Del. HC: Accrual of Cause of Action at a Place is not a Consideration for Determining Jurisdiction  ||  Mad. HC to State: Prevent use of Stickers such as ‘Police’ or ‘GOI’ on Private Vehicles  ||  Bom. HC: Magistrate Needn’t Provide Additional Reasons for Amount of Interim Compensation Awarded  ||  Del. HC: ‘THEOBROMA’ is Free to Expand its Outlets Across the Country  ||  Ker. HC: Detention Order Under KAPPA 2007 must be Confirmed Within 3 Months from Date of Execution  ||  Kar. HC: Not Every False Statement Made in Court Must be Subject to Prosecution  ||  Ker. HC: Roads are Ordinarily Deserted During Night; Likelihood of Causing Death by Accident is Less  ||  Del. HC: Severity of Offence Can’t Disentitle Foreigner to Get Parole for Filing SLP  ||  Cal. HC: Can’t Compound Proceedings u/s 138 NI Act at Revision Stage Without Complainant’s Consent  ||  Bom. HC: There Should be Some Accountability Fixed on Courts in Cases of Prolonged Incarceration    

Search Results for Tag : assessment

Judgments

If transaction of payment of rent is not found bogus then disallowance of expenditure under Section 40A(2)(b) of IT Act is not warranted(27.11.2020)

The assessee filed its return of income for the assessment year under consideration under Section 139(1) of the Income Tax Act, 1961 declaring total i.....

Tags : Assessment, Disallowance, Legality



Before the scrutiny assessment is made under Section 143(3) of IT Act, issuance of notice under Section 143(2) of IT Act is mandatory(11.05.2021)

Present appeal preferred by the assessee is against the order of Learned Principal Commissioner of Income Tax, passed under Section 263 of the Income .....

Tags : Assessment, Jurisdiction, Validity



Mere suspicion without any evidence on record could not be the basis for making an addition to income under Section 69 of IT Act(30.04.2021)

The instant appeal filed by the Revenue is directed against the order passed by the Commissioner of Income Tax (Appeals) arising out of the order pass.....

Tags : Assessment, Additions, Legality



Any material collected at the back of the assessee cannot be read in evidence against the assessee(13.05.2021)

Present appeal by Assessee has been directed against the Order of the Learned Commissioner of Income Tax CIT(A) challenging the reopening of the asses.....

Tags : Assessment, Additions, Legality



An order passed by the quasi-judicial authority should be in conformity with the principles of natural justice(06.07.2021)

In facts of the present case, the Appellant is an individual, who engaged in the business of Ferrous and Non-Ferrous Scrap Material. The return of inc.....

Tags : Assessment, Additions, Validity



Notifications & Circulars

CBDT has been asked to consider inclusion of Service Charge while assessing tax: Shri Ram Vilas Paswan(13.09.2017)

Shri Ram Vilas Paswan, Union Minister for Consumer Affairs, Food & Public Distribution told that in order to check the levying of Service Charge compu.....

Tags : Service Charge, Inclusion, Tax, Assessment



There should be reason to believe about escapement of income for initiation of reassessment proceedings, sufficiency of material cannot be considered at that stage(16.08.2019)

Present two appeals by the assessee relating to the assessment years arise out of the common order passed by the Commissioner of Income-tax (Appeals)......

Tags : Assessment, Additions, Legality



Top Story

Income Tax Department launched Faceless e-Assessment Scheme for income tax payers(07.10.2019)

In order to impart greater efficiency, transparency and accountability in the assessment process, I.T. Department launched Faceless e-Assessment Schem.....

Tags : E-Assessment, Centre, Launch



In absence of any challenge to the facts recorded by the ITAT, the question so posed by the Revenue cannot be termed as substantial question of law(27.12.2021)

In instant matter, Respondent filed his income tax return for the A.Y. 2008-09 on 30th September, 2008 and declared income of Rs. 1,66,75,690. This in.....

Tags : Assessment, Exemption, Entitlement



Amount of investment which yielded exempt income alone should be taken into consideration for purpose of arriving at average value of investment(08.06.2021)

In facts of present case, the Appellant is a Company incorporated under the Companies Act, 1956 and engaged in the business of investment in shares an.....

Tags : Assessment, Disallowance, Legality



Concealment of income can be levied only in cases where the concealment has been proved(26.07.2021)

Assessee is a company who filed its return of income for A.Y. 2008-09, declaring total income of Rs.1307,37,84,038. Thereafter, assessee filed revised.....

Tags : Assessment, Penalty, Levy



International Cases

A private company running on commercial lines is not entitled to exemptions under Section 10 Income Tax Act(20.11.2020)

The Appellant, City Power Soc Limited (City Power), is a state-owned company that is wholly owned by the City of Johannesburg (the City). In 2014, it .....

Tags : Assessments, Exemption, Applicability



To avail benefit under Section 54 of IT Act, unutilized portion of capital gains has to be deposited by assessee in capital gain account scheme before due date of filing of return of income(23.12.2020)

Present appeal filed by the assessee is directed against order of the learned Commissioner of Income Tax (Appeals) [CIT(A)]. The assessee argued that,.....

Tags : Assessment, Exemption, Entitlement



Non-consideration of reply filed by the assessee amounts to violation of the principles of natural justice(17.06.2021)

The Appellant, a dealer of printers, peripherals and its parts has approached present Court challenging Exhibit P4 order of assessment issued by the S.....

Tags : Assessment, Natural Justice, Principles



Interest income generated out of surplus fund invested in the Fixed Deposit is a part of the business income(25.10.2021)

The fact of the case is that, assessment under Section 143(3) read with Section 263 of the Income Tax Act, 1961 (IT Act) was finalized at Rs. 42,09,9.....

Tags : Assessment, Disallowance, Provision



Reopening on the basis of the report of Investigation Wing without independent application of mind by AO is not valid(07.07.2021)

In present case, the assessee is a company and had filed its return of income on 30th September, 2011 declaring a loss of Rs.3,91,500. The return was .....

Tags : Assessment, Re-opening, Validity



Exemption under Sections 11 and 12 of the IT Act is available as Assessee is not engaged in trade, commerce and business and its dominant and prime objective is charitable in nature(24.09.2021)

In present matter, Assessee being a society registered under Societies Registration Act is also granted registration under section 12A of the Income-t.....

Tags : Assessment, Exemption, Entitlement



When land is agricultural land, no tax is payable, when the compensation/enhanced compensation is received by assessee(16.04.2021)

The assessee is agriculturist, his land was acquired by the Government and he received total compensation of Rs. 2,56,29,932 from land acquisition off.....

Tags : Assessment, Additions, Legality



The revised return of income filed within the prescribed time limit replaces the original return of income(08.12.2020)

The assessee has filed present appeal challenging the order passed by learned Commissioner Of Income Tax (CIT(A)). The assessee is challenging the dis.....

Tags : Assessment, Disallowance, Legality



Waiver of loan amount cannot be brought to tax as same is on capital account and not in the nature of income(24.08.2021)

In facts of present case, the assessee is a limited company engaged in manufacturing and trading of PVC Foam sheets. The assessee has e- filed return .....

Tags : Assessment, Addition, Legality



Assessee is not entitled to deduction in respect of interest income earned from investments with Co- operative Banks(14.10.2021)

The assessee is a co-operative society registered under the Karnataka Co-operative Societies Act, 1959. For the assessment year 2015-2016, the return .....

Tags : Assessment, Deduction, Disallowance



Without serving enhancement notice, it is settled position of law that, no enhancement can be made by the CIT(A)(11.10.2021)

In facts of present case, the assessee is an individual. For the assessment year 2012-2013, the return of income was filed declaring total income of R.....

Tags : Assessment, Addition, Legality



Premium collected by Company on its share capital cannot be claimed as deduction(28.03.2017)

Appellant is a Limited Company engaged in business of manufacture and sale of various kinds of paints. For Assessment Year 1996-1997, Appellant (Asses.....

Tags : Assessment, Deduction, Entitlement



Where initiation of penalty is one limb and the levy of penalty is on other limb, then in the absence of proper show cause notice to the assessee, there is no merit in levy of penalty(27.09.2021)

Assessee is an individual stated to be engaged in the business of financial services and facilitates loans to various clients from financial instituti.....

Tags : Assessment, Penalty, Legality



Refund claim cannot be entertained unless order of assessment is modified(18.09.2019)

Present appeals have been preferred by the Assessees as well as by the Union of India aggrieved by the judgment and order passed by the High Courts an.....

