Read all Latest Updates on and about Section 142(1) of the Income Tax Act

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Section 142(1) of the...

SC Declines to Intervene in Delayed Income Tax Reassessment Challenge, Affirms Duty to Cooperate with Authorities [Read Order]

In a recent ruling, the Supreme Court refused to interfere with the writ petition that had been filed more than a year after the reassessment order...

Penalty for Non-Compliance of Notices not Leviable where Assessment Completed u/s 143 based on...

Disallowed Payments due to Inconsistency in Statements and Transactions Held Unreasonable as per...

Dropping Issue During Income Tax Scrutiny for Lack of Material is Not ‘Change Of Opinion’: Calcutta...

Relief for Viacom 18 Media: ITAT Rules AO Made Adequate Inquiry on ₹195.32 Cr Depreciation of...

IBC Trumps Income Tax Law: Bombay HC Upholds Extinguishment of Pre-Resolution Claims [Read Order]

The Bombay High Court has allowed challenging two notices issued by the National Faceless Assessment Centre under the Income Tax Act, 1961, for Assessment Year 2024-25 and upheld the extinguishment...

Only One-Day Granted to Respond to SCN: ITAT sets aside Ex-Parte Order, Condones Delay Caused by Husband’s Death [Read Order]

The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) allowed the appeal, holding that the delay in filing her appeal was due to sufficient cause, namely her husband’s serious illness...

Income Tax Notices Unanswered as Authorised Representative Hospitalised for Surgery: Madras HC grants Opportunity to File Reply [Read Order]

The Madras High Court has granted relief to a taxpayer whose authorised representative was hospitalised and unable to respond to income tax notices. The writ petition challenged an impugned...

Teacher receives Income Tax Notice after Bank Manager Misused Account: Madras HC directs Dept to Hear Matter [Read Order]

The Madras High Court has directed the Income Tax department to grant the petitioner a fresh opportunity of hearing to respond to allegations of fraudulent transactions in which the bank account...

ITAT Quashes Assessment Order as Notice u/s 143(2) Sent to Wrong Address [Read Order]

The Income Tax Appellate Tribunal (ITAT) Pune Bench has quashed the assessment order passed against the assessee on the ground that the notice under Section 143(2) of the Income Tax Act, 1961 was...

ITAT Sets Aside CIT(A) Order for Violating Rule 46A(3) in Admitting Fresh Evidence without AO’s Examination [Read Order]

In a recent decision, the Pune bench of the Income Tax Appellate Tribunal held that when fresh evidence is admitted at the appellate stage, the Assessing Officer must be given an opportunity to...

ITAT Sustains Additions u/s 68, Denies Deduction for LIC Premium and Tuition Fees; Dismisses Assessee’s Appeal [Read Order]

The Income Tax Appellate Tribunal (ITAT) Hyderabad Bench upheld the additions made under Section 68 of the Income Tax Act, 1961, treating unexplained cash credits as taxable income. The tribunal also...