Category: Income Tax
Ground taken by assessee that he was not aware of the order cannot be brushed aside so lightly in absence of any proof otherwise – High Court In a recent judgment Hon’ble High Court while condoning the delay of eight years in filing appeal has held that the …
In an order rejecting stay of income tax demand there should be a recital of the merits whether it is a case for stay or not. In a recent judgment, Hon’ble High Court has held that in the order rejecting stay of income tax demand there has to …
CBDT has extended the due date for furnishing Return of Income for Assessment Year 2026-27 (FY 2025-26) in respect of persons subject to audit under the Income-tax Act, 1961. The due date for furnishing Return of Income for Assessment Year 2026-27 (Previous Year 2025-26) is 31st October, 2026 …
Denying the accumulation of u/s 11(2) merely on grounds of a procedural delay in filing Form No. 10 is unsustainable in law. In a recent judgment, ITAT has held that denying the accumulation of under section 11(2) merely on grounds of a procedural delay in filing Form No. …
Immunity u/s 270AA(2) in respect of a single transaction can not be denied to one assessee when the penalty was dropped for other assessee. In a recent judgment, ITAT has allowed immunity from penalty u/s 270A to the assessee for not declaring capital gain on property observing that …
ITAT deleted addition u/s 69A towards jewellery found in search in view of Indian traditions, CBDT Instruction and High Court decisions In a recent judgment, ITAT held that the 2000 gram jewellery found in the case of assessee, and his family was very much reasonable, keeping in mind …
Documents obtained post search and information obtained from the public domain not incriminating material. Documents obtained by AO post search and information obtained from the public domain was not incriminating material. Hence, the satisfaction recorded by the AO was against the provisions of Section 153C of the Income …
Information of deposits in bank did not constitute fresh information necessitating second reopening due to change in bank name In a recent judgment, Hon’ble High Court quashed the notice u/s 148A as the information flagged by RMS regarding unexplained credits in bank did not constitute fresh information necessitating …
CBDT notifies revised Form No. 169 for making application for registration as a valuer under section 514 and authorised income tax practitioner u/s 515 of Income-tax Act, 2025 CBDT has issued Notification No. 120/2026 dated 17/09/2026 to notify Income-tax (Fourth Amendment) Rules, 2026 w.e.f. 1st day of April, …
Curtailing time to file reply to notice u/s 148A(b) from statutorily available 30 days to 15 days seriously prejudiced assessee’s right – High Court In a recent judgment Hon’ble High Court held that curtailing assessee’s right or time to file reply in response to notice u/s 148A(b) from …
