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Income Tax Assessment

Income Tax Faceless Assessment Provision Violation: Madhya Pradesh HC halts passing Final Orders, Lists case on 1st July [Read Order]

Aiswarya Krishnadas

The Madhya Pradesh High Court has put a halt on the passing of final orders in a case concerning the violation of provisions related to Income Tax...

No Challenge to quash Income Tax Assessment Orders: Madras HC dismisses Petition Against Payment...

Madras HC dismisses WP against Revision Order, Stresses Distinction from Scrutiny Assessment Order...

Reopening of Income Tax Assessment on Change of Opinion Invalid when barred by Limitation: Bombay HC...

Non-cooperation with Income Tax Assessment Proceedings, Relevant Details and Records Not Produced:...

NFRA debars Burnpur Cements' CA for 5 Years for Audit Lapses, Imposes Fine of Rs. 5 Lakhs [Read Order]

The National Financial Reporting Authority (NFRA) has debarred the Chartered Accountant of Burnpur Cements from practicing for a period of 5 years from being appointed as an auditor or internal...

NFRA - Burnpur- Cements-CA - Audit-Lapses-Imposes -TAXSCAN

Notice u/s 143(2) of Income Tax Act is Condition Precedent for Framing of Income Tax Assessment: Madras HC [Read Order]

In a recent decision the Madras High Court ruled that the notice under Section 143(2) of Income Tax Act, 1961 is a condition precedent for framing of the income tax assessment. The petitioner,...

ITAT Weekly Round-Up

This weekly round-up analytically summarises the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan.in during the previous week from May 13th to 20th, 2023. ...

ITAT deletes Addition Due to Disallowance of Discounts/Subventions in the Income Tax Assessment u/s 40A

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) deletes the addition due to the disallowance of discounts or subventions in the Income Tax Assessment under Section 40 A of the...

Incriminating Statements by Third Parties Cannot Be Used for Addition in Income Tax Assessment: ITAT [Read Order]

The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) recently ruled that the incriminating statements by third parties cannot be used for addition in Income Tax assessment. The ...

Notice u/s 143(2) not issued by AO: ITAT quashes Income Tax Assessment Order [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has quashed the assessment order holding that notice under Section 143(2) of the Income Tax Act, 1961 was not issued by the assessing officer...

Income Tax Assessment u/s 153 A must be based on Incriminating Material: SC [Read Judgement]

The Supreme Court in its recent judgement has held that assessment under Section 153A of the Income Tax Act, 1961 must be based on ‘incriminating’ material. Abhisar Buildwell P. Ltd, the assessee...

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