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‘Change of Opinion’ cannot be alleged If AO found Fresh Tangible Materials to re-Open Assessment: Delhi HC [Read Order]

Taxscan Team

While dismissing a writ petition challenging a re-assessment under section 147/148 of the Income Tax Act, 1961, the Delhi High Court has held that...

Failure to keep Invoice for Agricultural Sale Proceed for Small Amount cannot attract Income Tax...

Income Tax leviable on Transfer of Marketing/Distribution Rights for Veterinary Products by Joint...

Non-Cooperation during Income Tax Assessment Proceedings: ITAT imposes Cost of Rs. 25,000 [Read...

Genuineness of Transaction needs to prove to invoke Tax Exemption under Income Tax: ITAT [Read...

Drawings made for Non-Business purposes are not allowable as Income Tax Deduction: ITAT [Read Order]

The Visakhapatnam bench of the Income Tax Appellate Tribunal (ITAT) has held that drawings made for non-business purposes are not allowable as a deduction under section 36(1)(iii) of the Income Tax...

Husband can claim Capital Gain Exemption for Investment made in the name of Wife: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Jaipur bench consisting of DR. S. Seethalakshmi, Judicial Member, and Rathod Kamlesh Jayantbhai, Accountant Member held that the husband can claim Capital...

Proclamation of Sale of Immovable Property drawn up after due Notice to Defaulter: Madras HC holds No irregularity in Auction conducted by Dept. for Recovery of Tax Arrears [Read Order]

The Madurai bench of Madras High Court in the issue of proclamation of sale of immovable property drawn up after due notice to defaulter has held that no irregularity in auction conducted by...

Income Tax Dept failed to give Minimum Time to Respond: Delhi HC quashes S. 148 Notice [Read Order]

In an assessee-favouring ruling, the Delhi High Court has quashed a notice under section 148A of the Income Tax Act, 1961 by observing that the department failed to provide a minimum of seven days to...

Income Tax Return not filed after receiving Re-Assessment Notice: ITAT upholds Penalty [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has upheld the penalty order by observing that the income tax return was not filed after receiving the re-assessment notice under section 148...

Fake Bank Account made Using ID Proof of Assessee: ITAT deletes Addition [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT), Delhi bench has deleted the addition based on the cash deposit made in a fake bank account created using the id proof of the assessee. ...

Attachment of Property under Tax Recovery provision can be exercised only after finalising the Ownership of the Land in Question: Gujarat HC sets aside Attachment Order [Read Order]

A division bench of the Gujarat High Court, while setting aside the land acquisition order held that attachment of property under the Tax Recovery provision can be exercised only after finalising the...

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