Judgement

Tribunal holds assessment order invalid as passed beyond limitation under Section 144C(13); other grounds left open.

ITAT: Final Assessment Order Time-Barred, Upload Date Triggers Limitation

The Income Tax Department has introduced the Annual Information Statement (AIS) to help people see all their financial transactions in one place.

Tribunal deletes penalty; holds AO’s failure to specify concealment or inaccurate particulars vitiates proceedings.

Tribunal upholds deletion of 2.22 crore addition; holds cash deposits reflected genuine sales duly recorded in books.

The taxpayers investing in these specified bonds of IREDA can claim exemption under the said section.

HC holds tax disputes settled under Vivad se Vishwas cannot be reopened via Section 154 rectification; directs refund with statutory interest.