ITAT Holds A Taxpayer Must Be Granted Minimum 7-Day Time Limit to Respond A Section 148(b) Notice The ITAT Bangalore invalidated the entire reassessment proceedings, holding that a taxpayer must be granted a minimum of 7 and a maximum of 30 days’ time limit to respond to a notice issued under Section 148A(b) of the…
ITAT Remands Addition Made on Property Purchase Value Difference And Directs Fresh Examination of the Addition under Section 56(2)(x) The Income Tax Appellate Tribunal (ITAT), Ahmedabad, has directed a fresh examination of the addition under Section 56(2)(x) and upheld the disallowance of the deduction claimed under Section 80GGC in respect of a donation made to…
ITAT Restricts Addition And Holds AO Cannot Multiply Seized Figure by 100 Without Supporting Evidence The Income Tax Appellate Tribunal (ITAT) Delhi held that an addition under Section 69 of the Income Tax Act cannot be based on extrapolation of figures found in seized documents. If there is no supporting evidence, only the actual amount…
HC Strikes Down Reopening of Accepted Section 80-IA Claim The Bombay High Court quashed reassessment proceedings initiated against Chennai Container Terminal Pvt. Ltd. for AY 2014-15, holding that the reopening was based on an incorrect interpretation of Section 80-IA and was barred by the first proviso to Section 147 as there was no failure by…
Charging GST on Rent Doesn’t Make It Business Income: ITAT Rules Rental Receipts Still Taxable as House Property Income The Income Tax Appellate Tribunal (ITAT) Delhi has held that the rental income received by M/s Gogia Developers from their let-out property is taxable under the head “Income from House Property” and not as business income….
Commodity Trader’s Rs. 2.48 Crore NSEL Transactions Drew Tax Scrutiny; ITAT Cancels Reassessment Over Rs. 4.27 Lakh Profit The Income Tax Appellate Tribunal (ITAT), Delhi, held that where the income allegedly escaping assessment is below Rs 50 lakh, reopening beyond three years is impermissible and the notice issued under Section 148 is liable to be…
ITAT Mumbai Remands Rs 71.20 Lakh Addition Against NRI And Directs Fresh Adjudication The Income Tax Appellant Tribunal (ITAT) Mumbai set aside the ex parte assessment order and restored the matter to the file of the Assessing Officer for fresh adjudication. The assessee is an NRI residing in the United States since 2012, and he…
Transport Business Receipts or Undisclosed Income? ITAT Remands Rs 34.86 Lakh Cash Deposit Addition Case The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has provided relief to taxpayer Karam Veer by setting aside the orders of the Assessing Officer (AO) and the Commissioner of Income Tax (Appeals) [CIT(A)] and remanding the matter back to the…
HC Quashes Reassessment Where Cancelled Sale Deeds Show No Real Income Accrued Gopal Bhachabhai Jatiya challenged reassessment proceedings initiated by the Income Tax Officer under the Income Tax Act, 1961 in relation to two registered sale deeds concerning immovable property transactions. During the proceedings, the petitioner placed on record that both sale deeds had subsequently…
HC Upholds Validity of Section 148 Notice Issued on Last Day of Limitation Perin Exim LLP filed writ petitions challenging reassessment proceedings initiated under Section 148 of the Income Tax Act, 1961, mainly disputing the validity of the notice dated 30.06.2025. The petitioner contended that the notice had not been properly served, pointing to postal…
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