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Section 148 of the Act

Failure to Afford Opportunity to Furnish Documents Violates Natural Justice: Calcutta HC sets aside Order u/s 148A(3) of IT Act Against Co-operative Bank [Read Order]

The Calcutta High Court has quashed and set aside an order passed under section 148A(3) of the Income Tax Act of 1961, as the Assessing Officer (AO)...

Reopening Assessment Twice on Same Issue Unconstitutional, Hits Articles 14 & 300A: Delhi HC in NDTv...

Asset Holding Pattern Decides Taxability of Land Sale Profit as Capital Gain or Business Income:...

Assessments and Time Limits under Income Tax Act [New v/s Old Tax Act Series]

Breach of Mandatory Time Limits of Seven Days u/s 148A(b) and Three Months u/s 148 Invalidates...

Reassessment beyond Three Years Invalid as Escaped Income Below ₹50 Lakh Threshold: ITAT quashes Order [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) quashed a reassessment order and ruled that proceedings initiated beyond the three year limitation period are invalid if the income...

Annual Income Tax Case Digest: ITAT Decisions 2025 [Part XII]

A Round-Up of all the ITAT Decisions in 2025This annual round-up analytically summarizes the key Direct Tax-Income Tax rulings of the Income Tax Appellate Tribunal (ITAT) reported on Taxscan.in in ...

Provision for Future Expenses Allowable under Matching Principle: ITAT Quashes Reassessment due to Lack of New Material [Read Order]

The Jaipur Bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the reassessment initiated under Section 147/148 and deleted the disallowance of provision for future expenses, holding that...

Consultant Failed Him’: ITAT remands ₹18.5L Income Tax Addition on Differently Abled Taxpayer, Condones 600+ days Delay [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Ahmedabad bench, has remanded a matter of a ₹18.55 lakh income tax addition made against a 60% differently-abled taxpayer, after finding that the assessee...

Taxpayer Yet to Prove Source of Deposit from Property Sale to Father: ITAT Remands Cash Deposit Matter for Verification [Read Order]

The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has remanded the to the file of the Assessing Officer (AO) for fresh adjudication in the case involving addition of ₹42,20,000 made ...

Is Excessive Share Premium a Capital Receipt or Income? Supreme Court to determine Taxability of ₹679 Cr [Read Order]

The Supreme Court of India recently admitted an appeal filed by the Income Tax Department, challenging a Bombay High Court ruling that held excessive share premium receipts were ‘capital’ in...

Partial Relief for IIECL: ITAT Holds Only Profit Margin Taxable, Restricts Addition on ₹92.20 Lakh Bogus Purchases to 5% [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) held that only the profit margin was taxable and restricted the addition on ₹92.20 lakh bogus purchases to 5%, thereby granting...