Judgement

Tribunal held the reassessment invalid because the income tax department failed to issue the notice through the correct officer.

Reassessment Declared Invalid Because Notice Was Issued Without Proper Authority: ITAT

The High Court criticised the Income Tax Department's re-initiation of the assessment proceedings, calling it arbitrary and unconstitutional.

Delhi High Court Quashes Tax Reassessment on NDTV Promoters Radhika and Prannoy Roy

ITAT held that once an NCLT-approved resolution plan is in force under the IBC, income-tax proceedings cannot continue.

Once Insolvency Plan Is Approved, Income Tax Proceedings Cannot Continue: ITAT

ITAT reduces the demonetisation cash addition from Rs. 2.26 crore to Rs. 2 lakh and held that normal tax provisions, not section 115BBE, apply for AY 2017-18.

ITAT Reduces Demonetisation Cash Addition from Rs. 2.26 Crore to Rs. 2 Lakh; Section 115BBE Ruled Out

ITAT upheld the Section 11 exemption, holding that the delay in filing Form 10B is only a procedural lapse when the audit report is submitted before assessment completion.

ITAT Clarifies Form 10B Filing Is Directory, Not Mandatory for Section 11 Exemption; Favours Assessee

Since the reason was genuine and unintentional, the tribunal quashed the CIT(A)'s order.

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Reassessment Declared Invalid Because Notice Was Issued Without Proper Authority: ITAT

Delhi High Court Quashes Tax Reassessment on NDTV Promoters Radhika and Prannoy Roy

Once Insolvency Plan Is Approved, Income Tax Proceedings Cannot Continue: ITAT

ITAT Reduces Demonetisation Cash Addition from Rs. 2.26 Crore to Rs. 2 Lakh; Section 115BBE Ruled Out

ITAT Clarifies Form 10B Filing Is Directory, Not Mandatory for Section 11 Exemption; Favours Assessee

ITAT Sets Aside Penalty Levied for Non-Compliance with Notices