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The Visakhapatnam Bench of the Income Tax Appellate Tribunal (ITAT) reviewed the validity of an assessment conducted under Section 144 of the Income Tax Act, 1961. The focus of the examination was whether this assessment could be upheld or rectified at a later stage despite the absence of a required notice under Section 143(2) of […]
The Income Tax Appellate Tribunal (ITAT) in Delhi ruled that the assessment conducted by the Assessing Officer under Section 143(3) on December 27, 2019, following a notice issued under Section 143(2) on September 22, 2018, is invalid. The tribunal found that the notice was not in the format required by the Central Board of Direct […]
The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT) quashed the assessment for failure to issue the needed notice u/s 143(2) of the Income Tax Act,1961, and unjustified additions. The taxpayer Jivarajbhai Ramabhai Chaudhary submitted the plea 63 days late due to a mistake by the Chartered Accountant. The delay was elaborated on and not countered […]
The re-assessment without the issuance of notice under Section 143(2) of the Income Tax Act 1961 was void, Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) ruled. Gonuguntla Nirmala Devi, an individual taxpayer, submitted her tax return for the 2012-13 assessment year on March 30, 2014, disclosing her income. The tax authorities initially processed her […]
The Assessment Order of the Commissioner of Income Tax (Appeals) (CIT(A)) has been cancelled by the Income Tax Appellate Tribunal (ITAT), Bangalore Bench reason that an obligatory notice under Section 143(2) of the Income Tax Act, 1961 was not served to the taxpayer before the finish of the assessment proceedings. The taxpayer, Rajiv Gandhi University […]
The Delhi Bench of the Income Tax Appellate Tribunal (“ITAT”) ruled that the presumption u/s 292C of the Income-tax Act, 1961, for the ownership and truth of documents discovered in search, is rebuttable and is not conclusive in specifying undisclosed income. The taxpayer, Krishna Gopal Saraf, a salaried employee of Sarthak Vanijya India Ltd (SVIL), […]
The Kerala High Court ruled that Section 263 of the Income Tax Act, 1961, can be invoked where the Assessing Officer (AO) is not able to address the main issue in the assessment order. The bench stated that the problem does not appear to have been addressed by the assessing authority when issuing an order […]
The Kerala High Court has made a ruling regarding tax returns. It stated that if someone has voluntarily submitted their tax returns, they cannot go back and change them by adding new evidence later on. This decision is based on a specific rule 29 of the ITAT rules that allows the tax appeal tribunal to […]
The penalty under section 270A of the Income Tax Act, 1961, cannot be levied when the underlying addition is based on the estimation of income, the Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled. The income of the taxpayer Ram Lakhan for A.Y. 2017-18 has been estimated by the Assessing Officer […]
