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Reassessment Beyond 4 Years Without New Material Invalid: ITAT Quashes ₹3.40 Cr S. 80IB(10) Disallowance [Read Order]

The Income Tax Appellate Tribunal, Mumbai Bench quashed income tax reassessment proceedings against Komal Enterprises holding that a reassessment...

FAO or JAO? Who Can Issue Income Tax Reassessment Notice: Full Explanation

Supreme Court Upholds Gujarat HC Order Quashing Income Tax Reassessment Against Adani Wilmar,...

Income Tax Reassessment Jurisdiction Fails Without Fresh Material: SC Upholds Gujarat HC in GTPL...

Land Sale Allegation Based on Insight Portal Collapses: ITAT Quashes Income Tax Reassessment [Read...

Rajeev Bansal Rulling Applies: SC Dismisses Revenue Appeal on Income Tax Reassessment Notices [Read Order]

The Supreme Court dismissed the Special Leave Petition (SLP) filed against the Bombay High Court’s judgment quashing reassessment proceedings, holding that the issue stands squarely covered by its...

Income Tax Reassessment against Company after Liquidation is Invalid: Madras HC [Read Order]

In a recent ruling, the Madras high court has held that income tax reassessment proceedings initiated against a company after the liquidation of the company is invalid. As per the writ petition filed...

Madras HC Quashes Income Tax Reassessment Against Cognizant, Upholds 60% Depreciation on Computer Software for AY 2002-03 [Read Order]

In a recent judgment, the Madras High Court quashed the reassessment proceedings against the assessee as time-barred. It upheld the company's entitlement to claim 60% depreciation on computer...

Service of Notice before Income Tax Reassessment is Mandatory: Jharkhand HCC Quashes Penalty u/s 271(1)(b) [Read Order]

The Jharkhand High Court has held that valid service of notice is a mandatory jurisdictional requirement before initiating reassessment proceedings under the Income Tax Act, 1961, and quashed the...

Bogus Royalty Expenses Exceed ₹50 Lakh: Bombay HC upholds Income Tax Reassessment Beyond 3 Years [Read Order]

The Bombay High Court at Goa has clarified that income tax reassessment proceedings initiated beyond three years are valid where the alleged bogus royalty expenses exceed ₹50 lakh. The ...

Pending Income Tax Re-assessment Proceedings not a Bar to Institution of Criminal Prosecution: Delhi HC Sustains Complaints [Read Order]

The Delhi High Court in a recent matter held that the pendency of income tax reassessment proceedings does not vitiate the institution of criminal prosecution under the Income Tax Act, 1961. ...

Unfinalised Income Tax Reassessment not a Ground to Deny DTVSV Scheme Benefits: Kerala HC [Read Order]

The Kerala High Court has held that the mere initiation of reassessment proceedings, which remain unfinalized, cannot be a ground to deny an assessee the benefits available under the Direct Tax...