By clarifying that penalty initiation begins from the earliest action, such as a reference from the AO, the Delhi High Court underscores that delays in issuing show-cause notices do not extend the penalty imposition timeline. In a recent ruling, the …
Kerala High Court: As the appeal has already been heard and final orders are pending, all additional proceedings shall be kept in suspension until the appeal’s final orders are passed. In a recent development in WP(C) NO. 10163 OF 2024 …
ITAT concluded that the AO had failed to record proper satisfaction before issuing the notice under Section 153C of the Income Tax Act. The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has nullified an assessment order due to …
The ITAT dismissed the revenue’s petition, finding that the AO failed to establish a clear link between the tangible material and the conclusion of escaped income. In a significant ruling, in case of Surender Dalai vs ITO [I.T.A No.7714/Del/2029], the …
The ITAT noted that the non-compliance under Section 12A of the Act is a procedural lapse, and when the Audit Report was eventually filed, it should have been considered for Section 11 Exemption. ITAT Ahmedabad Ruling on Section 11 Exemption: …
CGAS deposit is not a mandatory requirement for claiming capital gain deductions, if it has been invested within the prescribed time limit under section 54(1) of the Income Tax Act for the purchase or construction of a new property Relevance …
The Court affirmed the department’s right to initiate such proceedings based on material presented to the court In a recent landmark decision, the Gujarat High Court upheld the legality of search and seizure operations carried out by the Income Tax …
Prosecution u/s. 276CC Against Genuine Taxpayers who have Diligently Prepaid a Significant Portion of their Tax Obligations is not Justifiable: Madras High Court Order Dt. 17 November 2023 Legality of Prosecution Against Genuine Taxpayers who Prepaid Substantial Part of their …