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Reassessment Based Solely on Audit Objection Constitutes Mere Change of Opinion: ITAT Quashes Reopening in Income Tax Case [Read Order]

Advika Dwivedi

The Bench of the Income Tax Appellate Tribunal, Delhi , has ruled that reassessment initiated merely on the basis of an audit objection without any...

Non-Prosecution not Grounds to Dismiss Income Tax Appeal: ITAT Quashes Ex-Parte CIT(A) Order [Read...

Bogus Loan Entry: ITAT upholds Reopening under Revised Section 147 [Read Order]

Reassessment on Demonetization Cash Deposits already Examined in Original Assessment Held Void ab...

₹4.81L Housing Loan Repayment Treated as Unexplained u/s 69C: ITAT Remands Matter to AO for...

Fresh Probe Data Warrants Reassessment but Unjustified 5% Income Addition Fails Scrutiny: ITAT [Read Order]

The Raipur bench of the Income Tax Appellate Tribunal, held that the reopening of assessments for three consecutive years was legally sustainable, based on fresh information from the Investigation...

Time-Barred Income Tax Notice u/s 148 over Investment Scheme: ITAT quashes Reassessment [Read Order ]

The bench of the Income Tax Appellate Tribunal, Mumbai, has held that the reassessment notice issued under Section 148 of the Income Tax Act, 1961 beyond the permissible period of limitation was...

Reassessment Beyond Six-Year Limit for Income Under ₹50 Lakh: ITAT Quashes Notice and Reassessment Order [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT) quashed the notice and reassessment order, holding that the reassessment beyond six-year limit for income under ₹50 lakh was invalid. ...

2% CST on Interstate Electronic Sales With No Surcharge Valid: Allahabad HC Quashes Reassessment Based on Invalid Circular [Read Order]

In a recent ruling, the Allahabad High Court held that interstate sales of electronic goods were taxable at 2% CST without any surcharge, and that reassessment proceedings initiated based on a...

Revenue Can Tax Only if Case Falls Within Four Corners of Statute, Not on Legislative Intent or Substance: Supreme Court [Read Order]

In a recent ruling, the Supreme Court has held that the Revenue authorities cannot impose tax on the basis of legislative intent, substance, or analogy, unless the case strictly falls within the...

Chartered Accountant’s Error in Form 3CB confirms Addition of IGST Claim of ₹37.92 Lakh: ITAT remands Matter [Read Order]

The Income Tax Appellate Tribunal (ITAT), Jodhpur bench, dealt with the disallowance of an Input GST claim of ₹37.92 lakh that arose due to an erroneous entry made by the assessee’s Chartered...

Reassessment based on Incorrect Facts not Valid: ITAT Quashes Notice u/s 148 [Read Order]

The Chandigarh Bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the reassessment notice issued under Section 148 of the Income Tax Act, 1961, and deleting an addition of Rs. 16,15,47,810...