Once an assessment is linked to a search operation, it must be reopened under Section 153A/153C & not under Section 1480
Budget 2025: Welcome relief for individuals remitting funds abroad for educational purposes under the Liberalized Remittance Scheme (LRS).
Once a search action U/s 132 forms the foundation of a case, the Revenue must proceed under Section 153A/153C, rather than invoking reassessment under Section 147/148
Original assessment under Section 143(1) do not involve any scrutiny or formation of opinion: Reassessment cannot be considered as Change of Opinion – ITAT Ahmedabad
New Income Tax Bill – 2025 Vs. Clubbing of Income: A Shift from Qualification to Skills in the Income Tax Bill, 2025
For registration under section 12AA, authorities must only ensure the trust’s objectives are genuinely charitable: Supreme Court
Failure to issue a notice under Section 143(2) is a jurisdictional defect, rendering the entire assessment void ab initio: Agra ITAT
Once an assessee has passed away, no valid assessment or reassessment can be carried out in their name
Section 43A not applicable if assessee claimed it on account of foreign exchange fluctuation and there was no actual payment or remittance
