Section 72(c) of the Black Money Act

Recent Posts

• 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