Assessment order has to be read as it is and there is no scope for drawing any inference or reading between the lines of an assessment order – ITAT In a recent judgment, the ITAT set aside the revisonary order u/s 263 holding that Assessment order has to …

Belief of the Assessing Officer regarding escapement of income should be based on some tangible information In a recent judgment, the ITAT has held that belief of the Assessing Officer regarding escapement of income should be based on some tangible information and it should not be mere pretence …

Capital gain tax in JDA is in the year of receipt of constructed area and not in year of entering into joint development agreement – ITAT In a recent judgment, ITAT has confirmed that capital gain tax in the case of a joint development agreement is in the …

Simply holding that AO was required to make more enquires is not a valid ground to hold assessment order as erroneous and prejudicial – ITAT ABCAUS Case Law Citation:ABCAUS 3892 (2024) (03) ITAT In the instant case, the assessee had challenged the revisionary order u/s 263 passed by …

Limitation u/s 138 of NI Act starts after expiry of 15 days period to make payment from the date of receipt of notice- Allahabad High Court ABCAUS Case Law Citation:ABCAUS 3891 (2024) (03) HC Important Case Laws relied upon by parties:Kusum Ingots & Alloys Limited Vs. Pennar Peterson …

Assessee can not be prevented from claiming an income exempt merely because such income was wrongly offered in ITR which was not revised – ITAT In a recent judgment, ITAT has set aside a case for fresh determination of taxability of receipts wrongly offered to tax in return …