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

Begin typing your search above and press return to search.

Home
»
Section 147 of the...

Reassessment not sustainable when Reasons for Initiation of Proceedings Ceased to Survive: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Jaipur Bench ruled that the reassessment under section 147 of the Income Tax Act was not sustainable when...

Unabsorbed Depreciation eligible for set off against Income even after lapse of eight years: Madras...

ITAT quashes Assessment since Reasons recorded were wrong, non-existing and incorrect facts [Read...

ITAT quashes levy of Penalty by AO for not Auditing Books of Accounts/ furnishing Report of Audit of...

Interest from Fixed Deposit taxable as ‘Other Income’: ITAT [Read Order]

GPA Holder not liable for Income Tax on Sale of Property: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) held that the sale of the property by the Vendee cum Agreement of General Power of Attorney (AGPA) holder cannot be considered as “sale” for the purpose of...

Re-Assessment Notice should contain a 'Reason to believe' with supporting Evidence: Delhi HC [Read Judgment]

The Delhi High Court held that assessing officer can initiate the notice for re-assessment with the reasons to believe and with reference to any fresh tangible material. The writ petitions under...

Income From Cloud Hosting Services not Taxable under the head ‘Royalty', rules ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that, Income From Cloud Hosting Services not Taxable under the head ‘Royalty'. Rackspace, US Inc., the assessee, is a company incorporated in...

Re-Assessment without Approval of Designated Authority is without Jurisdiction: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that an assessment cannot be re-opened without the approval of the designated authority under the Income Tax Act, 1961. The...

Inaccuracy or Mistake in Notice would make Assessment Invalid: Delhi HC [Read Judgment]

A two-judge bench of the Delhi High Court has held that the inaccuracy or mistake in a notice issued under section 147 of the Income Tax Act would make the same legally not valid. In the instant...

Re-Opening of Assessment without Application of Mind is Invalid: ITAT [Read Order]

The Agra Bench of the Income Tax Appellate Tribunal ( ITAT ) in the case of M/s Deepraj Hospital (P.) Ltd. v. ITO held that the proceedings initiated under Section 147 of the Income Tax Act and the...

Handing Over of Possession under Development Agreement would amount to ‘Transfer’ for attracting Capital Gain Tax: ITAT [Read Order]

The Hyderabad bench of ITAT confirmed that handing over of possession under development agreement would amount to ‘Transfer’ for attracting capital gain tax. A single judge bench of Accountant member...

Prev Page Next Page