Tags : Assessment, Refund claim, Maintainability



Quantum proceedings and penalty proceedings are independent and so, distinct proceedings and confirmation of an addition cannot, on a standalone basis, justify upholding of a penalty(02.09.2021)

By present miscellaneous application, the applicant revenue seeks to recall order passed, wherein the revenue's appeal was summarily dismissed on acco.....

Tags : Assessment, Penalty, Upholding of



In order to bring ‘Business profits’ of a resident of the other country to tax in India within the ambit of Article 7 of DTAA, foreign enterprise must have a Permanent Establishment (PE) in India(15.06.2021)

The assessee is a company registered in, and a tax resident of the United States of America. No return of income was filed for the year under consider.....

Tags : Assessment, Tax, Levy



Revision proceedings shall lie if the assessment order is erroneous and prejudicial to the interests of revenue(09.10.2020)

The assessee has filed present appeal challenging the revision order passed by Learned Principal Commissioner of Income Tax, New Delhi under Section 2.....

Tags : Assessment, Revision proceedings, Legality



Remittance made by the assessee abroad towards commission expenses is not chargeable to tax in India(11.01.2021)

In instant case, the Assessing Officer (AO) disallowed claim towards commission expenses on export sales to the extent of Rs. 78,90,570 in the course .....

Tags : Assessment, Tax, Levy



No additions could be based merely on doubts, conjectures or surmises(03.12.2020)

The assessee being resident corporate assessee is stated to be engaged in civil construction. It was assessed for year under consideration under Secti.....

Tags : Assessment, Additions, Legality



When the time limit for taking credit was not prescribed on date of issue of invoices, the subsequent amendment stipulating the time limit for availing the credit shall not apply(14.12.2021)

The issue involved in the present appeal is that whether the Appellant is entitled for cenvat credit on the input service, when the credit was availed.....

Tags : Assessment, Cenvat credit, Entitlement



Corpus funds received by the trust are capital receipts, not includible in income of the trust(20.10.2021)

The assessee is a trust, filed its return of income claiming exemption under Section 11 of the Income Tax Act, 1961 (IT Act). The Assessing Officer, o.....

Tags : Assessment, Deduction, Entitlement



If the cause of delay as explained by Assessee is found to be factually correct then, laps on part of Assessee cannot be a ground for rejecting condonation of delay(20.07.2020)

Present appeal by the Assessee is directed against the order of the Commissioner of Income Tax (Appeal) (CIT(A)), Jaipur. There is delay of 349 days i.....

Tags : Assessment, Delay, Condonation



Assessable value can't be rejected merely on the grounds of NIDB data(27.09.2018)

The present appeal is filed by the Appellant against the Order-in-Appeal passed by the Commissioner(Appeal), wherein he has set aside the Order-in-Ori.....

Tags : Assessment, Valuation, NIDB data



Liability appearing in the Balance Sheet tantamount to acknowledgement of debt(02.09.2021)

In facts of present case, an amount of Rs. 6,03,90,079 was disallowed under Section 41(1) of the Income Tax Act, 1961 (IT Act) and added to the total .....

Tags : Assessment, Addition, Liability



Payments made for acquiring right to use product itself, without allowing any right to use the copyright in the product are not covered with the scope of 'Royalty'(14.12.2021)

The Appellant Company is a business corporation incorporated in USA and engaged in the business of providing information products and services contain.....

Tags : Assessment, Addition, Legality



Share Application Money as transferred by the assessee is ‘Capital Asset’ for the purpose of Income Tax Act, 1961(15.12.2020)

In facts of present case, as a part of corporate restructuring undertaken by the assessee group, it was decided that, shares of certain group entities.....

Tags : Assessment, Share money, Capital Assets



Loss arose to Assessee on sales of another assets cannot set off from capital gain of previous assets(11.08.2020)

The facts in brief are that, the Assessee is an individual and filed his return of total income declaring income of Rs. 74,69,570. During the year und.....

Tags : Assessment, Capital gain, Set-off



Transaction value at which the goods are sold has to be taken for the purpose of assessment(10.12.2021)

The issue involved is that, whether the Appellant is entitled for Cenvat Credit in respect of GTA services. The Appellants submits that, the adjudicat.....

Tags : Assessment, Cenvat credit, Entitlement



Expenditure incurred towards membership fee paid by company is allowable as revenue expenditure(19.01.2021)

Present appeal filed by the assessee is directed against the order passed by the Learned Commissioner of Income Tax [CIT(A)]. The only effective groun.....

Tags : Assessment, Additions, Legality



CIT(A) is obligated to state points for determination in appeal before him, the decision thereon and the reasons for determination(22.04.2021)

The assessment in the case of the assessee was framed by Assessing Officer (AO) under Section 143(3) read with Section 144 of the Income Tax Act, 1961.....

Tags : Assessment, Additions, Legality



Hostel facility is incidental to achieve the object of providing education and comes under charitable purpose which is exempt under Section 11 of IT Act(03.11.2021)

The assessee society is duly registered with the Registrar of Society, Uttar Pradesh and the renewal was granted vide letter dated 6th February, 2012 .....

Tags : Assessment, Additions, Validity



The amounts received by the assessee on account of sale of software and other incidental receipts would not constitute royalty within the meaning of Section 9(1)(vi) of IT Act(25.08.2021)

The assessee is a foreign company. It is engaged in the business of development and licencing of software products. During the relevant assessment yea.....

Tags : Assessment, Royalty, Inclusion



When Joint Commissioner recorded satisfaction in a mechanical manner to accord sanction for issuing notice under section 148 of IT Act, reopening of assessment was invalid(16.04.2021)

The assessee is a private limited company and filed its return of income, declaring income of Rs.42,396. In present case, information was received fro.....

Tags : Additions, Assessment, Legality



Employees' contribution paid by assessee before the due date of filing of return of income under Section 139(1) of the IT Act is an allowable deduction(01.02.2022)

In facts of present case, for the assessment year 2018-2019, the return of income was filed declaring loss of Rs.6,06,66,516. The assessee was served .....

Tags : Assessment, Deduction, Allowability



Once assessee has raised a legal issue challenging validity of notice under Section 148 of IT Act irrespective of non-appearance of assessee, Commissioner of Income Tax has to adjudicate legal issues(17.03.2021)

The Assessing Officer while passing the order under Section 147 read with Section 143 (3) of Income Tax Act, 1961 (IT Act) has made an addition of Rs......

Tags : Assessment, Additions, Exparte order



Writ petition is maintainable if Assessment Order passed without complying with the procedure laid down in the Scheme and in violation of principles of natural justice(14.07.2021)

Present petition has been filed by the Petitioner challenging the Assessment Order passed under Section 143(3) read with Sections 143(3A) and 143(3B) .....

Tags : Assessment, Procedure, Compliance



If a legal fiction is introduced that legal fiction must be taken to the logical end(28.02.2019)

Present appeals filed under Section 35L of the Central Excise Act, 1944 (Excise Act) question the correctness of the Final Order passed by the Tribuna.....

Tags : Assessment, Duty, Levy



Notice under Section 148 of IT Act cannot be issued merely on basis of suspicion(23.12.2020)

Assessee, an individual, was engaged in agricultural activity during the relevant year. In the case of the assessee, an information was received throu.....

Tags : Assessment, Reopening, Validity



Summary judgment should be awarded only in clearest of cases, where one party can demonstrate that, question will certainly be resolved in their favour(20.10.2017)

The primary judge granted summary judgment to the Deputy Commissioner of Taxation in two actions brought against the Appellants. The actions had been .....

Tags : Assessment, Validity, Estoppel



Once the income was offered in the return, the same could not have been treated as cash credit under Section 68 or unexplained investment under Section 69 of the IT Act(31.01.2022)

The assessee is an individual who filed his return consisted of income from conducting tuitions and also carrying out the work of accounts writing. T.....

Tags : Assessment, Additions, Legality



Multiple matrimonial/penal proceedings launched by daughter-in- law against Assessee's entire family is a sufficient reason beyond assessee’s control and sufficient to condone the delay(29.01.2021)

Appellant by filing the present appeal sought to set aside the impugned order passed by the Commissioner of Income-tax (Appeals), Delhi qua the assess.....

Tags : Assessment, Additions, Delay, Condonation



AO gets jurisdiction to reopen assessment only after recording the reasons for reopening and thereafter, issuing notice under Section 148 of IT Act within prescribed time(05.05.2021)

The assessee individual, filed her return of income admitting income of Rs.2,27,890. AO received information that the assessee, along with 4 others, h.....

