In a major setback to Bennett Coleman, the Bombay High Court held that the assessee required to pay interest where advance tax  paid is less than 75% of the assessed tax. In respect of the

The Chandigarh Bench of Income Tax Appellate Tribunal ( ITAT ) has held that no addition u/s 153Ccan be made in absence of any incriminating material for a completed assessment. A search and seizure operation

The Income Tax Appellate Tribunal (ITAT), Cochin bench, in a recent ruling held that the amount deposited by the assessee as a security deposit is not taxable on the year of termination of the dealership

The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that Mere ground of being benefitted from fraudulent transaction doesn't prove being a beneficiary to such fraud. The appellant, an individual engaged in the

A division bench of the Delhi High Court has quashed a notice under section 148A of the Income Tax Act, 1961 by observing that the new provision cannot be invoked in case the matter of

The Chennai bench of the ITAT has deleted a re-assessment passed under section 147 of the Income Tax Act, 1961 by holding that there was no failure on the part of the assessee in respect

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the assessee was not aware of the new faceless system and was dependent upon the authorised representative who could not follow up the

The Delhi High Court consisting of Justice Manmohan and Justice Manmeet Pritam Singh Arora held that Section 148A(c) casts duty on AO, by using the expression ‘shall’ to consider the reply of the petitioner/assessee in

The Income Tax Appellate Tribunal (ITAT), Jaipur bench has quashed a penalty order on the ground that the notice proposing the same was not served on the assessee due to change of address. On the

The Karnataka High Court has held that the response sought by AO to show cause notice, giving less than 24 hours, is arbitrary and against the Principles of Natural Justice. The petitioner, MMG Constructions claims

Penalty u/s 271(1)(b) for non-appearance was deleted by the Mumbai bench of Income Tax Appellate Tribunal (ITAT) on completion of scrutiny assessment by the Assessing Officer after condoned the absence of the assessee. Shri Himanshu

A division bench of the Bombay High Court has invalidated a re-assessment order passed by the income tax department against HDFC Bank as the jurisdictional condition for invoking the power under section 147 of the

The Income Tax Appellate Tribunal (ITAT), Mumbai bench directed readjudication due to the failure to produce documents concerning the loan transaction and the purchase and pledge of shares. The Assessing Officer issued a notice under

In a major relief to traders ahead of the assembly polls, the Punjab Government has decided to exempt about 1.50 lakh cases from assessment related to cases of 'C' form from 2014-15 to 2017-18. The

The Central Board of Indirect Taxes and Customs (CBIC) issued a notice inviting the suggestions, views, comments, etc. from the stakeholders for the purpose of Faceless e-Assessment. For the purpose of facilitation of the matters,