretionary Trust: Surcharge is applicable at respective surcharge slab rate: SB- Mumbai ITAT

Lack of Jurisdiction and Non-Application of Mind by AO: ITAT declared Reassessment Proceedings as invalid, deleted addition of Rs. 12.39 Cr done U/s 68

GST ITC Refund on Exports with Tax Payment: Points & Precautions