Tags : Re-assessment, initiation, Validity



Past history of assessee is a proper and reasonable guideline for estimation of income after rejection of books of account(15.07.2021)

The only issue arises in this appeal of the assessee is regarding addition made by Assessing Officer by applying net profit rate of 7% as against net .....

Tags : Assessment, Addition, Legality



Employer of an independent contractor is not liable for negligence or other torts committed by contractor in the course of execution of work(01.04.2020)

In present appeal, the Supreme Court is asked to decide whether Barclays Bank is vicariously liable for sexual assaults allegedly committed between 19.....

Tags : Medical assessment, Assaults, Liability



Customs to begin faceless assessment of imports across India(04.09.2020)

In a step forward to ease of doing business module, the Customs Department will soon initiate pan-India faceless assessment for all imported goods by .....

Tags : Customs, Faceless assessment, Imports



When the notice issued by the AO is vague and ambiguous, the penalty proceedings initiated under Section 271(1)(c) of IT Act are not sustainable(13.08.2021)

In facts of present case, on the basis of assessment framed under Section 143(3) of Income Tax Act, 1961, penalty proceedings have been initiated for .....

Tags : Assessment, Penalty, Legality



Payment by employer to tax consultants to render assistance to expatriate employees is taxable ‘benefit or advantage’ as contemplated in the definition of ‘gross income’(06.09.2019)

The Appellant, BMW South Africa (Pty) Ltd (BMWSA), is part of the BMW Group (the Group) that manufactures and markets BMW vehicles and conducts worldw.....

Tags : Payment, Tax Consultant, Assessment, Legality



Penalty levied shall be cancelled, where as a result of final order, the amount of tax, with respect to the default in payment of which the penalty was levied, has been wholly reduced(20.07.2021)

Both the appeals filed by the respective assessees are directed against the orders passed by Learned Commissioner of Income Tax [CIT(A)] in their resp.....

Tags : Assessment, Penalty, Levy



Actually, I’m an actuary(25.07.2016)

Maybe a comparison with weather forecasters is unfair to actuaries. After all, meteorologists have algorithms, supercomputers to further their voodoo .....

Tags : actuary, insurance, risk assessment, financial disclosure



Payments made by the non-resident company, cannot be considered as "royalty payments" and do not give rise any income chargeable in India under Indian IT Act(03.09.2021)

The Assessee herein is an Indian company. The AO noticed that the Assessee has made payments to M/s Face Ireland Ltd towards advertisement charges. Th.....

Tags : Assessment, Deduction, Legality



In the absence of any new tangible material, the case could not be reopened on mere change of opinion(01.06.2021)

The material facts are that, the assessee being resident corporate assessee stated to be engaged in power generation, real estate, securities etc. was.....

Tags : Escapement, Income Reassessment, Legality



Retrospective provision in a taxing Act which is "for the removal of doubts" cannot be presumed to be retrospective, if it alters or changes the law as it earlier stood(14.10.2021)

The assessee has filed present appeal challenging the order passed by Learned Commissioner of Income Tax [CIT(A)], National Faceless Appeal Centre and.....

Tags : Assessment, Disallowance, Legality



In absence of any evidence of coercion or undue influence the statements recorded during the survey are admissible evidence(17.05.2021)

Facts of the case are that a survey action under Section 133A of the Income Tax Act, 1961 (IT Act) was conducted at the business premises of the asses.....

Tags : Assessment, Survey proceedings, Evidence



Domestic transactions with an Associate Enterprise (AE) would not constitute “Specific Domestic Transactions” for the purpose of Section 92BA of IT Act(29.06.2020)

The captioned appeal has been filed at the instance of the Assessee against the order of the Principal Commissioner of Income Tax, (‘Pr.CIT’), arising.....

Tags : Assessment, Revisional order, Legality



Delivery of cover is immaterial and if department could establish that, notice was dispatched before expiry of limitation, it would be sufficient to meet the requirement of Section 149 of IT Act(28.06.2021)

The notice issued under Section 148 of the Income Tax Act, 1961 (IT Act) in proceeding as well as the impugned letter issued by the 2nd Respondent are.....

Tags : Assessment, Notice, Jurisdiction



Once it is an established fact that, there is a commercial expediency, no interest can be disallowed under Section 36(1)(iii) of the IT Act(10.02.2022)

The assessee is a company engaged in the business of setting up & service of Effluent Water Treatment Plants, filed return of income. During the cours.....

Tags : Assessment, Additions, Legality



Once the issue verified by Assessing Officer and jurisdictional Court has allowed claim related to interest income earned from Co-operative Bank, PCIT cannot exercise Section 263 of IT Act(21.02.2022)

The assessee is a Co-operative Society carrying on business of providing credit facilities to its members. The return of income was filed by the asses.....

Tags : Assessment, Reframing, Legality



Quantification of penalty is dependent upon the additions made to the income of the assessee(02.08.2021)

Assessee is a company stated to be engaged in the business of carrying on infrastructure activities. Assessee filed its return of income for Assessmen.....

Tags : Assessment, Penalty, Validity



A genuine arrangement cannot be disregarded when same results or operates to minimize Assessee’s tax liability(05.03.2020)

Present is an Appeal by the Assessee directed against the Order by the Commissioner of Income Tax (Appeals), partly allowing the assessees’ appeal. Th.....

Tags : Assessment, Genuine arrangement, Legality



MoHUA launches field assessment of Swachh Survekshan 2021(01.03.2021)

Shri Durga Shanker Mishra, Secretary, Ministry of Housing and Housing Affairs (MoHUA) launched the field assessment of Swachh Survekshan (SS) 2021, th.....

Tags : Field assessment, Swachh Survekshan, Launch



LIBOR rate of interest is applicable while computing the notional interest on receivables from the associated enterprises (AEs)(07.05.2021)

The brief facts of the case are that, the assessee is a Private Limited company engaged in the business of manufacturing steel rods filed its return o.....

Tags : Assessment, Expenditure, Disallowance



Issuance of notice under Section 143(2) of IT Act is mandatory in reassessment cases also(04.03.2022)

In present case, the original assessment of the assessee was made after scrutiny under Section 143(3) of the Income-tax Act, 1961 (IT Act) and assesse.....

Tags : Reassessment order, Notice, Validity



For exercising power under Section 263 of IT Act, there should be material on record to prove that order is not only prejudicial to the interest of Revenue but also erroneous in nature(14.02.2022)

Present appeal by the assessee is preferred against the order of the Principal Commissioner of Income Tax [Appeals], framed under Section 263 of the I.....

Tags : Assessment, Jurisdiction, Validity



Primary onus lies upon the assessee to justify that the business decisions were taken in the course of the business only(13.04.2022)

The assessee is a private limited company and engaged in the business of manufacturing Glazed Ceramics Tiles. The assessee in the year under considera.....

Tags : Assessment, Additions, Legality



A mistake apparent on the record must be patent mistake and not something which can be established by a long-drawn process of reasoning(09.03.2022)

The facts of the case are that, assessee filed a loss return of Rs.1,76,77,280. However, the said return was revised to rectify certain mistakes decla.....

Tags : Assessment, Rectification, Allowability



Assessee cannot agitate once again on the same issues, which are already adjudicated(05.05.2022)

The assessee filed return of income for the assessment year 2010-11 declaring total income and the same was processed under Section 143(1) of the Inco.....

Tags : Assessment, Additions, Legality



Documents seized must be incriminating and must relate to each of the assessment years whose assessments are sought to be reopened(04.05.2022)

The appeal is preferred by the assessee against order in appeal for the assessment year 2013-14 passed by Learned Commissioner of Income Tax (Appeals).....

Tags : Assessment, Additions, Legality



Finance Minister to release assessment report of States/UTs based on implementation of Business Reforms Action Plan in presence of Commerce and Industry Minister Shri Piyush Goyal(29.06.2022)

Sectoral reforms introduced for the first time in BRAP 2020 with 72 reforms across 9 key sectors

Smt. Nirmala Sitharaman, Hon'ble Minister of.....

Tags : Assessment report, Release, BRAP



Allegation in the notice issued under Section 148A(b) of the IT Act has to be precise not vague(05.08.2022)

Present writ petition has been filed challenging the order passed under Section 148A(d) of the Income Tax Act, 1961 and the consequential notice issue.....

Tags : Assessment, Notice, Legality



Transfer pricing adjustment should be restricted only to the international transactions and not the entity level transactions(01.08.2022)

In facts of present case, the assessee filed its return declaring loss of Rs.1.55 crore. Certain international transactions were reported in Form No.3.....

