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Income Tax Assessment

Post-Finance Act, 2021 Search Assessments Must Follow S.148 Regime: ITAT Quashes Income Tax Assessment [Read Order]

The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) held that for searches conducted after 1 April 2021, assessments for the years...

Income Tax Reassessment Passed in Violation of Calcutta HC Stay: SC dismisses SLP refusing to...

AO Cannot Invoke S.147/148 to Reopen Income Tax Assessment Solely on Search Material Without S.153C...

Final Income Tax Assessment Passed beyond One Month from DRP directions Barred by Limitation: ITAT...

Draft Income Tax Assessment u/s 144C Issued Post-Amalgamation Invalid: Delhi HC Permits Fresh Action...

ITAT allows Assessee’s Plea of Farmhouse Construction from Funds Derived from Agricultural Activities, terms income “Undisclosed” [Read Order]

The Delhi Bench “A” of the Income Tax Appellate Tribunal (ITAT) has accepted the assessee’s claim that the construction of a farmhouse was funded through agricultural income and past savings, while...

Lack of Valid Approval under Section 153D: ITAT quashes Income Tax Assessment [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench has quashed an assessment order passed against assessee Paramasivam Mahalingam for the Assessment Year (AY) 2014-15, holding that the ...

AO cannot Issue Notice to Reopen Income Tax Assessment after 3 Years Without Pr. CCIT Approval: ITAT Quashes Notice against Saif Ali Khan [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai, has held that a reassessment notice issued under Section 148 of the Income Tax Act, 1961, without valid approval under Section 151, is void ab...

Income Tax Assessment framed in Name of Non-Existent Entity is Void Ab Initio: ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) held that an income tax assessment framed in the name of a non-existent entity is void ab initio. SoftwareONE India Pvt. Ltd, ...

Relief for Hyundai Motors: Madras HC Rules Reopening Income Tax Assessment on Same Issue After Prior Query and Reply Invalid [Read Order]

In a recent ruling, the Madras High Court held that reopening an income tax assessment on an issue that was already raised and answered during the original assessment amounts to a change of opinion,...

No Merit in Assessee’s Objection of Lack of Hearing Opportunity u/s 144A: ITAT Upholds Income Tax Assessment on Best Judgment by AO [Read Order]

ITAT upheld best judgment assessment under section 144 and rejected assessee’s claim of being denied opportunity under section 144A as without merit. The Delhi Bench of the Income Tax Appellate...

Assessing Officer’s ‘Change of Mind’ Not Valid Ground for Reopening Assessment : Madras HC [Read Order]

The Madras High Court has held that a mere ‘change of mind’ by the Assessing Officer (AO) cannot justify the reopening of a completed income tax assessment under Section 147 of the Income Tax Act,...