Facts, in brief, are that in this case the assessment was reopened u/s 147 of the Income-tax Act, 1961, hereinafter referred to as the “Act” and a notice u/s 148 of the Act was issued on 29.03.2018. In response to the notice the assessee filed return of income. However, thereafter there was no compliance on behalf of the assessee in respect of statutory notices. Therefore, the AO frame......

ITAT RAIPUR _ ACIT (CENTRAL) BILASPUR VERSUS M/S. BARBARIK PROJECT LTD,- ITA No. 70/RPR/2021 And Cross Objection No.20/RPR/2022 (Arising out of ITA No.70/RPR/2021) Dated.- September 18, 2023 Facts _The assessee is a company, engaged in the business of construction and transporting contracts. The assessee has electronically filed its return of income for A.Y. 2010-11 on 14.10.2010 declaring total ......

Scope of Section 264 and how it differs from Section 139(5)     Section 264(1)-  In the case of any order other than an order to which section 263applies passed by an authority subordinate to him, the Principal Commissioner or Commissioner may, either of his own motion or on an application by the assessee for revision, call for the record of any proceeding under this Act in w......

ITAT SURAT _ HASMUKH KANJIBHAI TADHANI VERSUS THE ITO, WARD – 3 (3) (3) , SURAT,- ITA No. 19/SRT/2023 Dated.- September 4, 2023   Facts assessee has filed his return of income for assessment year (A.Y.) 2017-18, on 05.03.2018, declaring total income of Rs. 6,77,840/-. The return of income was processed u/s 143(1) of the Income Tax Act. Later on, the case of the assessee was selected ......

ITAT in ACIT Vs Ashok W. Wesavkar (ITAT Mumbai) Appeal Number: I.T.A. No. 5147/Mum/2017 Date of Judgement/Order: 02/05/2023 Assessment Year: 2011-12: - In this case of ACIT vs. Ashok W. Wesavkar, the issue revolved around the tax treatment of the sale of agricultural land by the assessee. The assessee, who was a professional architect, had sold agricultural lands to Mayank Land Pvt. Ltd. for a co......

Unexplained cash credits u/s 68 - amount of cash deposited by the assessee in his bank account during the demonetization period - nature and source of the cash deposits being proceeds arising out of cash sales etc. was evident from the entries in the audited books of accounts of the assessee:-  ITAT JAIPUR :-THE ACIT CENTRAL CIRCLE-2 JAIPUR VERSUS SHRI CHANDRA SURANA, ITA No. 166/JP/2022, FA......

ISSUE  for guidance - clause 23 of Tax Audit Report- Payment made to a specified person:-                  ISSUE: Whether the detail of EXPENDITURE   in respect of payment has been made or to be made to be disclose in Tax Audit Report or ONLY – PAYMENT MADE TO SPECIFIED PERSON  (   whether the advance ......

DELHI HIGH COURT in the case of - GOEL ROAD CARRIERS PRIVATE LIMITED VERSUS ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-10 (2), DELHI & ANR.-No.- W.P.(C) 6885/2022 & CM Appl. 20970-20971/2022 Dated.- May 2, 2022                                                  &......

GAUHATI HIGH COURT :- SHARDA LUNKAR VERSUS THE UNION OF INDIA AND 3 ORS. PRINCIPAL COMMISSIONER OF INCOME TAX GUWAHATI, INCOME TAX OFFICER WARD-2 (1) GUWAHATI NATIONAL FACESLESS ASSESSMENT CENTRE- No.- WP(C)/2324/2022, Dated.- March 31, 2022 Reopening of assessment u/s 147 - Shorter time to reply to notice - HELD THAT:- As show cause notice dated 25.03.2022, the petitioner was to submit his respo......

“Rule of alternate remedy” Article 226 of the Constitution of India refers to power of High Court's to issue certain writs throughout the territory in relation to which it exercises jurisdiction. Article 226 of the Constitution sub clause 1 and 2 are as below: Notwithstanding anything in Article 32 every High Court shall have powers, throughout the territories in relation to whi......