Tags : Assessment, Transfer pricing, International Transaction



Before making an order under Section 148A(d) of the IT Act, Assessing Officer has to consider the reply of the Assessee in response to the notice(18.05.2022)

Present writ petition has been filed challenging the order passed under Section 148A(d) and the notice issued under Section 148 of the Income Tax Act,.....

Tags : Assessment, Notice, Reply thereto



No disallowance under Section 36(1)(va) of IT Act can be made on account of delayed payment of PF and ESIC, if such payments are made before the due date of filing of the return(14.07.2022)

The assessee is a private limited company engaged in the business of automobile dealership business. It filed its return of income. The return was pro.....

Tags : Assessment, Addition, Legality



Expenditure incurred for up-gradation of existing products is revenue expenditure(17.05.2022)

The issue in the present appeal relates to the allowability of the expenditure claimed as product development expenses of Rs.1,42,39,571 as revenue ex.....

Tags : Assessment, Expenditure, Nature



Burden is on the assessee to establish identity, creditworthiness and genuineness of the transaction for sum credited in the books of accounts to the satisfaction of the Assessing Officer(10.08.2022)

The assessee is an individual, who has not filed return under Section 139 of the Income Tax Act, 1961 (IT Act). Search and seizure operation under Sec.....

Tags : Assessment, Transaction, Genuineness



No debatable issue can be considered while doing adjustment under Section 143(1)(a) of IT Act(10.08.2022)

The assessee-company filed its return of income under Section 139(1) of Income Tax Act, 1961 (IT Act) declaring total income at Rs. 6,34,38,721 under .....

Tags : Assessment, Deduction, Disallowance



Club Membership Fees for subscription is allowable as a business expenditure(17.08.2022)

Assessee is a chartered accountancy firm engaged in providing services in the field of Assurance, Risk Advisory, Tax Advisory, Corporate Advisory and .....

Tags : Assessment, Disallowance, Legality



Mere reflecting the unexplained cash in the books of accounts in absence of any supportive documents, cannot be ground for deletion of the addition(02.12.2022)

In present case, the assessee was engaged in manufacturing and trading of paper and paper board. The assessee filed return of income declaring 'NIL' i.....

Tags : Assessment, Deletion, Legality



Addition made purely on the basis of conjectures and surmises is not permissible under law(17.05.2022)

The assessee is an individual and is engaged as partner in the business of manufacturing of shoes under the name "Zoomtech Industries" who filed retur.....

Tags : Assessment, Additions, Legality



When the assessee has proved the initial onus lay upon it by proving the creditworthiness and genuineness of the transaction in the matter, addition cannot be made(14.10.2022)

The assessee is a company and e-filed it's return of income declaring loss of Rs.1,24,94,251. The case of the assessee company was selected for scruti.....

Tags : Assessment, Addition, Legality



When the creditors have appeared personally and confirmed the transaction, they cannot be disbelieved(14.12.2022)

The assessee is an individual, who is deriving salary income and interest in firm. It was the submission that the assessee had acquired certain immova.....

Tags : Assessment, Addition, Legality



Investment in excess stock computed by the department is liable to be treated as business income(10.10.2022)

The Appellant is an individual engaged in the business of trading of furniture and the Appellant had filed return of income. A survey operation was co.....

Tags : Assessment, Provision, Applicability



In absence of any specific finding against the assessee, the assessee cannot be held to be linked to the wrong acts merely on basis of assumptions(23.12.2022)

The assessee is an individual and deriving income from business and from investment in shares and from other sources. The assessee for the year under .....

Tags : Assessment, Additions, Legality



Section 14A of IT Act will not apply, if no exempt income is received or receivable during the relevant previous year(06.10.2022)

Present Income Tax Appeal has been filed challenging the Impugned Order passed by the Income Tax Appellate Tribunal ('ITAT') for the Assessment Year 2.....

Tags : Assessment, Expenses, Interest



Assessing officer has to demonstrate that the escapement of income was due to failure on the part of the assessee(04.10.2022)

Assessee is a resident partnership firm engaged in manufacturing and export of garments. For the assessment year under dispute, assessee filed its ret.....

Tags : Assessment, Addition, Legality



In limited scrutiny, AO cannot go beyond dispute raised in notice(23.12.2022)

Present is an appeal filed by the assessee against the order of the learned Commissioner of Income Tax (Appeals). The assessee submitted that, the lea.....

Tags : Limited Scrutiny Assessment, Notice for verification, Dispute raised



An objection is part of the pre-litigation administrative process and is not a pleading(07.10.2022)

The issues in present appeal were whether it was permissible to amend the grounds of objection against an additional assessment issued by the Appellan.....

Tags : Assessment, Objection, Allowability



In the absence of obligation to deduct tax at source, the assessee cannot be held to be an assessee in default(10.01.2023)

The Appellant is a company incorporated under the provisions of the Companies Act, 1956. It is engaged in the business of dealing in flats constructio.....

Tags : Assessment, Interest, Liability



CIT(A) has no power to dismiss an appeal on account of non-prosecution, without discussing the merits of the case(20.10.2022)

The brief facts of the case are that the return of income was filed by the assessee declaring total income of Nil in the status of AOP (Trust), after .....

Tags : Assessment, Enquiry, Obligation



Sum received from creditors cannot be regarded as unexplained credit/ income of the assessee(21.12.2022)

Present appeal filed by the assessee is directed against the order of the Commissioner of Income Tax (Appeals), and pertains to assessment year 2013-1.....

Tags : Assessment, Additions, Legality



Authorities are required to assist the assessee in the assessment proceedings by giving effect to the correct position of law(01.12.2022)

In present matter, the assessee raised grounds of appeal challenging the action of CIT(A) in confirming the order of AO in denying exemption under Sec.....

Tags : Assessment, Exemption, Entitlement



No jurisdiction can be assumed for framing assessment under Section 147 of the IT Act in absence of reasons to believe about the escapement of income(19.12.2022)

The assessee is a real estate agent, who furnished his original return. Thereafter, the Assessing Officer (AO) received information indicating that, t.....

Tags : Assessment, Additions, Legality



Merely an addition made during the quantum proceeding will not attract penalty under Section 271(1)(c) of the IT Act(04.01.2023)

Appeal has been filed at the instance of the assessee against the order of the learned Commissioner of Income Tax (Appeals) (CIT(A)), arising in the m.....

Tags : Assessment, Addition, Legality



Suo motu power of revision could be exercised by the Revisional Authority, when an order made in proceeding is prejudicial to the interests of the State(01.02.2023)

Present appeal, by special leave registers a challenge to an order passed by the High Court dismissing Civil Writ Petition presented by the Appellant .....

Tags : Revisional Authority, Powers, Assessment orders



IBC has overriding effect on all the acts including Income Tax Act(16.02.2023)

The assessment proceedings have been initiated against the Assessee and an assessment order came to be passed by disallowing the expenditure of Rs. 44.....

Tags : Assessment, Expenditure, Disallowance



Reasons for the formation of the belief must have rational connection with or relevant bearing on the formation of the belief(18.01.2023)

The assessee is a resident individual engaged in Multi-Level-Marketing on agency basis, had filed return of income ["ITR"] for AY 2011-12 declaring to.....

Tags : Assessment, Tax, Levy



Assessee is entitled to raise the additional ground not merely in terms of legal submissions but also legal claim not made in the return filed by it(24.03.2023)

Asessee is a company stated to be engaged in the business of formulation and marketing of plant protection agro-chemical, including insecticides, herb.....

Tags : Assessment, Additional ground, Raising of



Assessing Officer is bound to supply reasons of reopening of assessment(18.01.2023)

In present case, the assessment was reopened under Section 147 of the Income-tax Act, 1961 and an assessment under Section 143(3) read with Section 14.....

Tags : Assessment, Re-opening, Validity



In the absence of enabling powers, no disallowance can be made(05.04.2023)

The Assessee filed its return of income declaring total income at Rs. 'Nil' after claiming deduction under Section 80P of the Income-tax Act, amountin.....

Tags : Assessment, Disallowance, Legality



Expenses claimed by the assessee incurred during the regular course of business cannot be treated as capital expenses(10.02.2023)

Assessee is a company stated to be engaged in the business of software development. Assessee electronically filed its return of income for A.Y. 2016-1.....

Tags : Assessment, Deletion, Legality



Notice must stipulate that there was a failure on the part of the assessee to disclose fully and truly material facts necessary for its assessment(13.03.2023)

By present writ petition invoking jurisdiction under Article 226 of the Constitution of India, the Petitioner impugns Notice issued by the Respondent .....

