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The Additional Commissioner of CGST, Delhi South Commissionerate, imposes an Order-in-Original on GAIL (India) Limited, the state-owned gas utility. It had asked for the Goods and Services Tax (GST) on corporate guarantees issued by the company to banks on behalf of its subsidiaries and joint ventures. On December 10 at 5:00 PM, an order was […]
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 […]
Section 143(1)(a) of the Income Tax Act, 1961 (the 1961 Act), cannot be invoked by the Assessing Officer (AO) to disallow a claim when the issue involved such as the deductibility of employees’ contributions to EPF/ESI under Section 36(1)(va) is pending consideration before the Supreme Court, as in Checkmate Services Pvt. Ltd. vs. CIT [(2023) […]
As a result of the Finance Bill 2025, Section 143(1) of the Income-tax Act, 1961 has undergone significant changes. A new provision has been introduced that allows for the cross-verification of inconsistencies in income tax returns (ITR), improving the process of ITR processing. The income tax department, via the identification of discrepancies between the assessment […]
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 […]
As per the Delhi High Court, a Final Assessment order passed via the Income Tax Authorities u/s 143 of the Income Tax Act, 1961 is not sustainable, if it is passed in ignorance of pending objections before the Dispute Resolution Panel. A division bench of Acting Chief Justice Vibhu Bakhru and Justice Tushar Rao Gedela […]
The order has been quashed by the Delhi bench of the Income Tax Appellate Tribunal (ITAT) via the Deputy Commissioner of Income Tax (DCIT) for the assessment year (AY) 2021-22, where the assessing officer (AO) had applied Section 143(3) of the Income Tax Act, 1961, rather than the appropriate Section 153C of the Income Tax […]
No assessments could be made under section 143 or 144 of the Income Tax Act post 12 months from the finish of the pertinent assessment year, the Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) observed. The taxpayer company reported a taxable income of Rs. 8,59,050/- in 2012, later assessed at Rs. 12,13,510/ in […]
