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

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Assessing Officer’s ‘Change of Mind’ Not Valid Ground for Reopening Assessment : Madras HC [Read Order]

Navasree A.M

The Madras High Court has held that a mere ‘change of mind’ by the Assessing Officer (AO) cannot justify the reopening of a completed income tax...

ITAT sets aside Income Tax Penalty on Fruit Dealer for Misreporting, Directs CIT(A) to Reconsider...

Proper compliance on part of Assessee during Assessment Stage: ITAT Remands Case for Denovo...

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]

In a recent ruling, the Delhi High Court held that the reassessment of income under Section 147 of the Income Tax Act, 1961, was valid despite challenges to jurisdiction and restored the case to ITAT...

No Reply to CIT(A) Notices due to Ongoing Litigation with SBI: ITAT Remits Income Tax Appeal for Reconsideration [Read Order]

In a recent case before Income Tax Appellate Tribunal ( ITAT ), Bangalore the ex-parte order passed by Commissioner of Income Tax (Appeals) (CIT(A) ) due to lack of response to the notices of CIT(A)...

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...