Tags : Assessment, Notice, Legality



Essential operations of the business must be conducted within the jurisdiction in respect of which exemption is sought(07.02.2023)

The Respondent, CIMSA, is the holding company for the Coronation Group which is registered and tax resident in South Africa. During 2012, CIMSA was a .....

Tags : Income, Assessment, Tax



Interest should be charged from the date of notice under Section 148 of the IT Act itself and not from the date of return filed(19.04.2023)

The assessee is an individual and derives income mainly from interest and other sources. The return of income under Section 139 of Income Tax Act, 196.....

Tags : Assessment, Interest, Legality



Audit report can be filed even at the appellate stage(02.03.2023)

The assessee is a trust, which had filed its return of income for the relevant assessment year year. However, when the return of income was filed, the.....

Tags : Audit report, Assessment, Return



Notice itself would be invalid, if signature of the Assessing Officer have not been affixed on the notice issued under Section 148 of the IT Act(09.01.2023)

Present Writ Petition filed under Article 226 of the Constitution of India, 1950 seeks from this Court, a Writ of Certiorari to quash and set aside th.....

Tags : Assessment, Notice, Legality



AO is not empowered to apply Rule 8D of IT Act without considering the correctness of the assessee's claim in respect of expenditure incurred in relation to the exempt income(20.02.2023)

The assessee filed its return for income for A.Y. 2011-12 on 21.11.2011 declaring total income at Rs. 358,47,29,328 under normal provisions and book p.....

Tags : Assessment, Expenditure, Disallowance



Employees' contribution to PF and ESI, if not remitted before the due date prescribed in the respective enactments, cannot be allowed as a deduction(07.03.2023)

The assessee is a company and filed its return of income declaring total income of Rs.36,49,56,410. The return of income was processed under Section 1.....

Tags : Assessment, Return, Disallowance



Mere making of a claim which is not sustainable in law by itself will not amount to furnishing of inaccurate particulars of income(10.05.2023)

The assessee has filed present appeal challenging the order passed by the Learned Commissioner of Income Tax (Appeals) and it relates to Assessment Ye.....

Tags : Assessment, Penalty, Legality



Disallowance of expenses under Section 14A of IT Act cannot exceed amount of exempted income(17.03.2023)

The assessee filed its return of income for assessment year 2015-16 declaring total income of 50,49,400. The case of the assessee was selected for lim.....

Tags : Assessment, Expenditure, Disallowance



Deduction under Section 36(1)(va) of the IT Act can be allowed only if the employees' share in the relevant funds is deposited by the employer before the due date stipulated in respective Acts(12.05.2023)

Assessee is a company stated to be engaged in the business of manufacturing of components for automobile industry. Assessee electronically filed its r.....

Tags : Assessment, Disallowance, Legality



On mere recording of the inventory in the books of accounts, the transaction in question would not become stock in trade(04.05.2023)

The Revenue has preferred the present appeal feeling aggrieved and dissatisfied with the impugned judgment passed by the High Court by which, the High.....

Tags : Assessment, Addition, Transaction



No addition can be made by the Assessing Officer in absence of any incriminating material relating to completed assessments(24.04.2023)

The core issue involved in the present batch of appeals is the scope of assessment under Section 153A of the Income Tax Act, 1961. According to the Re.....

Tags : Assessment, Additions, Jurisdiction



The date of the Panchnama last drawn would be the relevant date for considering the period of limitation of two years(24.03.2023)

The respective assessees have preferred the present appeals feeling aggrieved with the impugned common judgment and order passed by the High Court, by.....

Tags : Assessment orders, Panchnama, Time limit



Disallowance is not sustainable as repairs to machineries is not capital expenditure(09.06.2023)

Present appeal has been filed by the assessee against order passed by the learned Commissioner of Income Tax (Appeals) ["CIT(A)"] confirming the disal.....

Tags : Assessment, Disallowance, Legality



Re-organisation of National Assessment Centres and Faceless Assessment Groups(31.05.2023)

1. Reference is invited to Circular No.40/2020-Customs dated 04.09.2020 on the constitution of National Assessment Centres (NACs), their roles and res.....

Tags : Re-organisation, Assessment Centres, Faceless Assessment



Only profit element in excess stock should be brought under the purview of the tax(16.03.2023)

The assessee is a private limited company engaged in rice bran (solvent) and rice bran oil refinery. A survey was conducted under Section 133A of the .....

Tags : Assessment, Addition, Confirmation



Completed assessment cannot be disturbed in absence of any incriminating material/documents found in the course of search(17.05.2023)

The assessee in the present case is a private limited company and engaged in the business of Ship Breaking. There was a search and seizure operation u.....

Tags : Assessment, Deletion, Legality



Assessment framed merely on the basis of an information of cash deposit is not tenable in absence of any material establishing that income has escaped the assessment(14.06.2023)

In facts of present case, it had come to the notice of the Assessing Officer (AO) that, the assessee had deposited cash of Rs.11.21 lakhs in the Bank .....

Tags : Assessment, Addition, Legality



Assessee can't be denied the benefit of exemption under Section 11 of IT Act for mere delay in filing of audit-report(23.06.2023)

The assessee is a charitable/religious trust, engaged in carrying out charitable/religious activities, registered under Section 12A/12AA of the Income.....

Tags : Assessment, Exemption, Benefit



Person receiving donation is under obligation to maintain the identity of donors indicating the name and address(03.05.2023)

The present appeal is directed at the instance of the revenue against the order of the Learned Commissioner of Income Tax (Appeals). The sole issue ra.....

Tags : Assessment, Anonymous donations, Deletion



In the absence of any new tangible material, the case could not be reopened on mere change of opinion(23.06.2023)

The original return of income filed by the assessee was scrutinized under Section 143(3) of Income Tax Act, 1961 (IT Act) determining the income at Rs.....

Tags : Assessment, Reopening, Legality



In case of unabated assessment years, the addition could be made only on the basis of any incriminating material found during the course of search(28.06.2023)

The revenue is aggrieved by the decision of learned CIT(A) in deleting the addition of Rs.6.00 crore, being the loans taken by the assessee from Prave.....

Tags : Assessment, Addition, Deletion



For applicability of TDS obligation under Section 194H of IT Act, there should exist agency relationship between the payer and the payee(27.06.2023)

The grievance of the assessee in captioned appeals is demand raised under Section 201(1) / (1A) of Income Tax Act, 1961 (IT Act) for want of tax deduc.....

Tags : TDS, Assessment, Demand



A completed assessment cannot be disturbed based on fancy or whimsical grounds or on the basis of 'reason to suspect'(09.08.2023)

Appeal has been filed by the assessee against the order of the learned Commissioner of Income Tax (Appeals) arising from the assessment order passed b.....

Tags : Re-assessment, Jurisdiction, Legality



Suspicion, however, strong it may be, the same cannot be accepted as final truth without bringing on record some tangible evidence(24.08.2023)

The assessee engaged in the business of manufacturing, export and retail sale of jewellery, filed its return of income for AY 2017-18 at a total incom.....

Tags : Assessment, Deletion, Legality



Assessee is entitled to exemption under Section 40A(3) of IT Act, if the assessee is not able to make the payment through banking channel due to freezing of the bank account(08.09.2023)

Two additions, namely, Rs. 47,60,415 and Rs. 2,63,06,238 made under Section 40(a)(ia) and 40A(3) of the Income Tax Act, 1961 (IT Act) are challenged i.....

Tags : Assessment, Exemption, Entitlement



Where assessee's own funds and other non-interest bearing funds were more than the investment in tax-free securities, no disallowance under Section 14A of the IT Act can be made(19.07.2023)

The assessee is a private limited company and is engaged in the business of providing wireless services, electronics telecommunication, GSM/GPRS modem.....

Tags : Assessment, Disallowance, Legality



When cash deposits in specified bank notes already included in gross receipts, the same needs to be excluded for the purpose of estimation of profit(04.08.2023)

The assessee is engaged in the business of bore-well drilling, has not filed its return of income for the assessment year 2017-18 within the time allo.....

Tags : Assessment, Additions, Validity



Errors cannot be perpetuated on the name of consistency(17.08.2023)

Aggrieved by the order passed by the learned Commissioner of Income Tax(Appeals), ("CIT(A)") in the case of Mandava Holdings Private Limited ("the ass.....

Tags : Income, Assessment, Disallowance



Depositing unutilized amount in special account is only a procedural matter, non-compliance thereof cannot result in negating deductions claimed under Section 54 of IT Act(20.09.2023)

In the assessment order, the Assessing Officer made addition of Long Term Capital Gain of Rs.90,72,800 upon sale of house property. The assessee has c.....

