Reassessment Notice Served By Affixture At Wrong Address Without Following Proper Procedure Is Invalid Issue Whether a notice under Section 148 served by affixture at an incorrect address, without adhering to the procedure prescribed under Rules 17 to 20 of Order V of the Code of Civil Procedure (CPC), constitutes valid service to initiate reassessment… Read More »
Reassessment Proceedings Initiated Against A Dissolved Succeeded Firm Are Non-Est And Void Ab Initio Issue Whether reassessment proceedings under Section 147 initiated and finalized in the name of a dissolved partnership firm—whose running business was succeeded as a going concern by a company—are void ab initio, or saved by Section 189(1). Facts The assessee was… Read More »
Renewal Application under Section 80G(5) Clause (ii) by Trust Holding Regular Approval Is Valid Issue Whether an application for renewal of approval under Section 80G(5) filed under clause (ii) of the first proviso is maintainable when the assessee-trust holds a regular approval on the date of filing the application, as opposed to a provisional approval.… Read More »
Ex-Parte Dismissal Without Merits Invalid And Successive Non-Compliances Under Section 142(1) Constitute Single Default Ex-Parte Dismissal Without Merits Invalid And Successive Non-Compliances Under Section 142(1) Constitute Single Default Issue Whether an ex-parte order passed by CIT(A) dismissing an appeal for non-prosecution without deciding it on merits as required under Section 250(6) is legally sustainable. Whether… Read More »
Reassessment Based Solely On Vague Anonymous Tax Evasion Petition Without Credible Material Is Invalid Reassessment Based Solely On Vague Anonymous Tax Evasion Petition Without Credible Material Is Invalid Issue Whether reassessment proceedings under Section 148, founded solely on a vague and unverified Tax Evasion Petition lacking specific details, are legally sustainable when the Assessing Officer… Read More »
Addition Under Section 69A Unjustified When Bank Credit Source Is Proven And Uncorroborated Cash Receipts Unproven Addition Under Section 69A Unjustified When Bank Credit Source Is Proven And Uncorroborated Cash Receipts Unproven Issue Whether an addition under Section 69A for unexplained money can be sustained for AY 2019-20 when a bank credit of Rs. 11… Read More »
Reassessment Orders Without Mandatory Section 143(2) Notice And Unsubstantiated Third-Party Ledger Additions Are Void Issue Whether a reassessment order passed under Section 144 read with Section 147 is valid when completed without issuing a mandatory notice under Section 143(2), despite the assessee demonstrating that a return was filed in response to a Section 148 notice.… Read More »
No Addition Under Section 69 Or Section 56 Applies When Property Purchases Are Fully Proven Through Banking Channels Issue Whether an addition for unexplained investment under Section 69 read with Section 115BBE can be made when the source of investment in an immovable property is traceable to identified bank accounts and an institutional housing loan.… Read More »
Taxpayer-Bank With Sufficient Surplus Funds Needs No Section 14A Disallowance On Exempt Income Issue Whether disallowance under Section 14A of the Income-tax Act, 1961, read with Rule 8D of the Income-tax Rules, 1962, can be sustained or estimated by the Department when the assessee, a banking company, possesses sufficient and adequate surplus interest-free funds to… Read More »