https://taxguru.in/income-tax/assessment-declared-invalid-due-service-notice-wrong-address.html clipped from: https://taxguru.in/income-tax/assessment-declared-invalid-due-service-notice-wrong-address.html Dhanottam Vasant Lonkar Vs ITO (ITAT Pune) Conclusion: Notice u/s.143(2) was issued at a wrong/non-existing address and this mistake having been accepted by
Category: Income Tax
*******Reassessment u/s. 148A(b) initiated within prescribed time limit u/s. 149(1) is valid
lipped from: https://taxguru.in/income-tax/reassessment-u-s-148a-b-initiated-prescribed-time-limit-u-s-149-1-valid.html Chandra Shekhar Vs PCIT (Patna High Court) Patna High Court held that reassessment proceedings under section 148A(b) of the Income Tax Act is
*****Section 263 Revision Unjustified as Assessment Not Erroneous or Prejudicial to Revenue
lipped from: https://taxguru.in/income-tax/revision-u-s-263-justified-assessment-order-erroneous-prejudicial-interest-revenue.html Chandrakant Vallabhbhai Koladia Vs PCIT (ITAT Ahmedabad) ITAT Ahmedabad held that revisionary proceedings under section 263 of the Income Tax Act not invocable
*****ITAT Delhi quashes reassessment order as Section 148 notice sent to wrong email ID
Clipped from: https://taxguru.in/income-tax/itat-delhi-quashes-reassessment-order-section-148-notice-wrong-email-id.html Nitin Jain Vs ACIT (ITAT Delhi) Income Tax Appellate Tribunal (ITAT), Delhi, has allowed the appeal of Nitin Jain, quashing the reassessment order
*******Amendment in Section 143(1) of Income Tax Act, 1961
Clipped from: https://taxguru.in/income-tax/amendment-section-143-1-income-tax-1961.html Summary: The Indian government has introduced amendments to Section 143(1) of the Income Tax Act, 1961, as part of its efforts to combat tax
*****Delhi HC Quashes Faceless Tax Assessment for Denying Personal Hearing
Clipped from: https://taxguru.in/income-tax/delhi-hc-quashes-faceless-tax-assessment-denying-personal-hearing.html Sanjay Aggarwal Vs National Faceless Assessment Centre (Delhi High Court) Delhi High Court has set aside an assessment order issued by the National
*******Tax Loss Harvesting in FY 2025-26: A Smart Way to Reduce Your Tax Liability
Clipped from: https://taxguru.in/income-tax/tax-loss-harvesting-fy-2025-26-a-smart-reduce-tax-liability.html Tax loss harvesting is a tax planning strategy that allows taxpayers, especially investors, to lower their capital gains tax liability by selling securities at a loss.
Income Tax starts issuing notices where income has escaped assessment [2] with particular reference to bogus bills issued [ and consequently false ITC availed] Courtesy Business Standard
With due respect to BS — with effect from 1.4.2021 — as per substituted section 149– limitation period is 3 years in normal cases and
*******Section 151A: JAO Lacks Jurisdiction to Issue Section 148 Income Tax Notices
Clipped from: https://taxguru.in/income-tax/issuance-notice-u-s-148-jurisdictional-assessing-officer-jurisdiction-invalid.html Sharda Devi Chhajer Vs ITO (Rajasthan High Court) Rajasthan High Court held that, in terms of section 151A of the Income Tax Act,
*******Delhi HC Quashes Faceless Assessment for Lack of SCN cum Draft Order
Clipped from: https://taxguru.in/income-tax/delhi-hc-quashes-faceless-assessment-lack-scn-cum-draft-assessment-order.html Akashganga Infraventures India Limited Vs National Faceless Assessment Centre (Delhi High Court) In the case of Akashganga Infraventures India Limited vs. National Faceless Assessment
*******Faceless Assessment Invalid if Draft Order not served Before Finalization: Gujarat HC
Clipped from: https://taxguru.in/income-tax/faceless-assessment-invalid-draft-order-served-finalization-gujarat-hc.html Kottex Industries Private Limited Vs National Faceless Assessment Centre (Gujarat High Court) In Kottex Industries Private Limited vs. National Faceless Assessment Centre, the Gujarat
*******Bombay HC Quashes Reassessment Citing Change of Opinion, No Failure to Disclose
Clipped from: https://www.taxscan.in/bombay-hc-quashes-income-tax-reassessment-over-change-of-opinion-and-no-failure-to-disclose-facts/504935/ The High Court of Bombay, quashed an income tax reassessment proceedings initiated against the assessee for Assessment Year(AY) 2014–15, holding that the reopening was
*******No Tax on Redevelopment Flats u/s 56(2)(x) of Income Tax Act: ITAT
Clipped from: https://www.taxscan.in/no-tax-on-redevelopment-flats-u-s-x-of-income-tax-act-itat/504748/?utm_source=signinbutton&utm_medium=txn&utm_campaign=checkoutsigninbtn Receiving a new flat in place of an old one is a case of ‘extinguishment’ of property rights rather than an income-generating transaction
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