Clipped from: https://taxguru.in/income-tax/reassessment-quashed-section-147-mandatory-section-153c.html Somnath Ramdas Jadhav Vs ITO (ITAT Pune) Information Emerged During Search Mandates Action u/s 153C, Not u/s 147: Pune ITAT Holds Reopening Invalid—
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Assessment under s.153A invalid where third-party s.132(4) statement not routed via mandatory s.153C procedure safeguards–TMI
Assessment under s.153A invalid where third-party s.132(4) statement not routed via mandatory s.153C procedure safeguards 14. Case-Laws – AT : ITAT held that the assessment framed
ITAT: 143(1) intimation merges into 143(3) assessment; CPC adjustment invalid, JAO to rectify under 154–TMI
The ITAT held that an intimation u/s 143(1) is a summary assessment confined to arithmetical and apparent errors, and once scrutiny is initiated and completed
Section 153A Assessment Based Solely on Documents Seized from Third Party Invalid: ITAT Delhi
Clipped from: https://taxguru.in/income-tax/section-153a-assessment-based-solely-documents-seized-party-invalid-itat-delhi.html Kiran Mahana Vs DCIT (ITAT Delhi) No Incriminating Material Found on Assessee—153A Assessment Based Solely on Documents Seized from Third Party Invalid; Proceedings
Reopening of assessment cannot be based on change of opinion
Clipped from: https://taxguru.in/income-tax/reopening-assessment-based-change-opinion.html Jamsetjee Jejeebhoy Charity Fund Vs ITO (Exemption) (Bombay High Court) Bombay High Court held that reopening of assessment proceedings on the basis of change
Information from Insolvency Professionals is Exempt Under RTI Act: IBBI [Read Notification]
Clipped from: https://www.taxscan.in/top-stories/information-from-insolvency-professionals-is-exempt-under-rti-act-ibbi-1438411?TRN300=svBWzlCdCaDqKvaWdgFMSkWWAszdgDMbvaGDWFqXwZGMEuFcIMcBjIdnKMcaSx&LKD333=3214738 Insolvency Professionals are legally obligated to maintain confidentiality and provide information to the IBBI in a relationship of trust and reliance The Insolvency
Why taxpayers are searching more about the Income Tax Department
Clipped from: https://www.financialexpress.com/money/google-trends-why-taxpayers-are-searching-more-about-the-income-tax-department-4058056/ ‘Income Tax Department’ has emerged as one of the most searched terms on Google Trends as over 1 crore taxpayers are still waiting
Large or frequent bank deposits can flag mismatches in income profiles: Expert flags what can trigger tax scrutiny – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/large-or-frequent-bank-deposits-can-flag-mismatches-in-income-profiles-expert-flags-what-can-trigger-tax-scrutiny-503299-2025-11-22 From cash deposits to credit card payments, several common transactions are now being closely monitored by the tax department. With advanced tracking systems
Inherited property, gold or shares? Here’s when you’ll actually pay tax in India – No, India has no death tax | The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/inherited-property-gold-or-shares-heres-when-youll-actually-pay-tax-in-india/slideshow/125605972.cms 1/9 No, India has no death tax Inheritance in India is completely tax-free since there is no inheritance tax, estate duty, or death
Can seniors evict their children even after years of delay? HC says yes https://mybs.in/2erj0Di Download the BS App https://mybs.in/apps for more insights.
WhatsApp Chat Between Buyer’s Son and Accountant Has No Evidentiary Value Without 65B Certificate: ITAT deletes S.69A Addition [Read Order]
Clipped from: https://www.taxscan.in/top-stories/whatsapp-chat-between-buyers-son-and-accountant-has-no-evidentiary-value-without-b-certificate-itat-deletes-s-a-addition-1438176?TRN300=sVBwZRCDcAuMBvAEbUZMcbgWACJDgdMKeAEbdJRHwJHMeDfSYMcbjYUqkMsAsX&LKD333=3208523 The Tribunal affirmed that no corroborative evidence of unaccounted cash was found and upheld the deletion of the ₹ 3.16 crore addition. The
Unexplained Income Addition Deleted for Properly Documented Gifts from Relatives
Clipped from: https://taxguru.in/income-tax/unexplained-income-addition-deleted-properly-documented-gifts-relatives.html Rajneesh Narula Vs DCIT (ITAT Chandigarh) In the case of Rajneesh Narula Vs DCIT (ITAT Chandigarh) for the assessment year 2017-18, the assessee appealed
ITAT Delhi quashes reassessment Due to Unsigned Section 151 Approval
Clipped from: https://taxguru.in/income-tax/itat-delhi-quashes-reassessment-due-unsigned-section-151-approval.html Space Kraft Infrastructure Private Limited Vs ITO (ITAT Delhi) The assessee appealed against the order dated 30.08.2025 of the Commissioner of Income Tax
SBI confident of 3% NIM even if RBI cuts rate next week: Chairman Setty https://mybs.in/2erj072 Download the BS App https://mybs.in/apps for more insights.
H-1B scam: Chennai okayed 220,000 visas against 85k US cap, says economist https://mybs.in/2erj09H Download the BS App https://mybs.in/apps for more insights.
Another Deloitte report accused of AI-made citations, this time in Canada https://mybs.in/2erj09d Download the BS App https://mybs.in/apps for more insights.