Category: Income Tax

Reopening conclusion that assessee was “Non-Filer” despite assessee clearly stating in reply that he had filed ITR was non-application of mind – High Court In a recent judgment, Hon’ble High Court set aside reopening notice holding that conclusion arrived by the Assessing Officer that the assessee was a …

High Court declined to allow production of physical documents by in Faceless Assessment simply because they were voluminous In a recent judgment, Hon’ble High Court has declined Petitioner appeal to allow him production of documents by physical mode in Faceless Assessment on the ground that they were voluminous. …

The prima facie satisfaction u/s 148 cannot be stretched to a non-existing information or incorrect information – ITAT In a Recent judgment, ITAT Hyderabad has held that the prima facie information considered by the AO for issue of notice u/s 148 cannot be stretched to a non-existing information …

Merely because assessee had declared sales for only one month, the same cannot be treated as bogus on the basis of suspicion. In a recent judgment, ITAT Agra has held that merely because the assessee had declared sales for only one month during the year, the same cannot …

ITAT deleted addition as the method of accounting had been accepted by the department in earlier years and the entire exercise was revenue neutral In a recent judgment, ITAT Delhi deleted addition made as the method of accounting had been accepted by the department in earlier years and …

In case of admitted income, it is not for the Assessing Officer to establish the evidentiary basis thereof – High Court In a recent judgment, the Hon’ble High Court has held that in the case of admitted income, it is not for the Assessing Officer to establish the …

Government of India and France sign the Amending Protocol to amend the India-France Double Taxation Avoidance Convention CBT has stated that during the recent visit of the President of France to India, the Government of the Republic of India and the Government of the French Republic have signed …

Once cash sales are accepted, section 68/69A cannot be invoked merely for violation of RBI guidelines for receipt of SBNs after demonetisation– ITAT In a recent judgment, ITAT Ahmedabad has held that once cash sales recorded in books are accepted, section 68/69A cannot be invoked merely for violation …

Payment made on behalf of the shareholder and debited to his deposit account having credit balance not deemed dividend u/s 2(22)(e) – ITAT In a recent judgment, ITAT Ahmedabad has held that payment made by the company on behalf of the shareholder and debited to his deposit account …

Assesssing Officer can’t refer decision to initiate levy of Penalty u/s 271D to Superior Officer unless he himself arrives at a finding of a violation In a recent judgment Hon’ble Supreme Court has dismissed SLP of the Revenue against the High Court judgment holding that Assesssing Officer can’t …