Read all Latest Updates on and about Section 147 of the Income Tax Act 1961

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Proper compliance on part of Assessee during Assessment Stage: ITAT Remands Case for Denovo Adjudication [Read Order]

Saagarika Gopinath

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) remanded the case of fresh adjudication after noting the assessee’s compliance. In...

Reopening of Assessment for unexplained Investment in Property: ITAT upholds Reopening [Read Order]

₹3 Crores Gift from NRI Son to Mother Deemed Valid and Non-Taxable: ITAT Citing Donor's Sufficient...

Reassessment Valid Despite Jurisdictional Challenge: Delhi HC Restores ITAT Proceedings [Read Order]

No Reply to CIT(A) Notices due to Ongoing Litigation with SBI: ITAT Remits Income Tax Appeal for...

Assessment u/s 147 of Income Tax Act cannot be made without a Substantive Assessment: ITAT [Read Order]

The Cuttack Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that assessment under Section 147 of the Income Tax Act,1961 cannot be made without a substantive assessment. Birat Chandra...

Search Assessment shall be Computed u/s 153 of Income Tax, not u/s 147: ITAT quashes Assessment order [Read Order]

In a recent ruling, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) quashed the assessment order, clarifying that the both the Assessing Officer and Commissioner of Income Tax (Appeals)...

Failure to opportunity for personal hearing is violation of principle of natural justice: Kerala HC sets aside assessment order [Read Order]

The Kerala High Court has set aside an assessment order, citing that the failure to provide an opportunity for a personal hearing constitutes a violation of the principle of natural justice. The...

Tax evasion by way of Colourable Devices and Sham Transaction to defraud Department: ITAT dismisses assessee appeal [Read Order]

The Income Tax Appellate Tribunal (ITAT) Panaji bench dismissed the appeal filed by the assessee and observed that the assessee has evaded tax by way of colourable devices and sham transactions to...

Sale of Share was Substantiated with Documentary Evidence, Addition of Capital Gain As Unexplained Income is not Valid: Bombay HC upholds Order of ITAT [Read Order]

The Bombay High Court held that capital gain as unexplained income is not valid when the sale of shares was substantiated with documentary evidence and upheld the order of the Income Tax Appellate...

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...

Re-Assessment without Formation of Belief of Escapement of Income based on Incorrect Facts is Invalid: ITAT [Read Order]

The Ahmedabad Income Tax Appellate Authority ( ITAT ) has recently held that re-assessment of returns without the formation of belief of escapement of income based on incorrect facts is invalid. ...