![Credit Entries in Saving Account Cannot be treated as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT quashes Reassessment Proceedings initiated based on Conjectures and Surmises [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Credit-Entries-in-Saving-Account-Unexplained-Cash-Credit-Income-Tax-Act-ITAT-Reassessment-Proceedings-Conjectures-and-Surmises-TAXSCAN.jpg "Credit Entries in Saving Account Cannot be treated as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT quashes Reassessment Proceedings initiated based on Conjectures and Surmises [Read Order]")
Credit Entries in Saving Account Cannot be treated as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT quashes Reassessment Proceedings initiated based on Conjectures and Surmises [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench held that credit entries in the savings account in a bank could not be treated as unexplained...
![Reassessment Proceedings u/s 153 A Income Tax Act cannot be Triggered in Absence of Incriminating Material: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Reassessment-Proceedings-Income-Tax-Act-Absence-of-Incriminating-Material-Delhi-HC-taxscan.jpg "Reassessment Proceedings u/s 153 A Income Tax Act cannot be Triggered in Absence of Incriminating Material: Delhi HC [Read Order]")
![Remission of Income Tax Refund of Rs 95.26 crores: Delhi HC suspends Reassessment Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Remission-Remission-of-Income-Tax-Refund-Refund-Income-Tax-Refund-Remission-of-Income-Tax-Refund-taxssan_300.jpg "Remission of Income Tax Refund of Rs 95.26 crores: Delhi HC suspends Reassessment Proceedings [Read Order]")
![Reassessment Proceedings Commenced after 3 years are Time-Barred: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Reassessment-Proceedings-Commenced-after-3-years-Reassessment-Proceedings-Time-Barred-Delhi-High-Court-taxscan.jpg "Reassessment Proceedings Commenced after 3 years are Time-Barred: Delhi HC [Read Order]")
ITAT Dismisses Income Tax Dept Appeal for Lack of Valid Approval in Reassessment Proceedings [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has dismissed an appeal filed by the Income Tax Department (ITD) against an order of the Commissioner of Income Tax (Appeals) (CIT(A))...
![ITAT Dismisses Income Tax Dept Appeal for Lack of Valid Approval in Reassessment Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Dismisses-Income-Tax-Dept-Appeal-ITAT-Income-Tax-Department-Appeal-Lack-of-Valid-Approval-in-Reassessment-Proceedings-Reassessment-Proceedings-Reassessment-Taxscan.jpg "ITAT Dismisses Income Tax Dept Appeal for Lack of Valid Approval in Reassessment Proceedings [Read Order]")
Misinformation regarding PAN number Provided to AO triggers Reassessment Proceedings: Delhi HC sets aside Reassessment Order [Read Order]
A Division Bench of Delhi High Court set aside the reassessment order passed under Section 148A(d) of the Income Tax Act, 1961 on grounds of misinformation regarding the Permanent Account Number...
![Misinformation regarding PAN number Provided to AO triggers Reassessment Proceedings: Delhi HC sets aside Reassessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/PAN-number-Misinformation-AO-triggers-Reassessment-Proceedings-AO-Reassessment-Proceedings-Delhi-HC-sets-aside-Reassessment-Order-Reassessment-Order-Delhi-High-Court-taxscan.jpg "Misinformation regarding PAN number Provided to AO triggers Reassessment Proceedings: Delhi HC sets aside Reassessment Order [Read Order]")
No Reassessment Proceedings shall Conducted on Completed/unabated Assessments if no Incriminating Material Found During Search: Supreme Court [Read Judgement]
The Supreme Court bench, consisting of Justice C.T. Ravikumar and Justice Manoj Misra, declared that if no evidence indicating wrongdoing is discovered during the search, reassessment proceedings...
Reassessment Proceedings Initiated on Recovery of Tax Share Premium of Rs 679.32 Crores without any Tangible Material to Prove Income Escapement: Bombay HC Quashes Reassessment Order
In a significant case, the Bombay High Court has quashed the reassessment proceedings initiated to recover the tax share premium of Rs. 679 crores without any reason on tangible material to prove...
Order Passed u/s 147 r.w.s 143(3) under Reassessment Proceedings Initiated before Search and Seizure is Void Ab Initio: ITAT [Read Order]
The Indore Bench of Income Tax Appellate Tribunal (ITAT) has held that the order passed under Section 147 read with Section 143(3) of the Income Tax Act 1961 under reassessment proceedings initiated...
![Order Passed u/s 147 r.w.s 143(3) under Reassessment Proceedings Initiated before Search and Seizure is Void Ab Initio: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Order-Reassessment-Proceedings-Reassessment-Proceedings-Initiated-before-Search-and-Seizure-is-Void-Ab-Initio-Search-and-Seizure-ITAT-Taxscan.jpg "Order Passed u/s 147 r.w.s 143(3) under Reassessment Proceedings Initiated before Search and Seizure is Void Ab Initio: ITAT [Read Order]")
Approval of Reassessment Order by JCIT without Recording Reasons: ITAT invalidates Income Tax Notice and Reassessment Proceedings [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) recently invalidated the Income Tax Notice under Section 148 and the reassessment proceedings due to non-compliance with Section 151 of...
![Approval of Reassessment Order by JCIT without Recording Reasons: ITAT invalidates Income Tax Notice and Reassessment Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Approval-of-Reassessment-Order-Reassessment-Order-JCIT-ITAT-invalidates-Income-Tax-Notice-ITAT-Income-Tax-Notice-Income-Tax-Notice-Reassessment-Proceedings-Taxscan.jpg "Approval of Reassessment Order by JCIT without Recording Reasons: ITAT invalidates Income Tax Notice and Reassessment Proceedings [Read Order]")
No failure to provide Material Facts: ITAT sets aside Reassessment Proceedings initiated after Expiry of 4 Years [Read Order]
The Mumbai Bench of Income Tax Appellate tribunal (ITAT) has set aside the reassessment proceedings initiated after the expiry of 4 years as there was no failure to provide material facts. The...
![No failure to provide Material Facts: ITAT sets aside Reassessment Proceedings initiated after Expiry of 4 Years [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/No-failure-to-provide-Material-Facts-Material-Facts-ITAT-sets-aside-Reassessment-Proceedings-Reassessment-Proceedings-ITAT-Income-Tax-Reassessment-taxscan.jpg "No failure to provide Material Facts: ITAT sets aside Reassessment Proceedings initiated after Expiry of 4 Years [Read Order]")