Tags : Assessment, Deduction, Eligibility



When substantive addition has already been completed, no protective addition can be confirmed(18.08.2023)

Assessee filed return of income declaring income of Rs. 85,626. In the assessment order, the AO has made an addition under Section 68 of the Income Ta.....

Tags : Assessment, Deletion, Legality



Affidavit given by the third party cannot be used against the assessee without affording the opportunity of cross examination(02.08.2023)

The assessee is engaged in the business of manufacturing and trading of PSC sale. The assessee in the year under consideration has purchased a residen.....

Tags : Assessment, Addition, Legality



Refund claim cannot be withheld on mere basis that, a notice has been issued under Section 143(2) of IT Act(27.07.2020)

Present writ petition under Article 226 of the Constitution of India, 1950 seeks mandamus for directing the Respondent to grant refund as determined u.....

Tags : Pending Assessment, Refund, Entitlement



For discharging the initial onus cast by Section 68 of the IT Act, the assessee has to establish identity, credit, worthiness and genuineness of the transaction(19.07.2023)

Present appeal by the Revenue is preferred against the order of the learned CIT(A) pertaining to Assessment Year 2012-13. The solitary grievance of th.....

Tags : Assessment, Deletion, Legality



Gambling tax is payable in respect of freeplay credits(04.09.2023)

The Board, together with Sun International Subsidiaries Grand west and Golden Valley casinos approached the Western Cape High Court for resolution of .....

Tags : Assessment, Gambling tax, Payment



If the reasons for re-opening the assessment are based on incorrect facts, the notice issued for re-opening cannot be sustained(08.08.2023)

The challenge raised in present Writ Petition is to the notice dated 24th March, 2020 that has been issued by the Income Tax Officer under Section 148.....

Tags : Assessment, Notice, Validity



Nursery activities of growing various types of lawns, flower plants and vegetable plants cannot be considered as commercial activity for treating the same as business income(25.08.2023)

The assessee filed return of income for the Assessment Year (A.Y.) 2013-14 showing total income at Rs.1,97,520 alongwith agricultural income at Rs.75,.....

Tags : Assessment, Addition, Legality



Commission paid to Managing Director for services rendered by him as per terms of payment is eligible as deduction under Section 36(1)(ii) of IT Act(05.09.2023)

The only issue to be decided in present appeal is as to whether the learned CIT(A) was justified in confirming the disallowances to Director's commiss.....

Tags : Assessment, Disallowance, Confirmation



Lockdown 4.0 - States/UTs cannot dilute restrictions imposed in MHA guidelines; can only make them stricter based on local level assessment and Health Ministry Guidelines: MHA(18.05.2020)

Union Ministry of Home Affairs (MHA), on 17.05.2020, issued the revised guidelines regarding lockdown restrictions, to contain COVID-19. As the lockdo.....

Tags : Assessment, Restrictions, MHA guidelines



News

Calcutta HC Quashes Re-Assessment Passed Without Application of Mind(04.04.2022)

Calcutta High Court has observed that the re-assessment passed under section 148 of the Income Tax Act, 1961 without the application of mind is not su.....

Tags : Calcutta High Court, section 148 of the Income Tax Act, 1961, Quashment of Re-Assessment



Delhi HC Quashes Reassessment Notice, There Is No Rational Nexus To Believe Escapement Of Income(08.03.2022)

Delhi High Court has nullified the reassessment notice issued under Section 148 of Income Tax Act, 1961 on the grounds that the reason to believe was .....

Tags : Delhi High Court, Section 148, Income Tax Act, 1961, Reassessment Notice



Calcutta HC: Reasons Recorded in 142(1) Notice Not Existing at Issue of Re-Assessment Notice(05.04.2022)

Calcutta High Court has observed that the reasons mentioned in the notice under Section 142(1) and Section 147 of the Income Tax Act, 1961 were not ex.....

Tags : Calcutta High Court, Section 142(1), Section 147 of the Income Tax Act, 1961, re-assessment notice



In the absence of fresh tangible material, the action under Section 147 of the IT Act by the AO is not tenable(20.05.2022)

The case of the assessee has been taken up for scrutiny and assessment order under Section 153A read with 143(3) of the Income Tax Act, 1961 (IT Act) .....

Tags : Assessment, Reopening, Legality



Delhi High Court Quashes Reassessment Order Issued Without Considering Reply Filed by Assessee(07.06.2022)

Delhi High Court has quashed the reassessment order issued by the department under Section 148A(d) of the Income Tax Act, without considering the repl.....

Tags : Delhi High Court, Income Tax Act, 1961, Reassessment



Interest income earned on deposits in the Bank is also in the nature of business income eligible for deduction under Section 80P(2) of IT Act(06.01.2021)

The assessee is a Co-Operative Credit Society and carries on its activities of in providing loans to its members and earns interest income and also ac.....

Tags : Assessment, Deduction, Eligibility



Extension of time for receiving comments on Consultation Paper on 'Regulatory Principles of Tariff Assessment'(11.04.2017)

Telecom Regulatory Authority of India (TRAI) issued a Consultation Paper on 'Regulatory Principles of Tariff Assessment' on 17th February, 2017 inviti.....

Tags : Tariff Assessment, Time, Extension



Person who has been authorized to frame the assessment can only do the same(12.06.2023)

In present case, the assessee has challenged the validity of the assessment framed under Section 158 read with Section 254 of the Income Tax Act, 1961.....

Tags : Assessment, Framing of, Jurisdiction



Receipt of the order passed under Section 263 of the IT Act by the assessee has no relevance for the purpose of counting the period of limitation(07.10.2021)

The Assessing Officer (AO) passed an assessment order under Section 143 (3) of the Income Tax Act ( IT Act) for the assessment year (AY) 2008-¬09 vide.....

Tags : Income, Assessment, Time period



Only forum in which a taxpayer may dispute or object to a decision of an assessment, including additional assessments, is the tax court, unless the high court directs otherwise(24.03.2023)

The Respondent, the Commissioner for the South African Revenue Services (SARS), issued a letter to the appellant, United Manganese of Kalahari (Pty) L.....

Tags : Audit, Assessment, Objections



Bombay HC: Reassessment Notice after 4 Years should have the Sanction Of PCIT(23.01.2023)

Bombay High Court has ruled that issuing a reassessment notice after four years is subject to the approval of the Principal Chief Commissioner of Inco.....

Tags : Bombay High Court, reassessment notice, Principal Chief Commissioner of Income-tax



Penalty cannot be levied under Section 271B of the IT Act for venial technical breach without any mala fide intention(23.06.2023)

Present appeals filed by the assessee are directed against separate but identical orders of the learned Commissioner of Income Tax (Appeals), National.....

Tags : Assessment, Penalty, Legality



Clarification of 'initial assessment year' in Section 80IA (5) of the IT Act(15.02.2016)

The Central Board of Direct Taxes issued a clarification to the ‘initial assessment year’ for the purposes of Section 80IA(5) of the Income Tax Act, 1.....

Tags : Income tax, initial assessment year, deduction claim



SC: In the Absence of Incriminating Material, AO Can’t Make Additions to Completed Assessment(26.04.2023)

Supreme Court has held that in case of completed assessment, if no incriminating material is found during search, the only remedy available to revenue.....

Tags : Supreme Court, Incriminating Material, Completed Assessment, Reassessment



Addition under Section 153A of IT Act, in case of unabated assessment can only be made on the basis of incriminating material found during search(21.09.2023)

In present case, a search action under Section 132(1)(A) of the Income-tax Act, 1961 (IT Act) was carried out in the case of the assessee. Subsequentl.....

Tags : Assessment, Deletion, Legality



ITAT, Kolkata: Limitation for Revisionary Jurisdiction Runs from Assessment Date Order(06.04.2022)

Income Tax Appellate Tribunal, Kolkata has observed that the limitation period for exercising revisionary jurisdiction runs from the date of assessmen.....

Tags : Income Tax Appellate Tribunal, Kolkata, limitation period, revisionary jurisdiction, assessment order, Section 263 of Income Tax Act, 1961



Madras High Court Annuls Assessment Order Solely Based on Data obtained from Web Portal(23.05.2017)

Madras High Court has set aside an assessment order which was solely based on data obtained from Web Portal of Commercial Taxes Department and reitera.....

Tags : Madras High Court, Assessment Order



Penalty can only be levied in cases where concealment of income has been proven(15.03.2022)

Present appeal has been filed challenging the order passed by Delhi Bench of the ITAT ('Tribunal'). The Appellant states that, the charging of interes.....

