Tag Archives: IN THE ITAT HYDERABAD BENCH

Reassessment Order Based on Mechanical Sanction Under Section 151 Lacking Year-Wise Investment Examination Is Invalid

By | November 5, 2026
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Reassessment Order Based on Mechanical Sanction Under Section 151 Lacking Year-Wise Investment Examination Is Invalid Issue Whether a reassessment initiated under Section 147 is legally sustainable when the approval under Section 151 suffers from non-application of mind regarding year-wise property payments, and whether Section 292BC can retrospectively validate an invalid Section 151 approval obtained prior… Read More »

Addition under Section 68 on share premium is unsustainable post-revision, and loan verification is remanded.

By | October 28, 2026
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Addition under Section 68 on share premium is unsustainable post-revision, and loan verification is remanded. Issue Whether an addition under Section 68 towards share premium in a consequential assessment order is sustainable when the PCIT, in the Section 263 revision order, did not record any finding that the share allotment consideration was fictitious or represented… Read More »

No Rectification Required When DVO Valuation Matches Stamp-Duty Value and Unadjudicated Acquisition Cost Remanded

By | October 28, 2026
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No Rectification Required When DVO Valuation Matches Stamp-Duty Value and Unadjudicated Acquisition Cost Remanded Issue Whether the Assessing Officer can rectify an assessment order under Section 154 when the DVO’s valuation matches the stamp-duty value under Section 50C. Whether the unadjudicated claim of total stamp duty incurred toward the cost of acquisition under Section 48… Read More »

Reassessment Completed Without Mandatory Section 143(2) Notice Is Without Jurisdiction and Void

By | October 14, 2026
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Reassessment Completed Without Mandatory Section 143(2) Notice Is Without Jurisdiction and Void Issue Whether a reassessment completed under Section 147 read with Sections 144 and 144B is valid and sustainable when the Assessing Officer fails to issue a mandatory notice under Section 143(2) after the assessee specifically adopts an earlier filed return as the return… Read More »

Assessment Order Cannot Be Revisioned Under Section 263 for Issues Beyond Limited Scrutiny Scope

By | October 12, 2026
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Assessment Order Cannot Be Revisioned Under Section 263 for Issues Beyond Limited Scrutiny Scope Issue Whether a Principal Commissioner can invoke revisionary powers under Section 263 on an issue beyond the scope of limited scrutiny when the Assessing Officer did not examine it during assessment. Facts Limited Scrutiny Selection: For Assessment Year 2020-21, the assessee-company’s… Read More »

Section 148 Reassessment Notice Issued Beyond Three Years Quashed as Escaped Income Was Below Fifty Lakhs

By | October 10, 2026
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Section 148 Reassessment Notice Issued Beyond Three Years Quashed as Escaped Income Was Below Fifty Lakhs Issue Whether a reassessment notice issued under Section 148 after three years from the end of the relevant assessment year is barred by limitation under Section 149 when the income escaping assessment attributable to the assessee is less than… Read More »

Reassessment Notice Issued Beyond Four Years Without Proof of Valid Sanction Under Section 151 Is Invalid

By | October 6, 2026
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Reassessment Notice Issued Beyond Four Years Without Proof of Valid Sanction Under Section 151 Is Invalid Reassessment Notice Issued Beyond Four Years Without Proof of Valid Sanction Under Section 151 Is Invalid Issue Whether a reassessment notice issued under Section 148 beyond four years from the end of the relevant assessment year is legally valid… Read More »

Individual Beneficiary Cannot Claim Trust Loss Without Prior Determination and Verification of Income or Loss in Hands of Trust

By | October 3, 2026
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Individual Beneficiary Cannot Claim Trust Loss Without Prior Determination and Verification of Income or Loss in Hands of Trust Issue Whether an individual beneficiary holding a determinate share in a private family trust can directly claim a proportionate share of the trust’s loss in his individual return when the trust itself has not filed a… Read More »

ITAT Directs AO to Verify Section 54F Exemption Claim Raised for First Time Before DRP

By | September 28, 2026
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ITAT Directs AO to Verify Section 54F Exemption Claim Raised for First Time Before DRP ITAT Directs AO to Verify Section 54F Exemption Claim Raised for First Time Before DRP Issue Whether an additional claim for exemption under Section 54F, raised for the first time before the Dispute Resolution Panel (DRP), should be admitted and… Read More »

BSNL VRS-2019 Ex-Gratia Qualifies for Section 10(10B) Exemption Subject to Workman Status Verification

By | September 26, 2026
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BSNL VRS-2019 Ex-Gratia Qualifies for Section 10(10B) Exemption Subject to Workman Status Verification Issue Whether compensation/ex-gratia received by BSNL employees under the Voluntary Retirement Scheme (VRS-2019) is eligible for tax exemption under Section 10(10B) / Section 19 as retrenchment compensation, and whether the matter requires verification of ‘workman’ status by the Assessing Officer. Facts Background… Read More »