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Income Tax Penalty u/s 271(1)(b) for Multiple Defaults Reduced to One: ITAT Limits Levy to Rs. 10,000 [Read Order]

Sneha Sukumaran Mullakkal

The Rajkot Bench of Income Tax Appellate Tribunal ( ITAT ) partly allowed an appeal and held that the penalty under section 271(1)(b) of Income Tax...

Reassessment Invalid without Fresh Notice when No Addition made on Reopened Issue: ITAT [Read Order]

ITAT upholds Reassessment Proceedings initiated on information of Investigation Wings with respect...

Pending Assessment get Abated u/S 153 A of Income Tax Act, after Conducting Search and obtaining...

ITAT quashes Reassessment Proceeding initiated u/s 147 of Income Tax Act on basis of vague Report of...

Special Auditor rightly follows SA-505 Prescribed by ICAI and such Report cannot be merely rejected by AO if it is Contrary to Appraisal Report Submitted by Investigation Wing: ITAT [Read Order]

The Chennai bench of Income Tax Appellate Tribunal (ITAT) observed that the special auditor highly followed the procedures prescribed by the Institute of Chartered Accountants of India while auditing...

ITAT Quashes Reassessment Proceedings Initiated Solely Based on Vague Information from Investigation Wing [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has quashed the reassessment proceedings initiated solely based on the vague information received from the investigation wing. The assesse,...

Re-Assessment based on Information from Investigation Wing of Income Tax Department is Valid: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) observed that re-assessment based on information from Investigation Wing of Income Tax Department is valid. The assessee in the present...

Exception to CBDT Circular specifying Monetary Limit for filing Appeal not Applicable to Cases relating to Information received from Investigation Wing of Dept: ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that exception to the Central Board of Direct Taxes (CBDT) circular specifying monetary limit for filing appeals not applicable to...

Gujarat HC allows re-opening of assessment as there was enough material before AO [Read Judgment]

The Gujarat High Court allowed the reopening of assessment as there was enough material before AO and the assessment was not solely based on the information received from the investigation wing. ...

Assessment based on Information from the Investigation Wing of Income Tax is Valid: ITAT [Read Order]

The New Delhi bench of ITAT in DCIT versus M/s. Erawat Infotech Pvt. Ltd ruled that assessment based on the information from the investigation wing of the income tax is valid. In instant case as per...

Information Received from Investigation Wing of IT Dept is not a ‘Tangible Material’ for the purpose of Re-Assessment: Delhi HC

In Pr.CIT v. RMG POLYVINYL (I) LTD, a division bench of the Delhi High Court recently held that the information received from the Investigation Wing of Income Tax Department cannot be treated as a...