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Reassessment

Valid Reason Necessary for Invoking Income Tax Reassessment Proceedings: ITAT [Read Order]

Eeva Mary Sanil

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) ordered that a reassessment of an already closed assessment must be substantiated...

Failure to Prove Loan Credibility: ITAT Remands Case to AO for Fresh Adjudication [Read Order]

ITAT affirms deletion of ₹43,33,606 Addition for Non-Genuine Purchases, Citing Consistent GP Rate...

Reassessment Proceedings under Income Tax Act Can't Be Initiated Against Deceased Assessee: Kerala...

-olds Tribunals Decision - Profit Attribution - PE in India Due - Lack of New Evidence - taxscan

Delhi HC upholds Tribunal's decision on Profit Attribution to PE in India Due to Lack of New...

Mechanical Approval of Reassessment by PCIT: ITAT Quashes Income Tax Notice u/s 148 [Read Order]

Recently in a decision, the Income Tax Appellate Tribunal (ITAT) of Delhi quashed a reassessment notice issued under Section 148 of the Income Tax Act, 1961 (ITA) to the assessee/ appellant, Natraj...

Notices uploaded only on Income Tax Portal may not be Treated as Valid Service of Notice: ITAT quashes Reassessment Proceedings against Buddhist monk [Read Order]

The Chandigarh bench of Income Tax Appellate Tribunal ( ITAT ) quashed reassessment proceedings initiated against, ruling that the issuance of notices solely through the Income Tax portal may not...

CESTAT directs Reassessment of Valuation Enhanced solely on DGOV Circular [Read Order]

The Customs, Excise & Service Tax Appellate Tribunal ( CESTAT ) Ahmedabad Bench directed for the reassessment of the valuation which was enhanced solely on the basis of the Directorate General of...

Six-Day Period to Furnish Reply Instead of Seven as per Income Tax Act: Karnataka HC Quashes Reassessment Notice and Demand [Read Order]

The Karnataka High Court quashed a reassessment notice issued to Massood Gulam by the Income Tax Officer ( ITO ), due to non-compliance with the statutory requirement of providing a minimum of seven...

Income Reassessment Within Time-Limit Cannot Be Interfered If Income Escapes Assessment: Madras HC Dismisses Petition [Read Order]

In a recent ruling, the Madras High Court ruled that reopening assessment under Section 148 of the Income Tax Act, 1961 within the time limit cannot be interfered with if there was an escapement of...

Income Reassessment - Time-Limit - Income Escapes Assessment - Madras HC Dismisses Petition - TAXSCAN

No Re-Opening of Income Tax Assessment u/s 148 without New Materials: Delhi HC [Read Order]

The Delhi High Court recently ruled that an income tax assessment cannot be reopened under Section 148 of the Income Tax Act without new material evidence and quashed the reassessment proceedings...

CIT(A)'s Non-Speaking Order denies Assessee Fair Hearing: ITAT directs Reassessment [Read Order]

In a recent case, the Delhi bench of Income Tax Appellate Tribunal ( ITAT ) held that the non- speaking order passed by Commissioner of Income Tax (Appeals) [ CIT(A) ] denied the assessee a fair...

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