https://taxguru.in/income-tax/validity-reopening-assessment-beyond-four-year-limitation-period-hinges-assessees-full-disclosure.html Prime Developers Vs ACIT (ITAT Mumbai) Reopening of assessment beyond four-year limitation period invalid if AO fails to establish failure on the part of
Category: Income Tax
👌👌👌👌👌👌👌Mere change of opinion cannot be a ground for reopening of assessment
https://taxguru.in/income-tax/mere-change-opinion-ground-reopening-assessment.html Konark Life Spaces Vs ACIT (Bombay High Court) The Hon’ble Bombay High Court in Konark Life Spaces v. Assistant Commissioner of Income -Tax and Ors.
👌👌👌👌👌👌👌No further addition if no addition on the grounds for re-opening of assessment
https://taxguru.in/income-tax/addition-addition-grounds-re-opening-assessment.html PCIT CENTRAL -1 Vs Naveen Infradevelopers & Engineers Pvt Ltd (Delhi High Court) In PCIT CENTRAL-1 Vs Naveen Infradevelopers & Engineers Pvt Ltd, the Delhi
👌👌👌👌👌👌👌Absence of Faceless Assessment Invalidates Section 148 notice: P&H HC
https://taxguru.in/income-tax/absence-faceless-assessment-invalidates-section-148-notice-ph-hc.html Vipin Kumar Gupta Vs ITO (Punjab and Haryana High Court) The Punjab and Haryana High Court, in the case of Vipin Kumar Gupta vs. ITO,
👌👌👌👌👌👌👌Reopening assessment u/s. 147 void-ab-initio as issue already dealt in original assessment
https://taxguru.in/income-tax/reopening-assessment-u-s-147-void-ab-initio-issue-dealt-original-assessment.html DCIT Vs Cadila Pharmaceuticals Limited (ITAT Ahmedabad) ITAT Ahmedabad held that reopening of assessment u/s. 147 on the issue which is already dealt in
👌👌👌👌👌👌👌Reassessment Proceeding initiated after 6 years is not valid; Department must prove dispatch of notice
https://taxguru.in/income-tax/reassessment-proceeding-initiated-after-6-years-is-not-valid-department-must-prove-dispatch-of-notice.html M/s Ardent Steel Limited, Vs ACIT (Chhattisgarh High Court) A focused glance of the Section 149 provision would show that the maximum time limit
👌👌👌👌👌👌👌Reassessment after 4 years not valid If Assessee Made Full & True Disclosure during original assessment
https://taxguru.in/income-tax/reassessment-4-years-valid-assessee-full-true-disclosure-original-assessment.html Ranjana Aggarwal Vs ITO (ITAT Delhi) When the original assessment is completed u/s 143(3) and the reassessment proceedings have been initiated after a period
👌👌👌👌👌👌👌Reassessment order quashed as mandatory requirement of notice u/s. 143(2) not complied
https://taxguru.in/income-tax/reassessment-order-quashed-mandatory-requirement-notice-u-s-143-2-complied.html Anand Sawroop Vs ITO (ITAT Chandigarh) ITAT Chandigarh held that reassessment order under section 147 of the Income Tax Act cannot be passed without
👌👌👌👌👌👌👌Calcutta HC Stays Section 148 Notice in Anup Kumar Case
https://taxguru.in/income-tax/calcutta-hc-stays-section-148-notice-anup-kumar-case.html Anup Kumar Agarwal Vs Union of India & Ors. (Calcutta High Court) In the case of Anup Kumar Agarwal Vs. Union of India & Ors., the
👌👌👌👌👌👌👌Rajasthan HC Quashes Reassessment Order in Search Case
https://taxguru.in/income-tax/rajasthan-hc-quashes-reassessment-order-in-search-case.html Clipped from: https://taxguru.in/income-tax/rajasthan-hc-quashes-reassessment-order-in-search-case.html Shiv Vegpro Private Limited Vs Deputy / Assistant Commissioner Of Income Tax (Rajasthan High Court) In the case of Shiv Vegpro Private Limited
👌👌👌👌👌December 2024 Tax Compliance Deadlines for Income Tax and GST
