Articles

CRISIL Ltd received a Rs 149 crore tax demand under Sections 143(3) and 144B for FY23. The company will challenge the order through appeal, stating no immediate financial impact.

 Income Tax Department Issues Rs 149 Crore Demand to CRISIL Ltd Under Assessment Order; Appeal to be Filed by Company

Judgement

The ITAT restores the Rs 6.37 Crore cash deposits case, holding that CIT(A) wrongly deleted the addition without proper verification and by admitting new evidence.

CIT(A) cannot cannot grant relief merely on new evidence without giving AO an opportunity to respond: ITAT

HC invalidates reopening as loose paper entry lacked nexus and predated transaction

HC Invalidates Reopening Lacking Nexus with Alleged Loose Paper Entry

Income Tax Reassessment time-barred, Rs. 50L limit applicable, Section 68 addition validity

Income Tax Notice held invalid as escaped income was below Rs. 50 lakh: ITAT

The Income Tax Department denied allegations made by K. Selvaperunthagai, stating no raid occurred and routine cash checks were misinterpreted, later reporting the false claims to authorities for action.

Income Tax Department Denies Allegations of Search on Tamil Nadu Congress Leader

The Gujarat High court Quashed the writ petition because it was based on vague and uncorroborated material which did not directly refer to or establish any link with the petitioner.

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Income Tax Department Issues Rs 149 Crore Demand to CRISIL Ltd Under Assessment Order; Appeal to be Filed by Company

CIT(A) cannot cannot grant relief merely on new evidence without giving AO an opportunity to respond: ITAT

HC Invalidates Reopening Lacking Nexus with Alleged Loose Paper Entry

Income Tax Notice held invalid as escaped income was below Rs. 50 lakh: ITAT

Income Tax Department Denies Allegations of Search on Tamil Nadu Congress Leader

No Nexus, No Notice: Gujarat High Court Sets Aside Section 148 Proceedings