Income Tax

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

19 Apr at 7:48 am

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

Income Tax

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

19 Apr at 6:30 am

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

Income Tax

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

19 Apr at 3:47 am

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

Income Tax

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

19 Apr at 1:49 am

Non filing of MSME-1 by Companies may attract penalty up to Rs. 3 Lakh For all companies in India…

Income Tax

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

19 Apr at 1:28 am

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

Income Tax

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

18 Apr at 7:32 am

No notice u/s 143(2) issued by the AO – ITAT Quashed Assessment as Jurisdiction Kolkata ITAT held that “……..Therefore,…

Income Tax

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

18 Apr at 6:17 am

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

Income Tax

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

18 Apr at 1:23 am

Unsigned notices are void ab initio and cannot confer jurisdiction or attract any legal consequence Recenlty, ITAT, Delhi Quashes…

Income Tax

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

17 Apr at 8:39 am

AO must independently form a reasoned belief while initiating proceedings u/s 147: Bombay HC In its recent pronouncement in…

Income Tax

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

17 Apr at 5:04 am

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

Income Tax

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

17 Apr at 1:30 am

Private Discretionary Trust: Surcharge is applicable at respective surcharge slab rate: SB- Mumbai ITAT Recently, Special Bench of Mumbai ITAT…

Income Tax

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

16 Apr at 6:32 am

Lack of Jurisdiction and Non-Application of Mind by AO: ITAT declared Reassessment Proceedings as invalid, deleted addition of Rs. 12.39…

Income Tax

ITAT granted relief with regard to the jewellery of the married daughter kept at parent house

16 Apr at 5:29 am

ITAT granted relief with regard to the jewellery of the married daughter kept at parent house ITAT DELHI:- PREM…

Income Tax

ITAT Quashed the Assessment order as Actual Income Escapement was below ₹ 50 Lakhs

16 Apr at 5:00 am

ITAT Quashed the Assessment order as Actual Income Escapement was below ₹ 50 Lakhs Recently, the ITAT has quashed the assessment…

Income Tax

No exemption available if the construction done before the date of capital gain

16 Apr at 4:26 am

No exemption available if the construction done before the date of capital gain The ITAT Pune, in the case…

Income Tax

Bombay High Court Grants Interim Relief to Hindustan Coca-Cola in ₹2,500 Cr GST Dispute!

16 Apr at 1:35 am

Bombay High Court Grants Interim Relief to Hindustan Coca-Cola in ₹2,500 Cr GST Dispute! In a significant development, the Bombay…

Income Tax

No addition could be made on the basis of ‘Mobile data or loose paper in the absence of corroborative evidence: ITAT Chandigarh

16 Apr at 1:24 am

No addition could be made on the basis of ‘Mobile data or loose paper in the absence of corroborative evidence:…

Income Tax

Condonation of Delay before CIT-A or ITAT or HC: Few case laws taxpayers can rely upon

15 Apr at 7:38 am

Condonation of Delay before CIT-A or ITAT or HC: Few case laws taxpayers can rely upon In tax litigation, delays…

Income Tax

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

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

ITAT granted relief with regard to the jewellery of the married daughter kept at parent house

ITAT Quashed the Assessment order as Actual Income Escapement was below ₹ 50 Lakhs

No exemption available if the construction done before the date of capital gain

Bombay High Court Grants Interim Relief to Hindustan Coca-Cola in ₹2,500 Cr GST Dispute!

No addition could be made on the basis of ‘Mobile data or loose paper in the absence of corroborative evidence: ITAT Chandigarh

Condonation of Delay before CIT-A or ITAT or HC: Few case laws taxpayers can rely upon

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