Read all Latest Updates on and about Section 143(2) of the Income Tax Act

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Assessment of Bread Manufacturer's Capital Withdrawals and Receivables Not Erroneous: ITAT Quashes PCIT's Revision Order [Read Order]

Franklin Joshva

Umesh Garg (assessee), the proprietor of M/s A.R. Foods, engaged in manufacturing breads and rusks, faced scrutiny for Assessment Year (AY) 2011-12....

Reopening of Assessment Without Complying with S. 143(2) Procedure Is Bad in Law: Madras HC [Read...

Bombay HC quashes Income Tax Notice Issued u/s 148 which was beyond the time period specified under...

Limitation Period Expired: Delhi HC Quashes Income Tax Reassessment Proceedings [Read Order]

No Clear Finding on Merits: ITAT Directs CIT(A) to Decide the Matter Afresh [Read Order]

Delhi HC Upholds RPM for Distributor Reselling Unmodified Goods without Value Addition [Read Order]

The Delhi High Court Bench upheld the use of the Resale Price Method (RPM) for benchmarking international transactions in a case involving a distributor reselling unmodified solar products without...

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...

CIT(A) deletes additions on Unsecured Loans after considering additional evidence: ITAT set asides order for violation of Rule 46A [Read Order]

The Raipur Bench of the Income Tax Appellate Tribunal (ITAT) has set aside the order of the Commissioner of Income Tax (Appeals) [CIT(A)], citing a violation of Rule 46A of the Income Tax Rules,...

Disallowance of Rs. 2.97 Crore as Bogus Expenditure u/s 69C: ITAT Upholds 10% Disallowance [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) upheld a 10% disallowance of Rs. 29.71 lakh out of Rs. 2.97 crore claimed as bogus expenditure under section 69C of Income Tax Act,1961,...

₹5.98 Lakh Addition due to Clerical Error in Depreciation: ITAT sets aside for Re-examination [Read Order]

The Raipur Bench of Income Tax Appellate Tribunal (ITAT) set aside the addition of ₹5.98 lakh made due to a clerical error in depreciation for re-examination. Panchsheel Solvent Pvt....

₹278.67 Crore Addition on Ex-Andhra CM Y.S. Jagan Mohan Reddy Scrapped by ITAT Over Insufficient Evidence [Read Order]

The Hyderabad bench of the Income Tax Appellate Tribunal ( ITAT ) has struck down an addition of ₹278.67 crores imposed on former Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy. The tribunal...

ITAT Directs TPO to Reassess Intra-Group Service Payments and Arm's Length Pricing due to Insufficient Evidence [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) directed the Transfer Pricing Officer ( TPO ) to reassess the intra-group service payments and determine the arm's length price ( ALP )...