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ITAT Quashes Reassessment based on Vague Information received from Investigation Wing regarding Transactions in National Multi Commodity Exchange

Aparna. M

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently quashed reassessment based on vague information received from the investigation...

No Reassessment u/s 147 of IT Act can be made based on a change of opinion: ITAT [Read Order]

Delhi HC quashes Time-Barred Reassessment on Escaped Income below Threshold Monetary Limit [Read...

Addition of LTCG by invoking S. 50(c) of Income Tax Act without retrospective effect is invalid :...

Section 245C (1) Application under Income Tax Act, not Maintainable in Absence of Case for Relevant...

Notice u/s 148A(b) received on Date of Reassessment: Delhi HC directs Re Adjudication

The Delhi High Court directed re-adjudication since the notice under section 148A(b) of the Income Tax Act, 1961 was received on the date of reassessment. Premium Estates Private Limited, the...

No Addition during Reassessment once Genuineness of Transaction is Proven: ITAT [Read Order]

The Surat Bench of Income Tax Appellate Tribunal (ITAT) has held that addition would not sustain once the genuineness of transaction is proven. During the assessment proceedings the assessing...

Issuance of Notice and Initiation of Reassessment Beyond Six Years is Barred by limitation: Calcutta HC [Read Order]

In a recent case, the Calcutta High Court held that issuance of notice and initiation of reassessment beyond six years is barred by limitation. Coplama Products Private Limited, the petitioner has...

Issuance of Notice - Reassessment Beyond - limitation - Calcutta - HC - TAXSCAN

Bombay HC quashes Re Assessment Order passed on Change of Opinion as to Calculation of Tax Payable [Read Order]

In a recent decision the Bombay High Court quashed the re assessment order passed on change of opinion as to the calculation of tax payable. By the petition under Article 226 of the Constitution,...

Reassessment order passed u/s 147 of the Income Tax Act on Account of Mere Change of Opinion is not valid: ITAT

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the re-assessment order passed under Section 147 of the Income Tax Act, 1961 on account of mere change of...

Calcutta HC quashes Reassessment Order passed by AO without Approval from Competent Authority

In a recent decision, a Single Bench of Justice Md. Nizamuddin of Calcutta High Court invalidated the reassessment order made by the Assessing Officer (AO) in violation of Section 148 of the Income...

Reassessment Made After 4 years is not valid: Madras High Court [Read Order]

The Madras High Court held that a Reassessment made after 4 years for a mere change of opinion is not valid. The appellant/Revenue, challenged the order dated 12.10.2022 passed by the Income Tax...

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