Tag: reasons recorded

Section 5A of Income Tax Act is applicable only to division of income between spouses governed by Portuguese Civil Code. Section 5A does not deal with the division of assets. In a recent judgment, Bombay High Court has held that Section 5A of Income Tax Act 1961 is …

Non supplying “reasons to believe” to assessee made the assessment lacking valid assumption of jurisdiction – ITAT In a recent judgment, ITAT Raipur has held that when the Assessing Officer (AO) despite specific request of the assessee failed to provide to him a copy of the “reasons to …

PCIT approval for re-opening only by putting signing was without application of mind -SC dismissed SLP  PCIT approval for re-opening only by signing was without application of mind –Supreme Court dismisses SLP of the Income Tax Department   In a recent judgment, Hon’ble Supreme Court has dismissed the …

Information from Investigating Wing cannot be sole basis for forming belief that income escaped assessment – High Court In a recent judgment, Hon’ble Delhi High Court has held that information received from Investigating Wing cannot be the sole basis for forming a belief that income of the assessee …

Validity of notice issued u/s 263 based on incorrect grounds or unsupported evidence can be questioned – ITAT In a recent judgment, ITAT Ahmedabad has held that validity of a revision notice issued u/s 263 the Income Tax Act, 1961 based on incorrect grounds or unsupported evidence can …

Reopening on incorrect reasons recorded that assessee not filed return of income quashed by ITAT In a recent judgment, ITAT Guwahati has quashed the reopening done on the factually incorrect reasons recorded by the AO that assessee had not filed return of income. ABCAUS Case Law Citation:4195 (2024) …

Re-assessment order quashed for typographical mistake in reasons recorded  In a recent judgment, Hon’ble High Court of Jharkhand held that ex-parte re-assessment order passed u/s 147 and notice u/s 148 of the Income Tax Act, 1961 cannot be sustained in the eye of law especially in view of …

High Court declines interference under writ jurisdiction at conclusion stage of re-assessment proceedings. In a recent order, the Hon’ble Allahabad High Court has declined interference under writ jurisdiction at conclusion stage of re-assessment proceedings. ABCAUS Case Law Citation:ABCAUS 3857 (2024) (02) HC In the instant case, the assessee …

Reasons on which reopening done must first survive to make addition on additional issues also – ITAT explains Explanation 3 to section 147 ABCAUS Case Law Citation:ABCAUS 3804 (2023) (09) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) and raised the …

Reassessment on the wrong presumption that assessee not have PAN and is a non return filer held void ab initio as basic premise on which initiated has no legs to stand – ITAT ABCAUS Neutral Case Law Citation:ABCAUS 3688 (2023) (03) ITAT Important Case Laws relied upon by …