Day: December 22, 2024

Clipped from: https://database.taxsutra.com/articles/d271ed6f303e1b59d7025ff6df08a5/expert_article Background Re-assessment provisions under the Income Tax Act, 1961 (the Act) were significantly modified by the Finance Act 2021, effective from 1 April

Clipped from: https://www.metalegal.in/post/2024-amendments-to-income-tax-reassessment-procedures Introduction The reassessment provisions under the Income-tax Act, 1961 (‘IT Act’) have been a focal point of legislative reform and judicial scrutiny. The

Clipped from: https://www.taxscan.in/notices-for-appeal-sent-to-incorrect-email-id-itat-restores-matter-to-cita/468695/ The ITAT decided to restore the appeal for a fresh hearing, instructing the CIT(A) to issue notices to the correct email address By Sneha

Clipped from: https://taxguru.in/income-tax/initiation-proceedings-u-s-148-based-material-search-invalid-itat-delhi.html Sheel Trading Company Vs ACIT (ITAT Delhi) ITAT Delhi held that based on incriminating materials unearthed during the course of search, proceedings under

https://taxguru.in/income-tax/reopening-bad-in-law-ao-unaware-exact-nature-income-escaped-assessment.html Clipped from: https://taxguru.in/income-tax/reopening-bad-in-law-ao-unaware-exact-nature-income-escaped-assessment.html ITO Vs Magnetic Properties Exim Pvt. Ltd. (ITAT Mumbai) ITAT Mumbai held that in case of reopening of assessment AO needs to

Clipped from: https://taxguru.in/income-tax/adoption-section-50c-justified-difference-sale-consideration-sale-deed-stamp-adopted-officer.html Ranganath Ashok Meharwade Vs ITO (ITAT Bangalore) ITAT Bangalore held that once the sale consideration mentioned in the sale deed differs from the

Clipped from: https://taxguru.in/income-tax/disallowance-deduction-u-s-54f-due-delay-completion-construction-justifiable.html Kothari Sanjay Manilal Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad held that delay in the completion of construction of the house will not be