Tag Archives: Income tax Officer

Unexplained Bank Deposits Remanded for Fresh Assessment to Evaluate Profit Estimation Based on Past and Succeeding Years

By | June 11, 2026
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Unexplained Bank Deposits Remanded for Fresh Assessment to Evaluate Profit Estimation Based on Past and Succeeding Years Unexplained Bank Deposits Remanded for Fresh Assessment to Evaluate Profit Estimation Based on Past and Succeeding Years Issue Whether the Assessing Officer was justified in treating the entire cash deposit of ₹1.28 crore as unexplained money under Section… Read More »

Spouse’s Trading Losses Funded by Gifted Money Must Be Clubbed and Allowed for Set-Off

By | June 10, 2026
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Spouse’s Trading Losses Funded by Gifted Money Must Be Clubbed and Allowed for Set-Off Issue Whether trading losses incurred by an assessee’s spouse in derivative transactions, funded entirely by a monetary gift from the assessee, must be clubbed with the assessee’s income and allowed for set-off under Section 64(1)(iv) read with Explanation 3(i). Facts Assessee’s… Read More »

Faceless Reassessment Disguised as Best Judgment Under Section 144 Can Be Remitted by CIT(A) for Fresh Determination

By | June 10, 2026
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Faceless Reassessment Disguised as Best Judgment Under Section 144 Can Be Remitted by CIT(A) for Fresh Determination Issue Whether the Commissioner of Income-tax (Appeals) [CIT(A)] has the legal power to set aside a faceless reassessment order and remit the matter back to the Assessing Officer (AO) for fresh adjudication, if the order—though labeled as a… Read More »

Promotion of 196 Income Tax Officer to ACIT – Order No 138 of 2016

By | July 26, 2016
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F. No. A 32013/02/2016-Ad.VI Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, 110001 Date: 22.07.2016 Order No. 138 of 2016 The President is pleased to appoint the following Income Tax Officers, presently posted in the region shown against their names in the grade of Assistant… Read More »