Tags : Assessment, Penalty, Levy



Bombay HC Upholds Validity of Reassessment Notice Against Maharashtra Minister, Chhagan Chandrakant(16.03.2022)

Bombay High Court has upheld the validity of the reassessment notice issued within 5 hours of receiving information against Maharashtra Minister, Chha.....

Tags : Bombay High Court, Reassessment Notice, Chhagan Chandrakant



Deemed Arm's length price for assessment year 2023-2024(26.06.2023)

In exercise of the powers conferred by the third proviso to sub-section (2) of section 92C of the Income-tax Act, 1961 (43 of 1961)(hereafter referred.....

Tags : Arm's length price, Assessment year



As per Section 250 (5) of IT Act, order of the Commissioner of Income Tax shall be in writing and shall state the points for determination, and the decision thereon and the reason for the decision(07.09.2023)

Present appeal has been filed by the Assessee against order passed by the learned Commissioner of Income Tax (Appeals), under Section 250(6) of the In.....

Tags : Assessment, Adequate Opportunity, Hearing



CBDT Notifies Exception to Faceless Assessment Scheme(07.09.2021)

Central Board of Direct Taxes (CBDT) has notified that Assessment Orders to be passed by National Faceless Assessment Centre (NaFAC) under section 144.....

Tags : Central Board of Direct Taxes, Faceless Assessment Scheme



SC Allows NDTV's Appeal to Quash Income Tax Re-Assessment Notice(06.04.2020)

Supreme Court has allowed the appeal of New Delhi Television Ltd (NDTV) to quash the notice issued by the Income Tax Department seeking to re-open its.....

Tags : Supreme Court, New Delhi Television Ltd, Income Tax Re-Assessment Notice



TRAI Report on effectiveness of TRAI orders and customer perception(07.09.2015)

TRAI has conducted Customer satisfaction survey through independent agencies for the assessment of Quality of Service being provided by the telecom se.....

Tags : Trai, assessment, survey



Madras High Court: Non Co-operation by Assessee Not Ground to Rationalize Assessment(14.06.2019)

Madras High Court has held that the revenue cannot take the defence of non-co-operation of the Assessee during the assessment period to justify the As.....

Tags : Madras High Court, Assessment



Commissioner is not bound by the three-year period of limitation where full amount of tax chargeable was not assessed due to fraud, misrepresentation, non-disclosure of material facts(15.10.2021)

The issue for determination before present Court was whether the High Court correctly held that, there was a sufficiently close causal link that exist.....

Tags : Assessment, Income, Additions



SC: Make EIA Mandatory for Urban Development(11.01.2023)

Supreme Court while issuing directions to preserve the heritage of 'Corbusier' Chandigarh, has recommended Centre as well as the State to make necessa.....

Tags : Supreme Court, Environmental Impact Assessment, Urban Development



Delhi HC: Search, Re-Assessment Proceedings in Name of a Non-Existent Entity is Invalid(04.08.2017)

Delhi High Court has held that search warrant and notice for re-assessment proceedings issued u/s 148 of Income Tax Act, 1961 is invalid if the same w.....

Tags : Delhi High Court, Search, Re-Assessment Proceedings



Bombay HC: After 4 Years of Expiry of Relevant Assessment Year, Only PCIT Can Accord Reassessment(15.04.2022)

Bombay High Court bench has held that after four years of expiry from the end of the relevant assessment year, only the Principal Chief Commissioner o.....

Tags : Bombay High Court, Re-Assessment



Disallowance of deduction under Section 80IB(10) of IT Act, in respect of interest income should be restricted to net interest and not gross interest(04.05.2020)

In facts of present case, the Assessee in the present case is a Company, which is engaged in the business of Builders and Property Developers. The ret.....

Tags : Assessment, Disallowance, Deduction



Commission earned by NRI for services rendered outside India could not be deemed to be income which had either accrued or arisen in India(12.07.2023)

The bunch of appeals filed by the Revenue are directed against the orders passed by the National Faceless Appeal Centre (NFAC), arising out of the ord.....

Tags : Assessment, foreign commission, Deletion



ITAT, Delhi: Entire Reassessment Proceedings Invalid if Assessee Precluded from Raising Objections(22.03.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has ruled that the entire reassessment proceedings invalid, if assessee precluded from raising objection a.....

Tags : Income Tax Appellate Tribunal, Reassessment Proceedings



Mad HC: Personal Hearing Must be Granted in All Matters Prior to Finalisation of Assessment(09.03.2023)

Madras High Court has held that personal hearings shall be granted in all matters prior to the finalization of assessments, except where the stand of .....

Tags : Madras High Court, Assessment, Personal Hearing



ITAT, Delhi Declares 'Invalid' Block Assessment Without Valid Search Warrant(12.06.2017)

ITAT, Delhi has held that block assessment u/ss 153A/153C of Income Tax without serving a proper and valid search warrant is invalid.

Tags : ITAT, Delhi, Block Assessment



In the absence of any new tangible material, the case could not be reopened on mere change of opinion(23.06.2023)

Appeals by assessee for Assessment Years (AY) 1997-98 and 2001-02 arises out of the separate orders of learned first appellate authority. The sole sub.....

Tags : Addition, Reassessment, Legality



Gujarat High Court Sets Aside Reassessment Notice Issued to Amalgamated Company(13.01.2020)

Gujarat High Court has set aside Reassessment Notice issued to the amalgamated company which ceased to exist after the approval of the composite schem.....

Tags : Gujarat High Court, Reassessment



ITAT: Income Tax Addition Cannot be based on Conjectures and Surmises(20.05.2022)

Income Tax Appellate Tribunal (ITAT), Delhi bench, while quashing an assessment under the Income Tax Act, 1961, has held that the income tax addition .....

Tags : ITAT, Assessment



ITAT: Amendments to Income Tax Deduction for Contributions to ESI and PF Are Not Retrospective(12.05.2022)

Income Tax Appellate Tribunal, Jaipur has ruled that amended provisions relating to income tax deduction for ESI and PF contributions would be effecti.....

Tags : Income Tax Appellate Tribunal, 2021-22, retrospective, assessment year



Central Board of Indirect Taxes and Customs Notifies Customs Tariff Amendment Rules, 2021(04.02.2021)

Central Board of Indirect Taxes and Customs (CBIC) has notified Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dump.....

Tags : Central Board of Indirect Taxes and Customs, Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Amendment Rules, 2021



Mere rejection of the explanation does not entail levy of penalty under Section 271(1)(c) of the IT Act(01.06.2021)

The Appellant is an individual engaged in the business of builders and land promoters. Present is an appeal filed by the assessee directed against the.....

Tags : Assessment, Penalty, Validity



Assessing Officer cannot reopen assessment on erroneous assumptions(15.09.2015)

To reopen a concluded income tax assessment for escaped income, a reason to suspect cannot be a reason to believe, which must be rational and bear a d.....

Tags : Tax, assessment, escaped income, belief



In absence of an available market, measure of loss is difference between contract rate and what was or ought reasonably to have been earned from employment of vessel under shorter charterparties(28.06.2017)

Present appeal concerns assessment of damages arising out of repudiation of a charterparty by charterers of a cruise ship called New Flamenco (“vessel.....

Tags : Award, Damages, Assessment



ITAT Delhi: Re-Assessment Without Consent of Designated Authority is Without Jurisdiction(19.06.2019)

Income Tax Appellate Tribunal (ITAT) Delhi has observed that an assessment cannot be re-opened without the approval of the designated authority under .....

Tags : ITAT Delhi, Re-assessment



Delhi HC 'No' to Re-assessment Under IT Act on Sole Basis of Information From Investigation Wing(02.06.2017)

Delhi High Court has held that re-assessment under Sections 147/148 of Income Tax Act cannot be made only on basis of information received from Invest.....

Tags : Delhi High Court , re-assessment



Madras HC issues Notice on Plea Challenging Constitutional Validity of Faceless Assessment Scheme(28.10.2021)

Madras High Court has issued the notice to the Centre on plea challenging the constitutional validity of the Faceless Assessment Scheme.

Tags : Madras High Court, Constitutional Validity of Faceless Assessment Scheme



CBDT Amends IT Rules to Ease Authentication of Electronic Records in Faceless Assessment Proceedings(08.09.2021)

Central Board of Direct Taxes has amended Income-tax Rules, 1962 (‘the Rules’) vide notification no G.S.R. 616(E) dated 6th September 2021 for easing .....

