Category: Income Tax

Section 148 of Income Tax Act after 01.04.2021, does not even require recording reason to believe. In a recent judgment, Delhi High Court has held that language of section 148 of the Income Tax Act after 01.04.2021, does not even require recording reason to believe much less possession …

Income Tax Department, Lucknow is hiring Young Professional for assisting the Departmental Officers posted in various benches of ITAT, Lucknow With a view to augment departmental representation in ITAT, the Young Professional Scheme envisions engagement of Young Graduates in Law & Accountancy who are rich in domain knowledge. …

Burden of proof is on assessee to adduce cogent evidence that land sold was an agricultural land – Supreme Court dismisses SLP. In a recent judgment, Hon’ble Supreme Court dismissed SLP of the assessee against the judgment of Hon’ble Kerala High Court holding the land sold by the …

Pursuing remedy through rectification application u/s 154 within time, is a reasonable cause for condonation of delay in filing of appeal before CIT(A). In a recent judgment, ITAT Lucknow has accepted the plea that pursuing remedy through application u/s 154 of Income Tax Act within time, should be …

ITAT allows depreciation on highway project awarded on DBOT basis In a recent judgment, ITAT Delhi allows depreciation on highway DBOT project rejecting the argument that assessee was not the owner of the road constructed by it and ownership of the asset is sine qua non for claiming …

Once assessee satisfies conditions mentioned in section 270AA, the Assessing Officer would be bound to grant immunity In a recent judgment, Hon’ble Calcutta High Court set aside penalty order under section 270AA of the Income Tax Act holding that once assessee satisfies conditions mentioned in the section, the …

Date of dispatch of notice as per ITBA portal and date of communication by email may not necessarily be the same – ITAT quashed notice 148A In a recent judgment, ITAT Hyderabad quashed notice under section 148A as invalid holding that date of dispatch of notice as per …

Date of digital signature and issuance determines the date of a notice u/s148 of the Income Tax Act – ITAT In a recent judgment, ITAT Chennai has held that date of digital signature and issuance determines the date of a notice u/s148 of the Income Tax Act, 1961 …

Net profit rate may not per se experience variation commensurate to the increase of turnover. In a recent judgment, Allahabad High Court has held that net profit rate may not per se experience variation commensurate to the increase of turnover. No principle in law is available to necessarily …

Refusing to condone delay can result in a meritorious matter thrown out at very threshold against case being decided on merits after hearing the parties  In a recent judgment, ITAT Mumbai has condoned the delay in filing appeal observing that Hon’ble Supreme Court had held that refusing to …