Read all Latest Updates on and about Section 147 of the Income Tax Act

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ITAT restricts Addition on “Peak Purchase” to Differential Margin Between Declared and Benchmark Profit in Rice Trading Case [Read Order]

Advika Dwivedi

The bench of the Income Tax Appellate Tribunal (ITAT), Raipur, has restricted the addition to the differential margin between the Gross Profit (GP)...

Non-Filer Gets a Second Chance as ITAT Sets Aside Tax Demand, Asks AO to Reconsider Unexplained Cash...

Karnataka HC quashes Income Tax Reassessment Notices Issued by Jurisdictional Officers Physically,...

Neither Taxpayer's Nor DVO's Valuation Acceptable Due to Inadequacy and Locational Differences: ITAT...

AO Treats ₹36.8L from Share Sale as Bogus as Exemption u/s 10(38) : ITAT Upholds CIT(A)’s Deletion,...

Name of Assessee not Mentioned in Seized Documents: ITAT deletes Income Tax Additions [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Mumbai Bench has set aside a series of additions made against assessee Mahesh Narayan Joglekar for Assessment Years (AYs) 2011-12 to 2018-19, ruling that...

Legal Representative Updation on Death of Assessee on Income Tax Portal is Sufficient Intimation of Death: ITAT Rules Section 147 Proceedings Void Ab Initio [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench, has held that once the death of an assessee and the particulars of the legal representative are duly updated on the Income Tax e-filing...

Challenge on Income Tax Demand Based on assessment u/s 147 Not Maintainable before HC: Orissa HC dismisses Writ Petition [Read Order]

In a recent case, the Orissa High Court dismissed the writ petition, holding that a challenge to an income tax demand based on an assessment under section 147 of the Income Tax Act, 1961 is not ...

Email Notice Sent to ID Not Cited in Form 35: ITAT Remits Matter Noting Sufficient Cause for Non-Compliance [Read Order]

The Raipur Bench of the Income Tax Appellate Tribunal ( ITAT ) remitted the matter to the Commissioner of Income Tax (Appeals) [ CIT(A) ] ruling that notices were sent to an incorrect email ID...

Bogus Purchase Addition Restricted to 12.5% Gross Profit: ITAT Upholds CIT(A)’s Order, Citing Judicial Precedent [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)] order restricting bogus purchase addition to 12.5% of gross profit and dismissed...

S. 148A Notice Must Be Issued Before S. 147 Order: Jharkhand HC Quashes Order, Finds Lapse by Income Tax Dept [Read Order]

The Jharkhand High Court has quashed an order passed under Section 147of the Income Tax Act, 1961, after the Income Tax Department Counsel admitted failure to issue the mandatory notice under Section...

SCN issued under Income Tax Act due to Failure on part of Accountant: Calcutta HC Dismisses Challenge Against order passed u/s 144 B on availability of Statutory Remedy [Read Order]

The Calcutta High Court dismissed the challenge against the order passed under section 144 B of the Income Tax Act, 1961, on the availability of statutory remedy. The bench found that the show cause...