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Reopening u/s 147 Must Be Based on Specific and Clear Grounds, Not Borrowed Satisfaction: ITAT Quashes ₹68L Addition [Read Order]

Nandan GK

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the reason for reopening under section 147 of the Income Tax Act, 1961,...

ITAT Weekly Round-Up [April 1st-26th]

AO Provided Only 6 Days to Reply to Notice Instead of Mandatory 7 u/s 148A(b): ITAT Quashes...

Cash Deposits Were Duly Recorded in NBFC’s Books: ITAT Deletes Rs. 14.84 Lakh Addition [Read Order]

Bombay HC sets aside Income Tax Reassessment Order in Citing Violation of mandatory unamended...

ITAT Confirms ₹4.10 Cr Addition U/s 69, Upholds Courts’ Authority to Dismiss Defaulted Cases [Read Order]

In a recent judgment, the Income Tax Appellate Tribunal (ITAT) of Surat upheld the addition made by the Assessing Officer (AO) under section 69 of the Income Tax Act, 1961, as the assessee failed to...

Await Outcome of Statutory Appeal Before Approaching Writ Court: Madras HC dismisses Writ Petition against Income Tax Proceedings [Read Order]

In a recent ruling, the Madras High Court dismissed the writ petition against income tax proceeding directing the petitioner to wait for the outcome of the statutory appeal filed before approaching...

Income Tax, GST Depts Join Forces: Reopening Old I-T Assessments Over GST Invoice Mismatches and Fake ITC Claims

The Income Tax Department has started looking into old tax assessment cases again to catch people and companies who tried to evade taxes by showing fake or inflated business expenses. This is...

Assessment Proceedings u/s 151A and SCN Passed without Jurisdiction: ITAT quashes NFAC’s orders [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) quashed the orders passed by the National Faceless Assessment Centre’s orders as the latter observed that the assessment proceedings...

ITAT aside addition of Rs. 26,18,834 & accepts assessee’s Joint Agricultural Income Claim [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has set aside an addition of Rs. 26,18,834 made by the assessing officer (AO) noting that agricultural income was jointly earned by...

Assessment based on Third-Party Evidence cannot be Confirmed If Evidence not Provided to Searched Person: ITAT [Read Order]

The Cochin Bench of the Income Tax Appellate Tribunal (ITAT) recently granted relief to an Assessee, holding that an assessment based on third-party evidence cannot be sustained if such evidence is...

Mining without Environmental Clearance Not Illegal, Income Tax Dept cannot Disallow Expenses without Proof u/s 37(1): Orissa HC [Read Order]

In a recent ruling, the Orissa High Court held that mining without environmental clearance does not automatically constitute illegal mining for taxation purposes and ruled that the Income Tax...

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