ITC disallowance for delayed GSTR-3B filing can be rectified within 6 months. ITC Disallowance Due to GSTR-3B Delay; Assessee Directed to Comply with Rectification Circular Issue: Whether the assessee, whose Input Tax Credit (ITC) was disallowed due to a delay in filing the GSTR-3B return for the Assessment Year 2018-19, can claim the ITC in… Read More »
8 IMPORTANT INCOME TAX LAWS 26.02.2025 Section Case Law Title Brief Summary Citation 2(14) Balbir Singh v. Assistant Commissioner of Income-tax Assessment without a notice under section 143(2) is invalid. Click Here 12AA Board of Control for Cricket in India v. Assistant Commissioner of Income-tax A tribunal cannot examine the merits of a communication/order that… Read More »
Revision Order Under Section 263 Upheld; Assessing Officer’s Failure to Examine Book Profits Justified Revision Issue: Whether the Commissioner’s revision order under Section 263 of the Income-tax Act, 1961, is justified when the Assessing Officer (AO) failed to examine the issue of decapitalization of interest while computing book profits under Section 115J in the original… Read More »
A show-cause notice must be issued before rejecting an application for registration under section 80G. 80G Registration Denial Set Aside; Matter Remanded for Fresh Adjudication with Opportunity of Hearing Issue: Whether the rejection of an assessee-trust’s application for registration under Section 80G of the Income-tax Act, 1961, is valid when the Commissioner (Exemptions) rejected the… Read More »
Reassessment Notice Quashed; No New Material to Justify Reopening Based on Already Examined Issue Issue: Whether a reassessment notice issued under Section 148 of the Income-tax Act, 1961, is valid when it is based on the same issue that was already examined and accepted in a previous assessment, and there is no new material to… Read More »
GST Adjustment in Property Value Not a Gift Under Section 56(2)(x) Issue: Whether the reduction in the agreement value of an under-construction property due to an increase in GST rates, as directed by a press release, constitutes a gift under Section 56(2)(x) of the Income-tax Act, 1961. Facts: The assessee booked an under-construction property. Due… Read More »
Disallowance Under Section 40(a)(i) and DTVSV Act; Partial Acceptance Certificate Upheld Issue: Whether the partial acceptance certificate issued under the Direct Tax Vivad Se Vishwas (DTVSV) Act, 2020, should be rectified to reflect the correct disputed tax liability, considering the Commissioner (Appeals) decision which attained finality and the ITAT order. Facts: The assessee was assessed… Read More »
A show-cause notice must be issued before rejecting a Trust registration application. Trust Registration Denial Set Aside; Matter Remanded for Fresh Adjudication with Opportunity of Hearing Issue: Whether the denial of registration under Section 12AB and 80G of the Income-tax Act, 1961, is valid when the Commissioner (Exemptions) rejected the application due to the assessee’s… Read More »
Tribunal Exceeded Jurisdiction; Observations on Cancellation of BCCI’s Trust Registration Ignored Issue: Whether the Income Tax Appellate Tribunal (Tribunal) exceeded its jurisdiction by making observations on the merits of a communication regarding the cancellation of the Board of Control for Cricket in India’s (BCCI) registration under Section 12A of the Income-tax Act, 1961, when it… Read More »
Assessment without a notice under section 143(2) is invalid.; Agricultural Land Capital Gain Issue: Whether a reassessment order under Section 143(3) read with Section 147 of the Income-tax Act, 1961, is valid when the Assessing Officer (AO) failed to issue a notice under Section 143(2) after the assessee filed a return of income in response… Read More »