Judgement

The ITAT ruled that an assessment framed without issuing notice under section 143(2) of the Income Tax Act is invalid and bad in the eyes of the law.

Assessment Framed Without Issuance of Notice Under Section 143(2) is Invalid: ITAT

ITAT partly allowed the Revenue’s appeal against the assessee, upholding the Rs. 10.44 lakh cash-gift addition while deleting the other additions.

Cash Gift on Marriage Anniversary Backfires: ITAT Confirms Tax Addition

The ITAT examined the case and observed that the assessee had provided all the required documentary evidence, which clearly showed the movement of goods.

Purchases Cannot Be Held Bogus if Assessee Files All Documentary Evidence: ITAT

Purchases Cannot Be Held Bogus if Assesse Files all Documentary Evidences: ITAT

The ITAT quashed an NFAC assessment framed prior to the operational notification of the faceless scheme and consequently deleted the Rs. 1.54 crore penalty.

ITAT Kolkata Rules Pre-Notification Faceless Assessment Invalid; Rs. 1.54 Crore Penalty Deleted

The court agreed with the tribunal's findings, observing that there was a change of stand and the assessee failed to substantiate the creditworthiness of the transaction.

Ahmedabad HC Sustains Disallowance as Assessee Fails to Substantiate Genuineness of Loan Transaction

Gujarat HC Sustains Disallowance as Assessee Fails to Substantiate Genuineness of Loan Transaction

News

The Income Tax Forms will be renumbered under the Income Tax Act 2025, with effect from April 01, 2026, keeping the key purpose of using them unchanged.

Explore Our Blogs

Stay updated with the latest insights, tips, and industry trends from our experts

Assessment Framed Without Issuance of Notice Under Section 143(2) is Invalid: ITAT

Cash Gift on Marriage Anniversary Backfires: ITAT Confirms Tax Addition

Purchases Cannot Be Held Bogus if Assesse Files all Documentary Evidences: ITAT

ITAT Kolkata Rules Pre-Notification Faceless Assessment Invalid; Rs. 1.54 Crore Penalty Deleted

Gujarat HC Sustains Disallowance as Assessee Fails to Substantiate Genuineness of Loan Transaction

Income Tax Forms Renumbered from FY 2026-27: Key Changes Under the Income Tax Act 2025