Category: Income Tax

Notice u/s 143(2) without specifying whether it is a limited scrutiny or a complete scrutiny or a compulsory manual scrutiny held void – ITAT In a recent judgment, ITAT Guwahati has held that income tax notice u/s 143(2) without specifying whether it is a limited scrutiny or a …

Once unaccounted income is admitted and issue attains finality, no addition can be made on a protective basis for the same income on other assessee. In a recent judgment, ITAT Visakhapatnam has held that once the searched person admitted the unaccounted cash receipts as its income, and the …

Condonation of delay in filing Form 10B/ITR. ill-health resulting in demise of executive trustee was a bonafide reason In a recent judgment, Hon’ble Karnataka High Court has held that ill-health and subsequent demise of the executive trustee of the assessee trust constituted bona fide reasons for condonation of …

ITAT Allahabad follows it previous decision on validity of consolidated approval u/s 153D, says it’s later decision was in violation of binding precedents. In a recent judgment, ITAT Allahabad on the issue of validity of consolidated approval u/s 153D of the Income Tax Act has followed its earlier …

Wherever assessee had purchased the materials by way of E-way bill such purchases cannot be treated as bogus or non genuine – ITAT In a recent judgment, ITAT Delhi has held that wherever the assessee had purchased the materials by way of E-way bill such purchases cannot be …

Relying upon investigation report without own reasons recorded amounted to borrowed satisfaction u/s 148 which is not permissible In a recent judgment, Hon’ble Supreme Court has dismissed SLP against the judgment of the Gujarat High Court which held that the AO relying upon investigation report the and not …

AO taking cognizance of belated return ought to have issued the mandatory notice under section 143(2) of the Act – ITAT In a recent judgment, ITAT Agra has held that once AO took cognizance of the belated return filed by the assessee he ought to have issued the …

When assessee failed to explain source of purchases expenditure, estimating profit rate was contrary to provision of Section 69C which calls for addition of the entire amount. In a recent judgment, Hon’ble Supreme Court dismissed SLP against the judgment of the Bombay High Court which held that when …

Income Tax Department not trusted even upon its lawyers – SC slams ITD on adopting a long process resulting delay in filing appeal In a recent judgment, the Hon’ble Supreme Court has slammed the Income Tax Department for adopting a long process of filing petition despite having a …

CBDT notifies the Capital Gains Accounts (Second Amendment) Scheme, 2025 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 19th November, 2025 (INCOME-TAX) S.O. 5293(E) — In exercise of the powers conferred by sub-section (2) of section 54, sub-section (2) of section …