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Issuance of notice u/s 148 of Income Tax Act for Reassessment shall not be made without Reasonable Belief: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Kolkata Bench held that the issue of notice under Section 148 of Income Tax Act, 1961 for reopening of...

Taxpayers must File Cross-objections within Time Limit: ITAT dismisses ICICI Bank's Cross-objection...

Assessee's 7 crores Loan from Shell Company Added to u/s 68 of Income Tax Act: Delhi HC sets aside...

ITAT quashes Reassessment in respect of Accommodation Entry without provide proper approval u/s 151...

AO rightly takes Approval from PCIT for Reassessment not Elapsed more than 3 years: Calcutta HC...

ITAT quashes Reassessment Order passed without issuing Valid Notice u/s 148 of Income Tax Act [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has quashed reassessment order passed without issuing notice under Section 148 of Income Tax Act, 1961. The assessee Raghuraj...

Reassessment Notice Issued to a Non-Existing Company Is Invalid: Karnataka HC [Read Order]

The Karnataka High Court in a recent judgement has held that the reassessment notice issued under Income Tax Act, 1961 against a non-existing company is invalid. Coffee Day Resorts...

ITAT quashes Reassessment based on vague and Innocuous Information regarding Accommodation Entry provided to Entry Operators

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has quashed the reopening of the assessment based on vague and innocuous information regarding accommodation entry provided to...

Chennai Corporation Fails to Issue Notice before Reassessment u/s 137B of Municipal Corporation Act: Madras HC sets aside Order to Remit Property Tax Arrears [Read Order]

The Madras High Court has set aside the order of the Commissioner of the Greater Chennai Corporation to remit the property tax arrears. The bench of Justice Dr. Anita Sumath observed that...

Issuance of Notice u/s 148 of Income Tax Act for Reassessment against Deceased Person is invalid: ITAT quashes Order [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) quashed the order passed by the assessing officer against a deceased person by issuing notice under section 148 of the Income Tax Act,1961...

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

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

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

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) held that the Re-assessment under Section 147 of the Income Tax Act, 1961 cannot be made based on a change of opinion by the assessing...

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