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Income Tax Officer

AO's Erroneous Assumption of Land Cost as Part of Construction Cost: ITAT Remands LTCG Matter for fresh consideration [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT), Hyderabad Bench, remanded the matter back to the Assessing Officer (AO) after...

Changing Company Name & PAN Shifts Jurisdictional Income Tax Officer: Supreme Court sustains...

No Escapement of Income Where Tax Paid on Consolidated Profits: ITAT Quashes ₹16.06 Cr Double...

Income Tax Officer in ED Net: ₹31.7L Assets from Unexplained Cash Deposits Provisionally Attached...

Supreme Court bars Income Tax Dept from Coercive Steps While Examining Faceless vs Jurisdictional AO...

Assessment Framed Without Jurisdictional Notice u/s 143(2) Invalid: ITAT [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) held that the assessment framed by the Assessing Officer (AO) was invalid and a nullity because the jurisdictional notice under Section ...

Inside India’s Legendary Tax Raid that Inspired Ajay Devgn’s "Raid" Movie

Introduction On the morning of July 16, 1981, India witnessed one of the most significant income tax raids in its history. The target was none other than Sardar Inder Singh, a pioneering ...

Odisha Income Tax Officer Arrested for Allegedly Taking ₹25,000 Bribe from a Bakery Owner

Vigilance officers arrested a 55-year-old tax officer in Bhubaneswar, Odisha, on 27th August after she was allegedly caught taking a bribe of Rs. 25,000 from a bakery owner. According to The Times...

P&H HC grants bail to Income Tax Officer in ₹25 lakh Bribery Case, Clarifies Direct Bail Plea Maintainable in Exceptional Circumstances [Read Order]

In a recent ruling, the Punjab and Haryana High Court observed that a bail plea filed directly before the High Court can be entertained in exceptional circumstances, and granted regular bail to an ...

"NFAC Passed Perverse Order Stating Wrong Penalty Amount & Ignoring S.273B Safeguards": ITAT Deletes Penalty u/s 271(1)(b)

The Raipur Bench of the Income Tax Appellate Tribunal (ITAT) has set aside a penalty of Rs. 10,000 imposed under Section 271(1)(b) of the Income Tax Act, 1961, on the assessee for alleged...

ITAT Condones 66-day Delay in Filing Appeal due to COVID Lockdown and CA's Preoccupation [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT), condoned a 66-day delay in filing an appeal, noting the COVID-19 lockdown and the preoccupation of the assessee’s Chartered...

NRI’s Property Investment Explained with Bank Statements and Agreements: ITAT Quashes Addition Due to Jurisdictional Error

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has set aside an assessment order adding Rs. 69.99 lakh as unexplained investment under Section 69 of the Income Tax Act, 1961 as the...