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Income Tax Assessment

ITAT allows Assessee’s Plea of Farmhouse Construction from Funds Derived from Agricultural Activities, terms income “Undisclosed” [Read Order]

Manu Sharma

The Delhi Bench “A” of the Income Tax Appellate Tribunal (ITAT) has accepted the assessee’s claim that the construction of a farmhouse was funded...

Lack of Valid Approval under Section 153D: ITAT quashes Income Tax Assessment [Read Order]

AO cannot Issue Notice to Reopen Income Tax Assessment after 3 Years Without Pr. CCIT Approval: ITAT...

Income Tax Assessment framed in Name of Non-Existent Entity is Void Ab Initio: ITAT [Read Order]

Relief for Hyundai Motors: Madras HC Rules Reopening Income Tax Assessment on Same Issue After Prior...

No Merit in Assessee’s Objection of Lack of Hearing Opportunity u/s 144A: ITAT Upholds Income Tax Assessment on Best Judgment by AO [Read Order]

ITAT upheld best judgment assessment under section 144 and rejected assessee’s claim of being denied opportunity under section 144A as without merit. The Delhi Bench of the Income Tax Appellate...

Assessing Officer’s ‘Change of Mind’ Not Valid Ground for Reopening Assessment : Madras HC [Read Order]

The Madras High Court has held that a mere ‘change of mind’ by the Assessing Officer (AO) cannot justify the reopening of a completed income tax assessment under Section 147 of the Income Tax Act,...

Failure to Follow SOP in Faceless Proceedings for Non-Responsive PAN Holder: Gujarat HC Quashes Income Tax Assessment [Read Order]

The High Court of Gujarat, quashed an income tax assessment order after finding that the Income Tax Department failed to follow the mandatory Standard Operating Procedure (SOP) in faceless...

Relief to Lupin Ltd: Bombay HC Quashes Arbitrary Reopening of Income Tax Assessment Citing Lack of New Evidence [Read Order]

In a recent ruling, the Bombay High Court quashed an arbitrary notice issued seeking to reopen the assessment for Lupin Limited without any fresh evidence. The case involved Lupin Limited (the...

Relief to Shri Sai Baba Sansthan Trust: Bombay HC halts Reopening Income Tax Assessment of A.Y. 2014-15 [Read Order]

The Bombay High Court granted relief to the The Shri Saibaba Sansthan Trust - Shirdi (Saibaba Trust), preventing the Revenue from reopening the assessment of the Trust for the Assessment Year (A.Y.) ...

Revenue Demands ₹14.58 Crore Alleging Undisclosed Land Sale Receipts: Madras HC quashes Order Citing Insufficient Evidence [Read Order]

In a recent ruling, the Madras High Court quashed a tax demand of ₹14.58 crore over an alleged undisclosed cash receipt related to a land sale transaction citing insufficient evidence provided by the...

Madras High Court - Land sale cases in Madras HC - Undisclosed land sale cases - Madras HC land sale case decision - TAXSCAN

Income Tax Case Digest: Addition on Cash Deposits - Part 3

Unexplained cash deposits have been a focal point of scrutiny in the Indian income tax framework. Section 69A of the Income Tax Act, 1961, is a crucial provision empowering tax authorities to tax...