Reopening Notice Issued Beyond Three Years Without Mandatory Sanction Under Section 151(ii) is Invalid Issue: Whether a reopening notice issued under Section 148 beyond three years from the end of the relevant assessment year, without the mandatory prior approval of the Principal Chief Commissioner or any other authority specified under Section 151(ii) of the Income-tax… Read More »
Reassessment Proceedings Under Sections 147, 148, and 148A Must Be Faceless; JAO’s Jurisdiction Questioned and Referred to Larger Bench Issue: Whether, with the introduction of the Faceless Assessment Scheme, reassessment proceedings, including those under Section 148A, must be conducted in a faceless manner, and consequently, whether a Jurisdictional Assessing Officer (JAO) has the jurisdiction to… Read More »
Condonation of Delay for ITR Filing Justified Due to Delayed TDS Communication on NHAI Land Acquisition Compensation Issue: Whether the rejection of an application for condonation of delay in filing the return of income under Section 119(2)(b) was justified, when the assessee received compensation from NHAI for land acquisition, claimed exemption under Section 10(26AAB), and… Read More »
I. Reassessment Based on Same Material as Original Assessment is a Mere Change of Opinion and Bad in Law Issue: Whether the reopening of assessment under Section 148, based on an audit report that relied on the same appraisal report and materials used for the original assessment, constitutes a mere change of opinion and is… Read More »
Condonation of 536-Day Delay in Appeal Allowed for Trust Due to Clerk’s Error and Trustees’ Age/Lack of Tech Savvy Issue: Whether a delay of 536 days in filing an appeal against an ex parte order rejecting registration under Section 12AB and exemption under Section 80G should be condoned, given that the delay was caused by… Read More »
Denial of 12AB/80G Registration Remanded Due to Lack of Proper Hearing on Trustee Loans Issue: Whether the Commissioner (Exemptions) was justified in rejecting the application for registration under Section 12AB and approval under Section 80G(5) of the Income-tax Act, 1961, solely on the ground that the assessee-trust had not received sanction from the Charity Commissioner… Read More »
I. Name Change of Charitable Society Necessitates Fresh Section 12A Registration for Exemption Issue: Whether a charitable society, initially registered under Section 12A, loses its entitlement to exemptions under Sections 11 and 12 of the Income-tax Act, 1961, if it undergoes a name change but fails to apply for a fresh registration under Section 12A.… Read More »
Bogus LTCG Claim: Section 263 Revision Not Tenable When High Court Approved Amalgamation and Statements Not Confronted Issue: Whether the Principal Commissioner of Income-tax (PCIT) was justified in invoking revisionary jurisdiction under Section 263 of the Income-tax Act, 1961, to set aside an assessment order, when the Assessing Officer (AO) had accepted the assessee’s claim… Read More »
I. Income from Shareholder’s Account of Life Insurer Taxable as Income from Life Insurance Business Issue: Whether income from the shareholders’ account of a life insurance company should be taxed as “income from life insurance business” under Section 44 of the Income-tax Act, 1961, or as “income from other sources.” Facts: The assessee-company conducts life… Read More »
Fair Hearing Denied: Educational Institution’s Exemption Claim Remanded for De Novo Adjudication Issue: Whether the Assessing Officer was justified in denying the exemption under Section 10(23C)(iiiad) of the Income-tax Act, 1961, to an educational institution without providing a fair opportunity of hearing, and whether the matter should be remanded for a de novo adjudication by… Read More »