Tags : Central Board of Direct Taxes, Authentication of Electronic Records in Faceless Assessment Proceedings



Calcutta HC Allows Batch of Writ Petitions Seeking Quashing of Re-assessment Notices(18.01.2022)

Calcutta High Court has allowed a batch of writ petitions seeking quashing of impugned re-assessment notices issued post March 31, 2021 by the concern.....

Tags : Calcutta High Court, Quashing of Re-assessment Notices



SC: Non-Service of AO Inconsequential if Assessee Otherwise Had Knowledge About Them(18.03.2023)

Supreme Court has observed that Attachment order will not be vitiated merely because assessment orders (AO) were not served on the assessee, if the as.....

Tags : Supreme Court, Assessment Order, Assessee



SC Issues Notice on Plea Seeking Relief of Re-Assessment/Promotion of ICSE Students(19.08.2020)

Supreme Court has issued notice in a plea seeking for a direction to Indian School Certificate Examinations Board (ICSE), to provide an opportunity of.....

Tags : Supreme Court, Re-Assessment/Promotion of ICSE Students



If the employees' contribution to PF and ESI has been paid beyond the time prescribed under the relevant Act, then same is not allowable under Section 43B of the IT Act(30.11.2022)

The assessee is a partnership firm engaged in the business of manufacturing of plastic products. The Appellant had filed its return of income for asse.....

Tags : Assessment, Addition, Disallowance



Gujarat HC Sets Aside Income Re-Assessment Notice for Taxing Remuneration from Capital Account(02.02.2022)

Gujarat High Court has set aside the income re-assessment notice issued by the Income Tax Department to the partner of a firm, holding that there is n.....

Tags : Gujarat High Court, Re-Assessment Notice for Taxing Remuneration



CBDT Releases ITR-1 Validation Rules for AY 2022-23(21.04.2022)

Central Board of Direct Taxes has released Income Tax Return -1 Validation Rules for Assessment Year 2022-23. The Rules include: List of category defe.....

Tags : Central Board of Direct Taxes, ITR-1, Assessment Year 2022-23



ITAT, Mumbai: Reasons Mentioned in Notice for Re-Assessment Cannot be Improved Later(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the reasons specified in the re-assessment notice under section 148 of the Income Tax Act, 196.....

Tags : Income Tax Appellate Tribunal, section 148 of the Income Tax Act, 1961, re-assessment notice



ITAT, Kolkata Quashes Re-Assessment Proceedings Against Price Waterhouse & Co.(13.02.2020)

Income Tax Appellate Tribunal (ITAT), Kolkata has quashed the re-assessment proceedings against Price Waterhouse & Co. and held that to reopen the ass.....

Tags : Income Tax Appellate Tribunal, Re-Assessment Proceedings Against Price Waterhouse & Co.



Re-Assessment Can’t Be Done Merely Because Some Aspects of Deduction Claim Not Examined: Gujarat HC(26.09.2018)

Gujarat High Court has held that Re-Assessment under Section 147/ 148 of the Income Tax Act, 1961 cannot be re-opened merely on the ground that some a.....

Tags : Gujarat High Court, Assessment, Income Tax



ITAT: Prima Facie Belief That There is Escape of Income is Sufficient Proof to Re-Open Assessment(23.06.2022)

Income Tax Appellate Tribunal (ITAT), Pune Bench has held that prima facie belief that there is the escape of income is sufficient proof to initiate r.....

Tags : ITAT, Income Tax Act, 1961, Reassessment



Power of reopening of the assessment cannot be exercised for solely to verify the claim(10.01.2022)

Assessee is an individual who is stated to be having income from business, house property, capital gains and other sources. Assessee had filed his ori.....

Tags : Assessment, Notices, Legality



Notice under Section 148 of the IT Act against a dead person is null and void(13.06.2022)

By way of the present writ petition, Petitioner assails the impugned notices in relation to assessment year 2013-14 under Section 148 of the Income Ta.....

Tags : Assessment, Notice, Validity



CBDT Notifies E-Assessment of Income Escaping Assessment Scheme 2022(31.03.2022)

Central Board of Direct Taxes (CBDT) has notified that the e-Assessment of Income Escaping Assessment Scheme, 2022 and Faceless Jurisdiction of Income.....

Tags : Central Board of Direct Taxes, CBDT, the e-Assessment, Income Escaping Assessment Scheme, 2022, artificial intelligence



CBIC Issues Advisory for Anonymised Escalation Mechanism Under Faceless Assessment(06.07.2022)

Central Board of Indirect Taxes and Customs (CBIC) has issued an advisory for Anonymised Escalation Mechanism under Faceless Assessment.

Tags : CBIC, Faceless Assessment



If an assessee invests full consideration from sale of original asset for purchasing or constructing another residential house, then assessee is entitled for 100% exemption from capital gain tax(18.01.2021)

Present appeal filed by the Revenue is directed against order of the learned Commissioner of Income Tax (Appeals). The learned CIT(A) held that, asses.....

Tags : Assessment, Exemption, Legality



When assessee is a capital service provider, there is no necessity to provide negative working capital adjustment(09.08.2021)

Two issues raised in present case is namely-- (i) Assessee's prayer regarding inclusion of Crystal Voxx Limited in the final list of comparable compan.....

Tags : Assessment, List, Comparable companies



Delhi High Court Quashes Notice for Re-Assessment Against Bharati Infratel(22.01.2019)

Delhi High Court has quashed Income Tax Department’s Notice for Re-opening of Assessment against Bharati Infratel Limited.

Tags : Delhi High Court, Bharati Infratel, Re-Assessment



SC: Reasons Why Candidate Can’t Pursue Course Must be Made in Disability Assessment Report(25.09.2023)

Supreme Court has observed that Disability Assessment Report must have a cogent reasoning as to how such candidates will be unable to pursue the medic.....

Tags : Supreme Court, Disability Assessment Report, Medical Course



Once a company is dissolved, it becomes a non-existent party and therefore, no action can be brought in its name(25.03.2022)

The assessee-company was trading in shares. The case of the assessee was selected for scrutiny assessment and notice under section 143(2) of the Incom.....

Tags : Assessment, Additions, Legality



If loan or advance is given by Company to a shareholder for further consideration which is beneficial to the Company, such advance or loan cannot be said to be deemed dividend(23.04.2021)

Present appeal filed by the assessee is directed against the order of learned Commissioner of Income Tax (Appeals). The grounds raised by the assessee.....

Tags : Assessment, Additions, Legality



Initiation of proactive steps after the assessment of financial markets(27.09.2018)

Based on its assessment of the financial markets, the Reserve Bank of India has taken several proactive steps in the last few days. The Reserve Bank h.....

Tags : Proactive steps, Initiation, assessment, Financial markets



Non-consideration of the decision of High Court or of Supreme Court is a 'mistake apparent from record', which could be rectified under Section 254(2) of the IT Act(14.12.2022)

By way of present Miscellaneous Applications under Section 254(2) of the Income Tax Act, 1961 ( IT Act), the assessee seeks recall of the common order.....

Tags : Assessment, Common order, Recall



SC to Ministry of Law: Conduct Judicial Impact Assessment of All Tribunals at the Earliest(23.03.2023)

Supreme Court has directed Ministry of Law & Justice to conduct "Judicial Impact Assessment" of tribunals as per its directions in Rojer Mathew v. Sou.....

Tags : Supreme Court, Ministry of Law, Judicial Impact Assessment, Tribunals



Supreme Court Bans Self-Assessment of Telco’s AGR(19.03.2020)

Supreme Court has banned any further reassessment or self-assessment of telecommunication companies’ adjusted gross revenue (AGR) dues, dubbing attemp.....

Tags : Supreme Cout, Self-Assessment of Telcos' AGR



SC: Officer Who Did Assessment Could Only Undertake Re-Assessment u/s 28 (4)(10.03.2021)

Supreme Court has observed that an officer, who did the assessment, could only undertake re-assessment under Section 28 (4) of the Customs Act, 1962.

Tags : Supreme Court, Re-Assessment



ITAT, Mumbai: Reassessment Proceeding Cannot be Held Time Barred When Amendment Increases Limitation(25.02.2022)

Income Tax Appellate Tribunal, Mumbai has held that reassessment proceeding cannot be held time barred when an amendment increasing limitation of time.....

Tags : Income Tax Appellate Tribunal, Reassessment Proceeding



Karnataka HC Extends Stay on Publication of Final Notification Until Further Orders(07.09.2020)

Karnataka High Court has extended the stay on the publication of the Final Notification based on the Draft Environment Impact Assessment (EIA) notific.....

Tags : Karnataka High Court, Draft Environment Impact Assessment



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