![True and Full Disclosure regarding Valuation of Equity Shares: Bombay HC quashes Re-Assessment Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Valuation-of-Equity-Shares-Equity-Shares-Shares-Bombay-High-Court-Re-Assessment-Notice-Re-Assessment-Notice-taxscan.jpg "True and Full Disclosure regarding Valuation of Equity Shares: Bombay HC quashes Re-Assessment Notice [Read Order]")
True and Full Disclosure regarding Valuation of Equity Shares: Bombay HC quashes Re-Assessment Notice [Read Order]
The Bombay High Court quashed re assessment notice as there was true and full disclosure regarding valuation of equity shares. The Petitioner, The...
![No Tangible Material for AO to have ‘reason to believe’ for Escapement of Income: Bombay HC quashes Re-Assessment Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Tangible-material-AO-Escapement-of-Income-Escapement-of-Income-Income-Bombay-High-Court-Re-Assessment-Notice-Re-Assessment-taxscan-.jpg "No Tangible Material for AO to have ‘reason to believe’ for Escapement of Income: Bombay HC quashes Re-Assessment Notice [Read Order]")
![Notice issued u/s 148 of Income Tax Act towards a Non-Existent Company is not valid: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Bombay-High-Court-Notice-Income-Tax-Act-Non-Existent-Company-Bombay-HC-Income-Tax-Taxscan.jpg "Notice issued u/s 148 of Income Tax Act towards a Non-Existent Company is not valid: Bombay HC [Read Order]")
![Capital Gains earned by Blackstone not liable to Income Tax: Delhi HC quashes Proceedings and Order of Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Capital-Gains-Blackstone-Income-Tax-Delhi-Highcourt-Proceedings-Order-of-Reassessment-taxscan.jpg "Capital Gains earned by Blackstone not liable to Income Tax: Delhi HC quashes Proceedings and Order of Reassessment [Read Order]")
![“Close Relatives” include Uncle and Aunt: ITAT deletes Addition for Cash Gift from Close Relatives during Emergency [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Cash-Gift-from-Close-Relatives-Close-Relatives-Cash-Gift-Cash-Gift-from-Close-Relatives-during-Emergency-ITAT-Income-Tax-Income-Tax-Act-ITAT-deletes-Addition-Uncle-and-Aunt-taxscan-.jpg "“Close Relatives” include Uncle and Aunt: ITAT deletes Addition for Cash Gift from Close Relatives during Emergency [Read Order]")
Second notice issued u/s 148 of Income Tax Act without disposing return filed to first notice is not valid: Calcutta HC [Read Order]
The Calcutta High Court(HC)held that the second notice issued u/s 148 of the Income Tax Act without disposing return filed to the first notice is not valid. Messrs. Elite Pharmaceuticals, the...
![Second notice issued u/s 148 of Income Tax Act without disposing return filed to first notice is not valid: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-Tax-Act-notice-Income-tax-return-Income-tax-Calcutta-Highcourt-taxscan.jpg "Second notice issued u/s 148 of Income Tax Act without disposing return filed to first notice is not valid: Calcutta HC [Read Order]")
Issues raised in Reopening Assessment already considered during Assessment Proceedings: Gujarat HC quashes Sec 148 Notice issued to Amalgamating Company [Read Order]
The Gujarat High Court quashed notice issued to amalgamating company under Section 148 of the Income Tax Act, 1961 on the ground that the issues raised in reopening assessment already considered...
![Issues raised in Reopening Assessment already considered during Assessment Proceedings: Gujarat HC quashes Sec 148 Notice issued to Amalgamating Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Reopening-Assessment-Assessment-Proceedings-Gujarat-Highcourt-Amalgamating-Company-taxscan.jpg "Issues raised in Reopening Assessment already considered during Assessment Proceedings: Gujarat HC quashes Sec 148 Notice issued to Amalgamating Company [Read Order]")
Supreme Court rules Writ Petition can be entertained to examine if conditions for Issuance of Notice u/s 148 have been satisfied [Read Order]
The Supreme Court of India in a major ruling held that writ petition can be entertained to examine if conditions for issuance of notice under Section 148 of the Income Tax Act, 1961 have been...
![Supreme Court rules Writ Petition can be entertained to examine if conditions for Issuance of Notice u/s 148 have been satisfied [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Supreme-Court-Issuance-of-Notice-Writ-Petition-Notice-taxscan.jpg "Supreme Court rules Writ Petition can be entertained to examine if conditions for Issuance of Notice u/s 148 have been satisfied [Read Order]")
![PCIT not Authorised Authority: Calcutta HC quashes Reopening of Assessment of HUF [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/PCIT-Authorised-Authority-Calcutta-Highcourt-Assessment-of-HUF-Reopening-of-Assessment-of-HUF-taxscan.jpg "PCIT not Authorised Authority: Calcutta HC quashes Reopening of Assessment of HUF [Read Order]")
Verification of Cash Deposits without considering Repayment and Submissions of Assessee: ITAT cancels Confirmation of Additions [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench cancelled the confirmation of additional amount without verifying the repayment and submission of the assessee in case of Cash deposit. ...
![Verification of Cash Deposits without considering Repayment and Submissions of Assessee: ITAT cancels Confirmation of Additions [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Cash-Deposit-Verification-of-Cash-Deposits-Repayment-Submissions-of-Assessee-ITAT-taxscan.jpg "Verification of Cash Deposits without considering Repayment and Submissions of Assessee: ITAT cancels Confirmation of Additions [Read Order]")
No Addition can Sustain Unless Opportunity of Cross Examination given to Assessee when Addition Based on Third Party Statement: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, while deciding few appeals filed before it, held that no addition can sustain unless an opportunity of cross examination is given...
![No Addition can Sustain Unless Opportunity of Cross Examination given to Assessee when Addition Based on Third Party Statement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Sustain-Cross-Examination-Assessee-Addition-Third-Party-Statement-ITAT-taxscan.jpg "No Addition can Sustain Unless Opportunity of Cross Examination given to Assessee when Addition Based on Third Party Statement: ITAT [Read Order]")