It found that while suspicions regarding price manipulation in Dhanleela Investment & Trading Co. Ltd. were valid, the Revenue failed to establish any direct link between Gupta and the alleged ...
The AO’s case was based on an investigation report from the Income Tax Department’s Kolkata wing, which suggested that the share prices of Midland Polymers were manipulated. However, the ITAT noted ...
The departmental representative (DR) did not raise any objections to the withdrawal request. Considering the formal application and lack of opposition, ITAT Pune permitted the withdrawal of the appeal ...
HC Directs Reopening of Portal to File Revised Return, Condones Delay to Prevent Undue Tax Liability
The Bombay High Court adjudicated a case concerning K.S. Bilawala & Ors., where the petitioners challenged an order rejecting their request to file a revised income tax return for the Assessment Year ...
One key contention was the computation of taxable surplus from the life insurance business. The assessee argued that the assessment was not in accordance with Section 44 and Rule 2, which should be ...
The ITAT acknowledged this explanation and condoned the delay, emphasizing that substantial justice should prevail over technical objections. The tribunal distinguished this case from the Supreme ...
Rajasthan High Court heard a plea by Ram Babu Agarwal challenging the reopening of his assessment for the Assessment Year (AY) 2012 ...
1. Open the Excel file and go to the “Form26AS” sheet. 2. Click the “Upload” button. 3. Select the Text (.txt) file downloaded from the Income Tax Portal ( ...
Shah Vs. Deputy Commissioner of Income Tax (DCIT), ruled on the disallowance of a deduction under Section 80-IA due to the delayed filing of Form 10CCB. The case stemmed from the Centralized ...
Hans Raj Puri (1953 AIR P&H 55), where the court emphasized that the Income Tax Act provides a structured mechanism for assessments, and challenging the AO’s actions through writ petitions is not ...
This ruling underscores the judicial scrutiny over reassessment powers under the amended Income Tax Act and reinforces the position that time-barred reassessments cannot be revived through subsequent ...
Bombay High Court has quashed a notice of reassessment issued to Hindustan Lever Ltd. under Section 148 of the Income-tax Act, 1961, for the assessment year 1997-98. The court determined that the ...
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