![Income Tax Reassessment Based Solely on Audit Objection After Scrutiny is Change of Opinion: Delhi HC [Read Order]](https://images.taxscan.in/h-upload/2026/02/20/2126524-income-tax-reassessment-13jpg.webp "Income Tax Reassessment Based Solely on Audit Objection After Scrutiny is Change of Opinion: Delhi HC [Read Order]")
Income Tax Reassessment Based Solely on Audit Objection After Scrutiny is Change of Opinion: Delhi HC [Read Order]
In a recent ruling, the Delhi High Court held that income tax reassessment initiated solely on the basis of an audit objection, after the issue was...
![TDS Refund cannot be Indefinitely Delayed after Success in Appeal: Jharkhand HC Orders Time-Bound Action by Income Tax Authorities [Read Order]](https://images.taxscan.in/h-upload/2026/02/21/2126567-tds-refund-cannot-be-indefinitely-jharkhand-hc-income-tax-authorities.webp "TDS Refund cannot be Indefinitely Delayed after Success in Appeal: Jharkhand HC Orders Time-Bound Action by Income Tax Authorities [Read Order]")
S. 158BA(2) Abatement Not Automatic Unless Case Falls Under Block Assessment Scheme: Orissa HC Refuses to Quash Scrutiny Assessment after Search [Read Order]
In a recent ruling, the Orissa High Court held that abatement under Section 158BA(2) is not automatic just because a search is conducted, and it applies only when the case actually falls under the...
![S. 158BA(2) Abatement Not Automatic Unless Case Falls Under Block Assessment Scheme: Orissa HC Refuses to Quash Scrutiny Assessment after Search [Read Order]](https://images.taxscan.in/h-upload/2026/02/20/2126505-158ba2-abatement-automatic-case-assessment-scheme-orissa-hc.webp "S. 158BA(2) Abatement Not Automatic Unless Case Falls Under Block Assessment Scheme: Orissa HC Refuses to Quash Scrutiny Assessment after Search [Read Order]")
Mere Inclusion of Scrip in ‘Penny Stock’ List without Material Evidence of Price Manipulation Not Justify Addition: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that mere inclusion of a company’s shares in an investigation report as a “penny stock”, without material evidence is not...
![Mere Inclusion of Scrip in ‘Penny Stock’ List without Material Evidence of Price Manipulation Not Justify Addition: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/02/20/2126504-penny-stock-11jpg.webp "Mere Inclusion of Scrip in ‘Penny Stock’ List without Material Evidence of Price Manipulation Not Justify Addition: ITAT [Read Order]")
SCN issued by JAO instead of FAO, Prima Facie Income Tax Reopening Time-Barred: Calcutta HC Stays Reassessment [Read Order]
In a recent ruling, the Calcutta High Court stayed the reassessment proceedings for AY 2015-16, noting prima facie that the reopening appears time‑barred under Section 149 of the Income Tax Act....
![SCN issued by JAO instead of FAO, Prima Facie Income Tax Reopening Time-Barred: Calcutta HC Stays Reassessment [Read Order]](https://images.taxscan.in/h-upload/2026/02/20/2126488-reassessmentjpg.webp "SCN issued by JAO instead of FAO, Prima Facie Income Tax Reopening Time-Barred: Calcutta HC Stays Reassessment [Read Order]")
Income Tax Dept Issues Notices to High-Earning Executives Over Misuse of HRA, LTA, and Undisclosed Assets. [Read Order]
The Income Tax Department has launched a major compliance drive, issuing notices to dozens of senior executives earning more than ₹50 lakh annually. The notices allege misuse of exemptions such as...
![Income Tax Dept Issues Notices to High-Earning Executives Over Misuse of HRA, LTA, and Undisclosed Assets. [Read Order]](https://images.taxscan.in/h-upload/2026/02/19/2126398-income-tax-dept-issuesjpg.webp "Income Tax Dept Issues Notices to High-Earning Executives Over Misuse of HRA, LTA, and Undisclosed Assets. [Read Order]")
Reduction of Accumulated Income for Charitable Trust Due to Technical Glitch in Form 10B: ITAT Remitted the Matter to AO [Read Order]
The Income Tax Appellate Tribunal (ITAT), Lucknow Bench, remitted the matter to the Assessing Officer (AO) after the Centralized Processing Centre (CPC) reduced the accumulated income of a...
![Reduction of Accumulated Income for Charitable Trust Due to Technical Glitch in Form 10B: ITAT Remitted the Matter to AO [Read Order]](https://images.taxscan.in/h-upload/2026/02/19/2126392-reduction-of-accumulated-income-charitable-trust-due-to-technical-glitch-in-form-10b-itat-remitted-the-matter-to-ao.webp "Reduction of Accumulated Income for Charitable Trust Due to Technical Glitch in Form 10B: ITAT Remitted the Matter to AO [Read Order]")
![PCIT Must Explain How Income Tax Assessment Order is Erroneous u/s 263: ITAT Allows Appeal [Read Order]](https://images.taxscan.in/h-upload/2026/02/18/2126269-explain-how-income-tax-assessment-order.webp "PCIT Must Explain How Income Tax Assessment Order is Erroneous u/s 263: ITAT Allows Appeal [Read Order]")
Disallowed Payments due to Inconsistency in Statements and Transactions Held Unreasonable as per Income Tax Act: ITAT Allows Appeal [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, allowed an appeal in the case where disallowances were made without appreciating the facts. The tribunal made note of the delay of 87 days and...
![Disallowed Payments due to Inconsistency in Statements and Transactions Held Unreasonable as per Income Tax Act: ITAT Allows Appeal [Read Order]](https://images.taxscan.in/h-upload/2026/02/18/2126272-disallowed-payments-d-statements-and-transactions-income-tax-act-itat-allows-appeal-.webp "Disallowed Payments due to Inconsistency in Statements and Transactions Held Unreasonable as per Income Tax Act: ITAT Allows Appeal [Read Order]")