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Reassessment Cannot Survive Once Recorded Reasons Fail: Delhi HC [Read Order]

Advika Dwivedi

The bench of the Delhi High Court held that reassessment proceedings initiated under Section 147 of the Income Tax Act, 1961, cannot be sustained...

Homebuyer Claims S. 80C Deduction for Housing Loan Repayment, Wins Dept Challenge: Know How ITAT...

Non-Filing of Form 3CL Not Ground to Reopen Assessment u/s 147: Kerala HC Quashes ITAT Order Against...

ITAT restricts Addition on “Peak Purchase” to Differential Margin Between Declared and Benchmark...

Non-Filer Gets a Second Chance as ITAT Sets Aside Tax Demand, Asks AO to Reconsider Unexplained Cash...

Karnataka HC quashes Income Tax Reassessment Notices Issued by Jurisdictional Officers Physically, says Faceless Regime Mandatory [Read Order]

The Karnataka High Court has quashed multiple reassessment notices issued by jurisdictional Income Tax Officers, holding that such notices are without jurisdiction as the Faceless Reassessment...

Neither Taxpayer's Nor DVO's Valuation Acceptable Due to Inadequacy and Locational Differences: ITAT Restores Matter for Revised Valuation [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) restored the issue of long-term capital gains addition of ₹2,01,60,785 to the Assessing Officer (AO) for a revised valuation holding...

AO Treats ₹36.8L from Share Sale as Bogus as Exemption u/s 10(38) : ITAT Upholds CIT(A)’s Deletion, Rules Sale Genuine [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner of Income Tax(Appeals)[CIT(A)]’s deletion of an addition where the Assessing Officer (AO) had treated ₹36,85,075...

Name of Assessee not Mentioned in Seized Documents: ITAT deletes Income Tax Additions [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Mumbai Bench has set aside a series of additions made against assessee Mahesh Narayan Joglekar for Assessment Years (AYs) 2011-12 to 2018-19, ruling that...

Legal Representative Updation on Death of Assessee on Income Tax Portal is Sufficient Intimation of Death: ITAT Rules Section 147 Proceedings Void Ab Initio [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench, has held that once the death of an assessee and the particulars of the legal representative are duly updated on the Income Tax e-filing...

Challenge on Income Tax Demand Based on assessment u/s 147 Not Maintainable before HC: Orissa HC dismisses Writ Petition [Read Order]

In a recent case, the Orissa High Court dismissed the writ petition, holding that a challenge to an income tax demand based on an assessment under section 147 of the Income Tax Act, 1961 is not ...

Email Notice Sent to ID Not Cited in Form 35: ITAT Remits Matter Noting Sufficient Cause for Non-Compliance [Read Order]

The Raipur Bench of the Income Tax Appellate Tribunal ( ITAT ) remitted the matter to the Commissioner of Income Tax (Appeals) [ CIT(A) ] ruling that notices were sent to an incorrect email ID...