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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,...

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

Reassessment Beyond Six-Year Limit for Income Under ₹50 Lakh: ITAT Quashes Notice and Reassessment...

2% CST on Interstate Electronic Sales With No Surcharge Valid: Allahabad HC Quashes Reassessment...

Revenue Can Tax Only if Case Falls Within Four Corners of Statute, Not on Legislative Intent or...

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...

Union of India vs. Rajeev Bansal: Supreme Court on Reassessment Limits and TOLA Extensions

In the world of tax litigation, some cases quietly resolve at the assessment desk itself, while others travel through layers of appeals before fading into the archives. But once in a while, a...

Identity Misuse in Bank Account: ITAT Sets Aside Addition and Directs AO to Conduct Fresh Probe [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) set aside the addition of ₹15,97,500 made as unexplained cash deposits and directed the Assessing Officer (AO) to conduct a fresh probe...

Reassessment Invalid Due to Lack of New Tangible Material and Credible Information: ITAT Quashes ₹33.81 Lakh Addition [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the reassessment under Section 147 of the Income TaxAct, 1961, was invalid due to the lack of new tangible material and credible...

ITAT Holds Reassessment Void Ab Initio as Notice Issued Beyond Three-Year Limit for Income Below ₹50 Lakh [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) held the reassessment proceedings void ab initio as the notice under Section 148 of Income Tax Act,1961,was issued beyond the three-year...

Calcutta HC Dismisses Challenge to Section 148A(b) Reassessment Notice, Directs Taxpayer to Pursue Statutory Appeal [Read Order]

In a recent ruling, the Calcutta High Court dismissed an appeal filed by a taxpayer challenging the validity of a reassessment notice issued under Section 148A(b) of the Income Tax Act, 1961. ...

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