PUNJAB AND HARYANA HIGH COURT : S. 147A : Reassessment-Face less Assessment-Assessing Officer for the purposes of sections 148, 148A-Constitutional validity-Retrospective amendment-Section 147A introduced with retrospective effect from 1-4-2021 to provide that Assessing Officer for purposes of sections 148 and 148A would mean an Assessing Officer other than National Faceless Assessment Centre/assessment unit-Amendment seeking to neutralise judgments of constitutional Courts holding… Read More ...

Mumbai Tribunal : S. 263 : Commissioner-Revision of orders prejudicial to revenue-Accommodation entries-Revision under section 263 could not be exercised on the basis of a void reassessment order-Reassessment-Sanction-Jurisdictional condition-Assessment Year 2017-18-Notice under section 148 issued on 29-07-2022, beyond three years from end of relevant assessment year-Approval obtained from Principal Commissioner under section 151(i), whereas section 151(ii) required approval… Read More ...

NAGPUR TRIBUNAL : S. 263 : Commissioner-Revision of orders prejudicial to revenue-Non-performing assets-Loss on sale of NPAs-Co-operative bank-Assessment completed under section 143(3) after examination of relevant details-AO having adopted a possible view-Loss on sale of NPAs held allowable as business loss by the Tribunal in the assessee’s own case-PCIT could not invoke revision merely for directing fresh enquiry… Read More ...

By CA Vijayakumar Shetty: The Jaipur ITAT directed the CIT(E) to grant registration to Jamna Devi Shikshan Sansthan, holding that an increase in rent paid to specified persons could not, by itself, establish that an undue benefit had been conferred under Section 13(1)(c). The society was running a co-educational English-medium senior secondary school in rented premises. The monthly rent… Read More ...

By Advocate Bharat Berry: The said article or blog is intended to ease the understanding of taxpayers that when they file the returns under Goods and Service Tax, how the said algorithm or tagging their return is judged and the neccessary components that are requisite while computation and tagging of the said return by the software, so the taxpayer… Read More ...

By CA Anilkumar Shah: This is the story of the glitches in the ITR and other forms for AY 2026-27 which were brought to the notice of the e-filing team and are resolved after pursuing and followup. This shows how time is consumed by the Dept. But tax payers and tax professionals suffer and are slapped with late fees… Read More ...