Clipped from: https://taxguru.in/goods-and-service-tax/statutory-tax-compliance-tracker.html The tax compliance calendar for December 2024 outlines crucial deadlines under the Income Tax Act, 1961, and GST regulations. Key income tax deadlines
👌👌👌👌👌ITAT deletes addition on alleged Bogus LTCG due to procedural lapses and denial of cross-examination
Clipped from: https://www.taxscan.in/itat-deletes-addition-on-alleged-bogus-ltcg-due-to-procedural-lapses-and-denial-of-cross-examination-rights/460725/ In a recent ruling, the Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the additions related to alleged bogus
आवश्यक 👌👌👌👌👌Cost Inflation Index (CII): Meaning, Table, Calculation – IndiaFilings
Clipped from: https://www.indiafilings.com/learn/cost-inflation-index/ Last updated: September 16th, 2024 12:48 PM “The Cost Inflation Index (CII) in India for the financial year 2024-25 is 363.”The Cost Inflation
👌👌👌👌👌👌👌Are Your Advance Tax Payments on Course? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/are-your-advance-tax-payments-on-course/article68926896.ece With the December 15 deadline fast approaching, a lowdown on advance tax quarterly payments December 15, the deadline for payment of the next
👌👌👌👌👌👌👌No Section 54 Exemption for Plywood Structures: Delhi HC
https://taxguru.in/income-tax/exemption-u-s-54-admissible-structure-putting-plywood-sheets-delhi-hc.html Clipped from: https://taxguru.in/income-tax/exemption-u-s-54-admissible-structure-putting-plywood-sheets-delhi-hc.html Sandeep Hooda Vs PCIT (Delhi High Court) Delhi High Court held that putting together a structure of plywood sheets cannot be construed
Editorial-‘Personal’ trends in income tax – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/personal-trends-in-income-tax/article68924069.ece Agriculture income and the super-rich should be taxed The Income Tax Department of the Central Board of Direct Taxes (CBDT) released the Time
👌👌👌Personal Income tax collections bolster the overall tax revenue growth in H1 FY25 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/data-stories/data-focus/personal-income-tax-collections-bolster-the-overall-tax-revenue-growth-in-h1-fy25/article68918562.ece Analysis of tax revenues during April-September 2024 from CGA shows that total tax revenue (gross) grew at 12 per cent year on year
👌👌👌👌👌👌👌Reassessment notice u/s. 148 being barred by limitation is liable to be quashed: ITAT Mumbai
Clipped from: https://taxguru.in/income-tax/reassessment-notice-u-s-148-barred-limitation-liable-quashed-itat-mumbai.html ITO Vs Pushpak Realities Pvt. Ltd. (ITAT Mumbai) ITAT Mumbai held that reassessment notice issued under section 148 of the Income Tax Act
👌👌👌👌👌👌👌ITAT Remands to CIT(A) for Assessee to Justify Rs. 51.20 Lacs Credit
lipped from: https://www.taxscan.in/itat-remands-case-to-cita-for-reassessment-allowing-assessee-another-opportunity-to-substantiate-rs-51-20-lacs-cash-credit/456231/ ITAT Remands Case to CIT(A) for Reassessment, Allowing Assessee Another Opportunity to Substantiate Rs. 51.20 Lacs Cash Credit [Read Order] The ITAT’s decision
👌👌👌👌👌👌👌Cost Inflation Index (CII): Meaning, Table, Calculation – IndiaFilings
Clipped from: https://www.indiafilings.com/learn/cost-inflation-index/ Last updated: September 16th, 2024 12:48 PM “The Cost Inflation Index (CII) in India for the financial year 2024-25 is 363.”The Cost Inflation
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