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Instruction dated 22.08.2022
CBDT: Consequent to order passed by Allahabad High Court passing severe strictures and proposing to levy exemplary cost of Rs 50 lakhs in a writ challenging reopening of assessment on wrong facts, CBDT today ( 22nd August,2022 ) has issued instructions to all its officers that for initiating proceedings under Section 148/147 of the Act, any… Read More ...
Gourishankar Girdharilal Lohiya HUF vs ACIT (ITAT Pune)
ITAT Pune: Assessing Officer’s issued notice under section 143(2) dated 01.09.2010 to Shri Lohia Gourishankar G having PAN No.AAKPL3064D . and not to the assessee (HUF) having PAN No.AAAHL3831L but to Shri Lohia which makes it clear cut instance of non-issuance of a valid section 143(2) notice held to be mandatory condition in the foregoing landmark decision.… Read More ...
Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961 AY 2022-23 (Effective for the AY 2022-23 and subject to amendments made by law, judiciary or administration, for the subsequent assessment years)
ICAI: Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961 AY 2022-23 (Effective for the AY 2022-23 and subject to amendments made by law, judiciary or administration, for the subsequent assessment years) Read More ...
“Approval of PCIT/CIT is mandatory to convert Limited scrutiny into Complete Scrutiny” ITAT Indore
ITAT Indore: Approval of PCIT/CIT is mandatory to convert Limited Scrutiny to Complete Scrutiny Read More ...
PCIT Chandigarh Vs ABC Papers Limited (Supreme Court)
Supreme Court of India : PCIT Chandigarh Vs ABC Papers Limited (Supreme Court) Date-18th August 2022 Sub-The Hon’ble Supreme court in this case was called upon to decide which High Court would have the jurisdiction to entertain an appeal against a decision of a Bench of the ITAT exercising jurisdiction over more than one state, particularly when case(s) of same… Read More ...
Directions/ Instructions Passed By Income Tax Dept. After Adverse Observations of Hon. Allahabad High Court in case of SR Cold Storage vs. Union of India
Pr. CCIT UP and Uttarakhand: Madam/Sir, Sub: Observation of the Hon’ble High Court in Civil Misc. Writ Petition (Tax) No. 723 of 2022 in the case of S.R. Cold Storage Vs. Union of India and others – Regarding – In reference to the above, the Sr. Standing Counsel of the department has informed that during the court proceedings the Hon’ble… Read More ...
S R Cold Storage vs. UOI and Others (Allahabad High Court)
Allahabad High Court: Rs. 50 lakhs cost imposed on the department in case of arbitrary demand and proceedings initiated on the pretext of Faceless Assessment under Income Tax. Hon. Allahabad HC rejects affidavit of Principal Chief Commissioner of Income Tax, U.P. Read More ...
Nabco Products Pvt. Ltd. vs. UOI and others (Allahabad High Court)
Allahabad High Court: In this case the assessee had submitted a reply to the notice under clause (b) of Section of Section 148A. However, the impugned order under Section 148A(d) had been passed on the ground that no reply has been submitted. The application for rectification of the mistake submitted by the petitioner u/s 154 had been rejected… Read More ...
Sahita Construction Company vs. PCIT (ITAT Indore)
ITAT Indore: that when the assessment is taken up for limited scrutiny, Ld. Pr. CIT/CIT cannot hold the assessment order as erroneous and prejudicial to the interest of revenue in respect of issue which was not a reason for selection of the case for limited scrutiny. Read More ...
Bhopal Dugdh Sangh Sahakari Maryadit vs DCIT (ITAT Indore)
ITAT Indore: ITAT Indore condones delay of 3 years and 276 days Read More ...