Read all Latest Updates on and about Section 142(1) of the Income Tax Act

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Section 142(1) of the...

Income Tax Notices Unanswered as Authorised Representative Hospitalised for Surgery: Madras HC grants Opportunity to File Reply [Read Order]

Navasree A.M

The Madras High Court has granted relief to a taxpayer whose authorised representative was hospitalised and unable to respond to income tax notices. ...

Teacher receives Income Tax Notice after Bank Manager Misused Account: Madras HC directs Dept to...

ITAT Quashes Assessment Order as Notice u/s 143(2) Sent to Wrong Address [Read Order]

ITAT Sets Aside CIT(A) Order for Violating Rule 46A(3) in Admitting Fresh Evidence without AO’s...

ITAT Sustains Additions u/s 68, Denies Deduction for LIC Premium and Tuition Fees; Dismisses...

Lack of proper inquiry on Unexplained Cash Deposits during Demonetization: ITAT restores matter [Read Order]

The Agra Bench of Income Tax Appellate Tribunal ( ITAT ) restored the matter back to the Commissioner of Income Tax ( Appeals ) [CIT(A)] due to the lack of proper inquiry regarding unexplained cash...

Taxability of Lease Premiums and Rent Collected for State Government: ITAT Rules Funds Not Taxable [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal(ITAT) ruled that the funds received from lease premiums and rent collected on behalf of the Government of Maharashtra are not taxable in the hands of...

ITAT Remands ₹44.9 Lakhs Unexplained Cash Deposits Case to AO: Deliberates on need for Natural Justice in Reassessments [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ), in the case of Anantrai Vithalbhai Parmer, remanded the case back to the assessing officer ( AO ) for fresh assessment for the...

Non-Furnishing of Approval u/s 151 to Assessee: Bombay HC quashes Income Tax Reassessment [Read Order]

The Bombay High Court recently halted Income Tax Reassessment Proceedings against a petitioner, observing that no copy of approval under Section 151 of the Income Tax Act, 1961 for reopening...

Rs.19 Lakh ‘Unexplained Money’ with Golgappa Vendor: ITAT Remands Income Tax matter Directing Opportunity for Personal Hearing [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chandigarh recently remanded an income tax matter while directing the provision of personal hearing opportunity to a golgappa vendor who landed in a soup,...

ITAT Remands Case to AO for Re-examination of Cash Deposits and Bank Entries due to Improper Assessment, Imposes Rs.20,000 Cost for Non-Compliance [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the case to the Assessing Officer ( AO ) for re-examination of cash deposits and bank entries due to improper assessment. A cost...

AO Overlaps Unexplained Income with Declared Turnover: ITAT deletes Incorrect Addition and Lowers Income Estimation Rate to 4% [Read Order]

The Visakhapatnam bench of the Income Tax Appellate Tribunal ( ITAT ) deleted an incorrect addition made by the assessing officer who mistakenly added declared turnover as unexplained income. The...