Search Results for "income escaped assessment"

219 result(s) found

Scroll Down To Discover

Found 219 result(s)

© Image Copyrights Juris Services & Technology

Gujarat High Court Quashes Reassessment Notice for AY 2014-15 Due to Limitation Under Section 149(1)(b) of Income Tax Act, 1961. Notice issued beyond six-year period from end of assessment year held invalid as escaped income did not involve assets of value exceeding Rs. 50 lakhs.

The petitioner, a major partner of PSY Group engaged in real estate business, challenged a notice dated 27.03.2025 issued under Section 148 of the Inc...

© Image Copyrights Juris Services & Technology

Gujarat High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Non-Application of Mind. Notice Issued Based on Search Materials Without Independent Satisfaction or Opportunity of Hearing Held Invalid.

The petitioner, Dilipbhai Prabhudas Patel, an individual and part of the PSY Group engaged in real estate business, filed his return of income for Ass...

© Image Copyrights Juris Services & Technology

Bombay High Court Quashes Reassessment Notice and Order in Income Tax Case Due to Lack of Fresh Material and Change of Opinion. Guarantee Fee Reversal Issue Already Examined in Original Assessment and Pending Before Tribunal, Reassessment Barred by Third Proviso to Section 147 of Income-tax Act, 1961.

The petitioner, Tata Communications Limited, filed its return of income for Assessment Year 2014-15 on 24 November 2014, which was revised twice in Ma...

© Image Copyrights Juris Services & Technology

Bombay High Court Allows Writ Petition Challenging CBDT Circular Denying Adjustment of TDS Against Tax Payable Under Voluntary Disclosure Scheme. Circular No. 755 dated 25-07-1997 Held Ultra Vires as It Imposed Restriction Not Found in Finance Act, 1997 or Income Tax Act, 1961.

The petitioner, Earnest Business Services Pvt. Ltd., a company incorporated under the Companies Act, 1956, and its director, filed a writ petition und...

© Image Copyrights Juris Services & Technology

High Court of Karnataka Dismisses Revenue's Appeal in Transfer Pricing Adjustment Case — Held that ITAT Correctly Deleted Addition for Non-Compete Fee Paid to AE Without Adequate Justification. The court found no substantial question of law as the Tribunal's findings were factual and not perverse.

The Revenue (Commissioner of Income Tax and Assistant Commissioner of Income Tax) filed appeals under Section 260A of the Income Tax Act, 1961 against...

© Image Copyrights Juris Services & Technology

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Assessment Reopened Beyond Four Years Without Allegation of Failure to Disclose Material Facts. Reopening Based on Change of Opinion and Audit Objection Held Invalid.

The petitioner, M/s. Lalitha Chem Industries Pvt. Ltd., is engaged in the business of manufacturing chemicals with units at Tarapur and Silvasa. For A...

© Image Copyrights Juris Services & Technology

Bombay High Court Quashes Reopening of Assessments Under Section 148 for Lack of Fresh Material — Deduction Under Section 80IB Allowed After Scrutiny in Original Assessment. Reopening Based on Same Facts Already Examined Under Section 143(3) Amounts to Change of Opinion and Is Invalid.

The petitioner, Purity Techtextile Private Limited, challenged the reopening of its income tax assessments for Assessment Years 2003-2004 and 2004-200...