![Reassessment under Income Tax must be on Concrete Evidence and not Speculation: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Delhi-HC-Delhi-High-Court-Income-Tax-Section-148-of-the-Income-Tax-Act-Concrete-Evidence-taxscan.jpg "Reassessment under Income Tax must be on Concrete Evidence and not Speculation: Delhi HC [Read Order]")
Reassessment under Income Tax must be on Concrete Evidence and not Speculation: Delhi HC [Read Order]
In a recent judgment, the Delhi High Court struck down reassessment proceedings under Section 148 of the Income Tax Act, 1961 stating that there were...
![Validity of Reopening u/s 148 for Verification Purposes: ITAT quashes Reopening as Legally Invalid [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITATDelhi-section-148-of-Income-Tax-Act-Income-Tax-ITAT-Quashes-Reopening-Income-Tax-Appellate-Tribunal-taxscan.jpg "Validity of Reopening u/s 148 for Verification Purposes: ITAT quashes Reopening as Legally Invalid [Read Order]")
![ITAT Sets Aside Ex-Parte Order, Remands Case for Reassessment Due to Non-Compliance and Lack of Proper Opportunity for Hearing [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Remands-Case-for-Reassessment-Non-Compliance-and-Lack-of-Proper-Opportunity-Opportunity-for-Hearing-National-Faceless-Appeal-Centre-Assessing-Officer-Income-Tax-Appellate-Tribunal-Taxscan.jpg "ITAT Sets Aside Ex-Parte Order, Remands Case for Reassessment Due to Non-Compliance and Lack of Proper Opportunity for Hearing [Read Order]")
![Ex Parte Assessment Order u/s 144 Passed by upholding Addition of unexplained Investment: ITAT Restores matter Considering Old Age of Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-New-Delhi-Income-Tax-Income-Tax-News-section-144-Taxscan.jpg "Ex Parte Assessment Order u/s 144 Passed by upholding Addition of unexplained Investment: ITAT Restores matter Considering Old Age of Assessee [Read Order]")
![No Material Relating to Assessee Found during Search: ITAT upholds Reassessment u/s 147 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Section-147-of-Income-Tax-Act-taxscan.jpg "No Material Relating to Assessee Found during Search: ITAT upholds Reassessment u/s 147 [Read Order]")
ITAT Relies on Jet Airways Judgment: Quashes ₹3.98 Crore Addition for Lack of Original Grounds [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the appeal of the assessee, relying on the landmark judgment of Bombay High Court in the case of  CIT vs. Jet Airways (I) Ltd., and...
![ITAT Relies on Jet Airways Judgment: Quashes ₹3.98 Crore Addition for Lack of Original Grounds [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-Jet-Airways-Judgment-taxscan.jpg "ITAT Relies on Jet Airways Judgment: Quashes ₹3.98 Crore Addition for Lack of Original Grounds [Read Order]")
ITAT invalidates PCIT's S.263 Revision Order Issued in Deceased Taxpayer's Name Due to Procedural Lapses [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) invalidated the Principal Commissioner of Income Tax ( PCIT )'s Section 263 revision order issued in the name of a deceased taxpayer,...
![ITAT invalidates PCITs S.263 Revision Order Issued in Deceased Taxpayers Name Due to Procedural Lapses [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-ITAT-Invalidates-PCITs-Principal-Commissioner-of-Income-Tax-Income-Tax-Appellate-Tribunal-taxscan.jpg "ITAT invalidates PCITs S.263 Revision Order Issued in Deceased Taxpayers Name Due to Procedural Lapses [Read Order]")
ITAT Upholds CIT(A) Decision Deleting Addition for Alleged Bogus Purchases, Citing Genuine Sales and Statement Retraction [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner of Income Tax(Appeals)[CIT(A)]'s decision deleting the addition for alleged bogus diamond purchases, citing...
![ITAT Upholds CIT(A) Decision Deleting Addition for Alleged Bogus Purchases, Citing Genuine Sales and Statement Retraction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Ahmedabad-income-tax-Bogus-Purchases-Citing-Genuine-Sales-Taxscan.jpg "ITAT Upholds CIT(A) Decision Deleting Addition for Alleged Bogus Purchases, Citing Genuine Sales and Statement Retraction [Read Order]")
Reassessment Based on Insight Portal Information must be u/s 147/148, Not Section 153C: Delhi HC [Read Order]
In a recent ruling, the Delhi High Court ruled that reassessment was initiated based on insight portal information so it must be under Section 147 or 148 of the Income Tax Act, 1961 not under...
![Reassessment Based on Insight Portal Information must be u/s 147/148, Not Section 153C: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Delhi-HC-Delhi-High-Court-Reassessment-Based-on-Insight-Portal-Reassessment-Insight-Portal-Information-taxscan.jpg "Reassessment Based on Insight Portal Information must be u/s 147/148, Not Section 153C: Delhi HC [Read Order]")
Treatment of Interest on Noida Land Acquisition Compensation under Dispute: ITAT directs AO to Consider Matter Afresh [Read Order]
In a recent ruling, the Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the income tax matter as the source of creation of fixed deposits ( FD ) needed verification of land...
![Treatment of Interest on Noida Land Acquisition Compensation under Dispute: ITAT directs AO to Consider Matter Afresh [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Delhi-Income-Tax-Interest-on-Compensation-taxscan.jpg "Treatment of Interest on Noida Land Acquisition Compensation under Dispute: ITAT directs AO to Consider Matter Afresh [Read Order]")
Section 147 and 153C of Income Tax can be Applied Interchangeably: ITAT upholds Reassessment u/s 147 in Bogus Purchase Matter [Read Order]
In a recent ruling, the Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that reassessment under section 147 of the Income Tax Act was valid on reopening already closed assessment. The...
![Section 147 and 153C of Income Tax can be Applied Interchangeably: ITAT upholds Reassessment u/s 147 in Bogus Purchase Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Section-147-153C-of-Income-Tax-Applied-Interchangeably-ITAT-Reassessment-Bogus-Purchase-Matter-taxscan.jpg "Section 147 and 153C of Income Tax can be Applied Interchangeably: ITAT upholds Reassessment u/s 147 in Bogus Purchase Matter [Read Order]")
ITAT sets aside CIT(A) Order in Unexplained Income Case Involving Suspicious Mother-Son Transaction [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) has set aside the order of the Commissioner of Income Tax -Appeals [CIT-A] and remanded the case back to the CIT for fresh adjudication,...
![ITAT sets aside CIT(A) Order in Unexplained Income Case Involving Suspicious Mother-Son Transaction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Income-Tax-unexplained-income-case-Income-Tax-Appellate-Tribunal-TAXSCAN.jpg "ITAT sets aside CIT(A) Order in Unexplained Income Case Involving Suspicious Mother-Son Transaction [Read Order]")