Category: Income Tax

Order u/s 263 was bad as CIT did not specify how he arrived at figure of excess depreciation allegedly claimed by the assessee In a recent order, Hon’ble Supreme Court has dismissed SLP against the order of the Hon’ble Bombay High Court upholding the ITAT that CIT did …

Limitation Period to pass revisionary order u/s 263 stood extended by TOLA 2020 In a recent judgment, Hon’ble Orissa High Court has upheld that limitation Period to pass revisionary order u/s 263 stood extended by TOLA 2020. Competence of the Legislature through Parliament to relax provisions in earlier …

Certificate of identity issued under Transgender Persons (Protection of Rights) Act, 2019 shall be a valid proof for PAN Card Application – Government tells Supreme Court In April 2018 CBDT had amended Form 49 and Form 49AA Application for PAN Card by adding option of selecting “Transgender” along …

Order passed u/s 148A(d) set aside as personal hearing was not given to submit objections In a recent judgment, Hon’ble Madras High Court has set aside the order passed u/s 148A(d) and notice u/s 148A for not providing opportunity of personal hearing to submit his objections to reopening. …

Section 263 makes it incumbent to the Pr. CIT to conduct enquiry. In a recent judgment, Hon’ble High Court of Chhattisgarh has held that Section 263 makes it incumbent to the Pr. CIT to conduct enquiry. The reasons for satisfaction or non-satisfaction are required to be recorded. ABCAUS …

Section 263 do not give unfettered power to PCIT to revise each and every order – ITAT In a recent judgment, ITAT Delhi has held that section 263 of the act does not give unfettered power to PCIT to revise each and every order to re-examine the issues …

When assessee himself declared income as business or profession AO could not be directed to consider claim u/s 54/54F of the Act  In a recent judgment, ITAT Chennai held that when assessee himself declared income under the head “business or profession” and no capital gain was declared, no …

Survey not a short cut assessment proceedings. ITAT explains intricacies of survey In a recent judgment, ITAT Chandigarh has held that survey is not a short cut assessment proceedings or summary assessment, explained intricacies of survey u/s 133A of the Act. ABCAUS Case Law Citation:4230 (2024) (08) abcaus.in …

CBDT issues clarification in respect of Income tax clearance certificate (ITCC). All Indian citizens not required obtain ITCC before leaving the country. CBDT issues clarification in respect of Income-tax clearance certificate (ITCC). Section 230 (1A) of the Income-tax Act, 1961 (the ‘Act’) relates to obtaining of a tax …

Deductor cannot be treated an assessee in default till payee also failed to pay tax directly. Before holding assessee in default, AO must establish that payee failed to pay tax directly – ITAT In a recent judgment, ITAT Jaipur has held that in cases of non deduction of …