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Income Tax Notice

Received an Income Tax Notice for Mismatch or High-Value Transactions? Here’s What to Do

In recent days, many taxpayers have received emails and messages from the Income Tax Department pointing out differences between their Income Tax...

Savings from Foreign Salary Not Taxable: ITAT deletes Income Tax Notice against Dubai NRI for ₹2 Cr...

Change of Opinion Bars Reopening: Calcutta HC sets aside Income Tax Notice against Coal Manufacturer...

Income Tax Notice issued to Deceased Invalid: Calcutta HC orders to Re-initiate Proceedings against...

Income Tax Notice issued u/s 148 Invalid Without Signature: Karnataka HC dismisses Revenue's Appeal...

Parallel Reassessment Proceedings Invalid: Delhi High Court quashes Second S.148 Income Tax Notice as Void [Read Order]

The bench of the Delhi High held that reassessment proceedings initiated through a second notice under Section 148 of the Income Tax Act, 1961 were invalid, being both time-barred and constituting...

How Much Gold and Silver Can You Keep at Home in India without Paying Tax or Getting Income Tax Notice

Gold and silver hold a special place in Indian households. For many families, jewellery and coins are not just ornaments or investments; they represent culture, emotion, and financial security but...

Delhi HC Upholds Order sets aside Income Tax Notice issued u/s 153C Beyond Six years [Read Order]

In a recent case, the Delhi High Court upheld the order which set aside the notice issued under section 153C of the IncomeTax Act, 1961 , beyond six years. It was viewed that the substantial...

Income Tax Notice u/s 12AB(4)(a) Unsustainable During Pending Challenge to FCRA Certificate Cancellation: Delhi HC quashes Notice against CHRI [Read Order]

The Delhi High Court has quashed an Income Tax notice issued under Section 12AB(4)(a) of the Income Tax Act, 1961 against the Commonwealth Human Rights Initiative (CHRI), holding that such action...

Non-Issuance of Income Tax Notice u/s 143(2) cannot be Cured u/s 292BB: ITAT [Read Order]

The Visakhapatnam Bench of the Income Tax Appellate Tribunal (ITAT) examined whether an assessment finalized under Section 144 of the Income Tax Act, 1961 (Act), without issuance of a mandatory...

No Legal Mechanism Existed to Compute Capital Gains on Unlisted OFS Shares Before 2024 Amendment: Allahabad HC Quashes Income Tax Notice [Read Order]

In a recent judgment, the Allahabad High Court (Lucknow Bench) quashed a search and notice, holding that prior to the amendment of Section 55(2)(ac) in September 2024, there was no legal mechanism...

ROC cannot File Criminal Complaint While Company’s Penalty Appeal u/s 454(8) is Pending: Kerala HC [Read Order]

In a recent judgment, the Kerala High Court held that the Registrar of Companies (ROC) cannot file a criminal complaint under Section 454(8) of the Companies Act while the company’s statutory appeal...