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

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Failure to file ITR bonafidely and witness no Loss to Revenue as Proper Tax was already Paid: ITAT deletes Penalty [Read Order]

The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) set aside penalty of Rs.5000 under Section 271F of the Income Tax Act, 1961 on grounds...

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

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

Non-filing of Income Tax Return (ITR): ITAT quashes Penalty u/s 271F against 82 year old Widow [Read...

Issuance of Notice u/s 147 of Income Tax Act without Jurisdiction: ITAT Quashes Re-Assessment [Read...

Gross Profit Rate of 5% against 0.69% Made on Addition of Bogus Purchase is too High: Bombay HC Remands Matter to ITAT [Read Order]

The Bombay High Court has held that the gross profit rate of 5% against 0.69% made on the addition of bogus purchases is too high and remanded the matter to Income Tax Appellate Tribunal (ITAT) to...

Appeal under Income Tax Act against Assessment Order Passed u/s 147 Pending Before CIT(A): Calcutta HC dismisses WP [Read Order]

The Calcutta High Court dismissed the Writ Petition since the appeal under the Income Tax Act, 1961 against the assessment order passed under section 147 of the Income Tax Act is pending before the...

Failure to Show Explanation on Cash Deposits Being Unaware of Notice Uploaded in e-Filing Portal on Counsel's e-mail ID: ITAT Directs Readjudication [Read Order]

The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) directed readjudication on the grounds of unawareness of notice uploaded in e-filing portal on Counsel’s e-mail ID and failure to show...

Defect in Issue of Notice: ITAT quashes Scrutiny Assessment Proceedings Initiated by ACIT [Read Order]

The Income Tax Appellate Tribunal (ITAT) of Kolkata Bench has quashed scrutiny assessment proceedings initiated by the Assistant Commissioner of Income Tax (ACIT) initiated due to a defect...

No Order shall be passed without affording Reasonable Opportunity of being heard to Assessee: ITAT set aside Order of CIT(A) [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that no order shall be passed without affording reasonable opportunity of being heard to the assessee and hence set aside the order...

Mere initiation of Penalty proceedings cannot be challenged unless formal order has been passed: ITAT dismisses Appeal [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that mere initiation of penalty proceedings cannot be challenged unless the formal order has been passed. The matter was called for...

ITAT sets aside Assessment Order passed without giving Opportunity to Assessee [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) set aside the assessment order passed violating the principles of natural justice. The Assessee, Satish has raised multiple grounds and...

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