Delhi High Court  on Faceless Assessment - Validity of assessment where no show-cause notice cum draft assessment order was issued, as mandated under Section 144(B) [sic: Section 144B] of the Income Tax Act, 1961 DELHI HIGH COURT SMART VISHWAS SOCIETY VERSUS NATIONAL FACELESS ASSESSMENT CENTRE DELHI (EARLIER NATIONAL E-ASSESSMENT CENTRE DELHI) & No.- W.P.(C) 5348/2021 & CM No. 16497......

Section 2(7) define (7) "assessee" means a person by whom income-tax or super-tax or any other sum of money is payable under this Act, and includes— (a) every person in respect of whom any proceeding under this Act has been taken for the assessment of his income or of the income of any other person in respect of which he is assessable, or of the loss sustained by him or by such other p......

ITAT MUMBAI : - MUKESH KAMLESHWAR BHATT C/O KHIWANI AND CO. VERSUS ITO (INTERNATIONAL TAXATION) -1 (2) (1) , MUMBAI- No.- ITA No. 273/Mum/2019, Dated.- June 1, 2021 Penalty u/s 271(1 )(c) - disallowances of claimed expenses in the LTCG - AO has denied certain expenditure, which were claimed to have been incurred in connection with the acquisition of the flat for claiming ded......

Properties purchased before the commission of the offencecannot fall within the definition of “proceeds of crime” and cannot be attached or confiscated under the Act. ANDHRA PRADESH HIGH COURT KUMAR PAPPU SINGH, S/O. KAPIL DEO SINGH, SMT. RAMA DEVI, W/O. KUMAR PAPPU SINGH, JAI MAAKALI PULP PVT. LTD., M/S. SRI MARUTI FISH FARMS VERSUS UNION OF INDIA, MINISTRY OF FINANCE, THE DEPUTY DI......

The new Income Tax Returns (ITRs) e-filing website was launched on June 7, with new features to make the process smoother. "The new e-filing portal is aimed at providing taxpayer convenience and a modern, seamless experience to taxpayers," the Central Board of Direct Taxes (CBDT) said in a statement The new portal (www.incometax.gov.in) will be integrated with the immediate processin......

Section 2(h) of Indian Succession Act, 1925 defines: Will” means the legal declaration of the intention of a testator with respect to his property which he desires to be carried into effect after his death.   A Will therefore, is a legal declaration of the intention to the testator, to be carried out after his death by an executor(the person who disposes of or oversees the settleme......

Right of Appeal is a creature of Statute. A person has no inherent right of appeal and hence, it cannot come under the category of fundamental rights. An appeal is a continuation of assessment proceedings. Assessment proceedings complete when appeal against order of assessment is decided by Tribunal CIT vs. Mayur Foundation (2005) 274 ITR 562(Guj.)   Section 246 confers ......

DELHI HIGH COURT :-   M/S. MELOT TECHNOLOGIES PVT. LTD. VERSUS DIRECTORATE OF ENFORCEMENT & ORS. No.- W.P.(C) 5290/2021, CM APPL. 16289/2021 & CM APPL. 17201/2021, Dated.- May 27, 2021 Money Laundering - freezing of petitioner’s bank account - It is the petitioner’s case that the impugned order had been passed without providing it with a copy of the show-cause notic......

Issue of Notice Under Section 148  of the Income Tax Act to Amalgamating Company name would be fundamentally illegal and without jurisdictionPr. CIT Vs Maruti Suzuki India Limited (Supreme Court)- Appeal Number : Civil Appeal No 5409 of 2019-Date of Judgement/Order : 25/07/2019    reported in  (2019)107 taxmann.com 375,   in paragraph 33, has categori......

The Bombay High Court held on 28 February 2020 in Sesa Goa Limited that the education cess, and higher and secondary education cess (cess) is an allowable business expense in the year of payment, since the word “cess” is conspicuously absent from the descriptions of amounts not deductible under section 40 of the Income tax Act, 1961 (ITA), specifically section 40(a)(ii), dealing with......